Your Mortgage, Your Way
Refinance your mortgage with Cyprus Credit Union and take advantage of competitive rates to lower your monthly payment or get cash to consolidate debt or make home improvements.
Refinancing Solutions Tailored to You
If you’re looking to refinance your home, Cyprus Credit Union has options that can fit your goals.
Cash-out Refinance
- Use your home’s equity with a cash-out refinance to consolidate debt, offering:
- One easy payment
- Lower interest rate
- Shorter payback period
Short & Sweet Mortgage
Our Short & Sweet Mortgage provides a cost-effective alternative to traditional 30-year mortgages, featuring:
- Significant savings
- No appraisal or down payment required
- Low, fixed origination fee of $595
- Terms up to 15 years
- Loan amounts up to $400,000 with 80% loan-to-value
- Automated payments available for your convenience
Why should you refinance your mortgage with Cyprus Credit Union?
Lower Your Interest Rate
Lock in a lower rate to reduce your monthly payments.
Reduce Your Loan Term
Shorten your path to homeownership and pay off your mortgage faster by shortening the loan term.
Switch from Adjustable to Fixed Rate
Convert your adjustable-rate mortgage to a fixed-rate for more consistent payments.
Consolidate Debt
Combine multiple debts into one manageable payment.
Fund Home Improvements
Tap into funds to make needed renovations or upgrades.
Mortgage Refinance Loans
| Mortgage Type | Term | APR as low as |
|---|---|---|
| Short & Sweet Mortgage | 10 Year | 6.875% |
| Short & Sweet Mortgage | 15 Year | 7.125% |
| Cash-Out Refinance | See First Mortgage Rates | See Rates |
Rates are subject to change. Published terms describe an owner-occupied refinance with maximum 80% LTV, minimum 680 FICO score, and the displayed maximum loan qualification.
Meet Our Mortgage Team
More Options for Your Mortgage Needs
Home Equity Line of Credit
Tap into your home’s equity and get a revolving line of credit you can use any time to consolidate debt or make home renovations.
Second Mortgage
Borrow against the equity in your home in one lump sum while keeping your existing mortgage in place.
Construction/Lot Loans
Get funding to move to a bigger space, secure the right plot of land, or start the remodel you've always wanted.
Mortgage Refinancing FAQs
When is the right time to refinance?
The right time to refinance depends on your current financial situation, mortgage rate, potential new terms, and how long you plan to stay in your home. Refinancing may make sense when the potential savings outweigh the costs.
Can I refinance if I've had my mortgage for only a few years?
Yes, you may be able to refinance even if you've only had your mortgage for a few years. Your eligibility will depend on factors such as your credit, income, home equity, and current loan.
Why should I refinance my mortgage?
Refinancing may help you lower your interest rate or monthly payment, change your loan term, or access your home's equity. It can be a way to adjust your mortgage to better fit your current financial goals.
Ready to refinance?
Work with our experienced mortgage team to explore your refinancing options and find the best fit for you. We're committed to securing you lower refinance mortgage rates to lock in big savings.
Contact our team at 801-260-7605 or Mortgages@CyprusCU.com.
