Refinance a Home
Refinance your home with low rates.
Refinance for low rates and reduced interest
When you refinance with a loan from Educators you can experience low rates to reduce interest paid on your current mortgage or reduce your monthly payment. If you want to take cash out or refinance to lower your monthly payment, fixed closing costs are $1500 on all owner occupied homes.
First-class services to help you refinance your mortgage
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Rates
|
Type |
RATE |
APR2 |
Payment per $1,000 |
POINTS1 |
|---|---|---|---|---|
|
Minimum mortgage loan of $30,000 | Min. credit score 620 1Mortgage points, or discount points are a form of prepaid interest you can choose to pay up front in the exchange for a lower rate and monthly payment. One mortgage point is equal to about 1% of your loan amount. 2APR = Annual Percentage Rate. APR calculated on loan amount of $100,000. Rates are subject to change. Rates are not guaranteed until a formal lock is processed. Property insurance is required on all mortgages. No prepayment penalty. |
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|
Type 30- Year Fixed |
RATE 6.500% |
APR2 6.556% |
Payment per $1,000 $6.33 |
POINTS1 0.00% |
|
Type 30- Year Buydown1 |
RATE 6.125% |
APR2 6.180% |
Payment per $1,000 $6.08 |
POINTS1 1.05% |
|
Type 20- Year Fixed |
RATE 6.250% |
APR2 6.323% |
Payment per $1,000 $7.32 |
POINTS1 0.00% |
|
Type 15- Year Fixed |
RATE 6.000% |
APR2 6.091% |
Payment per $1,000 $8.45 |
POINTS1 0.00% |
|
Type 10- Year Fixed |
RATE 5.750% |
APR2 5.879% |
Payment per $1,000 $10.98 |
POINTS1 0.00% |
|
Type |
RATE |
APR1 |
Payment per $1,000 |
|---|---|---|---|
|
30 Year amortization | Closing costs = $1,500 1APR = Annual Percentage Rate. APR calculated on loan amount of $100,000. Rates are subject to change. The APR may increase after consummation. Rates are not guaranteed until a formal lock is processed. Property insurance is required on all mortgages. No prepayment penalty. 2/1 ARM means that the first two years have a locked APR set at closing. The rate can then change by 1% after the first two years and every year after. The rate cannot increase more than 8% during the life of the loan. 5/1 ARM means that the first five years have a locked APR set at closing. The rate can then change by 1% after the first five years and every year after. The rate cannot increase more than 8% during the life of the loan. Investments 1% higher on the current ARM rate | $1,800 closing cost |
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|
Type 2/1 |
RATE 5.875% |
APR1 5.929% |
Payment per $1,000 $5.92 |
|
Type 5/1* |
RATE 6.000% |
APR1 6.055% |
Payment per $1,000 $6.00 |
|
TERM |
RATE |
APR1 |
PAYMENT PER $1000 |
|---|---|---|---|
|
10 Year fixed refinance | Closing costs = $500 Refinance loan amounts equal to or under $249,999 at 80% LTV 1APR = Annual Percentage Rate. APR calculated on loan amount of $100,000. Rates are subject to change. Rates are not guaranteed until a formal lock is processed. Property insurance is required on all mortgages. No prepayment penalty. Subject to underwriting approval. |
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|
TERM 10 Year Fixed |
RATE 5.750% |
APR1 5.860% |
PAYMENT PER $1000 $10.98 |