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10 Reasons to Refinance Your Mortgage With a Credit Union

10 Reasons to Refinance Your Mortgage With a Credit Union

Refinancing your mortgage can be complex and/or confusing. You have a lot of options when it comes to lenders, loan types, terms, etc.

Why not make the simple, smart choice: refinancing with a credit union! Because our mandate is to help our members — our community-at-large, really — you can be sure you’ll get favorable rates and terms and excellent service and support.

Let’s take a look at why a mortgage refinance with a credit union, like VCU, could be a great decision for you.

Why Work With A Credit Union

Everyone loves a breath of fresh air. That’s what banking with a credit union is like. There are infinite benefits to joining a credit union. When you do business with a credit union — at least, with Valley Credit Union — you’ll enjoy:

  • Incredible personalized service from knowledgeable, dedicated staff
  • A broad range of financial products — like bank accounts (checking, savings, and investment), loans, and more
  • Rates and terms that beat commercial and retail banks
  • Bonuses and perks, like member dividends and discounts on complementary products and services

Become a member and you’ll see pretty quickly that it’s a value-added relationship!

Why Refinance Your Home Loan With A Credit Union

Those are all compelling reasons to do your everyday personal banking at a credit union. But what about big, special, occasional needs — like your refinancing your home loan?

Maybe you’re wondering which bank is best for refinancing? Or, is a credit union vs bank mortgage better? Or, should you refinance your mortgage at a credit union? These are super common questions.

With the VCU loans and process in mind, we think these upsides are more than enough motivation to refi your mortgage with a credit union:

  • Less hassle. There aren’t a lot of hoops to go through. Applying is a straightforward, well-defined mortgage refinancing process. You can apply online from anywhere at any time. Loan repayment can be done via online or mobile banking.
  • Better service. The friendly experts at Valley Credit Union and our mortgage loan partners at Centennial Lending are available to answer any questions you may have. (You’re not alone in this endeavor!) Once you submit your application, we take care of the rest.
  • More support. In addition to helpful team members, you’ll find plenty of other tools, resources, and info to make the whole business of home loan refinancing more understandable and less overwhelming.
  • Easier. You may find that credit union mortgage requirements are more lenient than regular banks. With fewer, clearer, and simpler steps, refinancing your mortgage couldn’t be less difficult. We even provide a handy checklist with all the to-do items and actions you’ll need to take care of.
  • Quicker. Typically, you’ll get your loan decision within three business days of submitting your application.
  • Favorable terms. Because we’re member-focused, we’re able to work with you to craft a loan agreement that fits your life. For example, we often have the freedom to adjust the number, size, and frequency of payments.
  • Options. At last count, VCU has nine different kinds of home loans (fixed-rate, adjustable-rate, FHA, VA, interest-only loans, investment property, bridge, balloon, jumbo). You’re sure to find at least one or two that match your needs.
  • Flexibility. We know life happens. Sometimes you need a little wiggle room. That’s why we are pleased to offer members compassion in the form of debt protection, unemployment insurance, and more.
  • Cheaper. We offer members competitive loan rates, flexible terms, lower fees. These factors combined can add up to lower monthly or overall mortgage costs. Plus, the time you save with our streamlined and supported process is definitely worth something! (Also, as a VCU member you can spend less to insure that lovely property you just refinanced.)
  • Direction. We can help you figure out how to best move forward. For example, should you refinance your mortgage vs take a home equity loan, take a second mortgage, do a loan modification, or get a reverse mortgage? Do you need a cash out refinance?

We like to take care of you before, during, and after your refi adventure!

Additional Mortgage Resources

We want to make sure you get the right home loan at the best rate. So, for your convenience, we’ve rounded up these helpful links to info and tools. They’ll help you find the lowest credit union refinance mortgage rates, figure out which loan options are available to you, and determine what your mortgage payments will be.

These are great for when you want to do a little research on your own. But, just remember,  we’re still here to help you anytime.

“I like having Valley CU handle all of my financial needs. We’re buying our residence with a loan through Valley. We have both our checking and savings, and can always trust on friendly customer service here.” - Rich

Mortgage Refinancing With VCU

We’ve laid out our case and hope you see the resounding merits of partnering with Valley Credit Union. We (and Centennial Lending) can take care of you and your mortgage refinancing needs better than any for-profit bank.

As your community-driven financial institution, we’re able to offer members more than competitive rates, flexible terms, and a variety of loan options. We’re also well positioned to answer your call for superior support and service. We’re, quite literally, here for you!

Let VCU help you make your homeownership dreams a reality, and your reality a dream. Apply for your mortgage refinancing loan or contact us today with any additional questions.

About the Author

 Justin Roberts, Vice President of Lending

Justin Roberts is our Vice President of Lending and has been in the financial industry for over 18 years. He is an Oregon State University Graduate and has just completed Western CUNA Management School. When he is not focused on helping the members at Valley, you will find him coaching his two sons and volunteering his time to help develop the youth in our communities through sports.

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