Mortgage Refinancing

Visit Mission Fed to

refinance a Mortgage Loan

in San Diego. Refinancing a mortgage means replacing your current mortgage with a new one by paying off your mortgage in full with a loan that then becomes your new mortgage. It’s a great way to lower your monthly payment or to save money on the total balance of your loan by reducing the interest.

At Mission Fed, we understand how important it is for our members to have a home loan payment that reflects their current priorities and plans for their home. We provide a variety of competitive refinancing options so that we can offer each member the right refinancing for their home loan.

Reasons to refinance with Mission Fed:

  • Competitive fixed and adjustable rate mortgages
  • 60-day rate lock with no fees
  • No points options
  • No closing cost options*
  • No pre-payment penalties
  • Local, San Diego service for the life of most loans

Why should you consider refinancing your Home Loan?

You can lower your payment on your home and save money on interest by refinancing your mortgage. You may have more favorable loan terms available than when you purchased your home, especially if your credit score has gone up. By refinancing, you can take advantage of current competitive rates.

Some Mission Fed members refinance when they have equity in their homes, meaning that their house is worth more than the remaining balance on their home loan. By refinancing, you can borrow money for large purchases or pay down high interest credit card debt.

It’s a good idea to calculate your new payments before you refinance. You can use our Mortgage Refinance Calculator to get an idea of the rates and monthly payments that are possible. Interest, points, fees, the remaining length of your mortgage and your loan terms are all factors that determine how much you can save by refinancing.

Advantages of mortgage refinancing

Save money: Many factors could contribute to you being eligible for a lower interest rate than your current mortgage. You could have better credit or it could be a more favorable lending environment. Lower interest could mean a lower overall loan amount when you refinance, so you could save money. If your current mortgage requires private mortgage insurance, refinancing could also remove that requirement.

Change your mortgage type: When you apply to refinance your Home Loan or Mortgage Loan with Mission Fed, you may have the option to change the type of mortgage that you have from or to a fixed or adjustable rate mortgage that may better suit your budget and goals.

Take equity out of your home: You can also inquire about our Home Equity Loans and Home Equity Lines of Credit (HELOCs). Whether you’re considering remodeling your home with your new savings or wanting to consolidate your debt, a Home Equity Loan and HELOC are great ways to put the equity in your home to work for you.

Learn more about refinancing with a Mission Fed Home Loan

Mission Fed offers several types of Home Loans tailored to our members’ individual needs. For refinancing a home in San Diego, we can help you determine the right program for you, with no pre-payment penalties. Our loan experts will be happy to assist you with your application and answer any questions you may have. Plus, our online application allows you to receive an answer quickly.

Come to Mission Fed for your personalized mortgage refinancing options today!

*Mission Fed will pay non-recurring closing costs on select loans, including, but not limited to: lender’s title insurance, title services, appraisal, tax service, credit report, flood certification and recording fees. You are responsible for prepaid interest, homeowner’s insurance, initial escrow deposit, owner’s title insurance, or city and/or county transfer tax. Additional restrictions may apply.

Rates and terms will vary based on collateral and credit. Programs, rates, terms, conditions and services are subject to change without notice. All accounts and loans are subject to approval. 4/17

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