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Refinance

Refinance to Save Money

Refinancing with a new interest rate or loan term can be a great way to save money on your mortgage.
A lower rate means lower payments

If rates have fallen since you took out your current mortgage, refinancing now may get you a lower rate. That means your monthly payments will go down, assuming the interest rate is all that changes.

Lower payments are great, but will they actually save you money? That depends on the cost of taking out a new loan, how long you plan to stay in your home, and how much less you will be paying each month.

Get lower payments with a longer term

Another way to reduce your monthly payments is to lengthen your loan term, which is the length of time you spend repaying it. With your payments spread out over a longer time period, each one will be smaller.

The drawback to this approach is that because you will repay the mortgage principal more slowly, you may end up paying more interest overall.
Shorten your loan term to pay less interest

You can reduce the total amount of interest you pay by shortening your loan term. With fewer monthly payments required to repay the loan, each payment will reduce the balance by a larger amount. As your balance decreases more rapidly, so will interest charges.

Besides reducing your interest costs, a shorter loan term helps you build equity faster. That means you’ll have a growing source of wealth to draw from when you need it.

  • Our Approach
  • Our Process
  • Benefits to Members
  • Benefits to Credit Unions
  • Savings on Closing Costs
  • Our First Right of Refusal Policy

Walnut Creek

1261 Locust St #2424
Walnut Creek, Ca. 94596

Walnut Creek

325 N. Wiget Lane STE 130
Walnut Creek, Ca. 94598

Antioch

5123 Lone Tree Way
Antioch, Ca. 94531
Equal Housing Opportunity Lender. Not a commitment to lend. Rates and programs are subject to change. Licensed by the Department of Real Estate under the California Residential Mortgage Lending Act. | Fair Lending Statement | AGV Grouppe, Inc. dba CU Lending; Pacific Funding Group | Walnut Creek, CA NMLS #2258009 | DRE #1796227
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