Refinancing your mortgage can be complex, especially in 2025, when interest rates and housing prices are still high. With so many options of lenders, loan types, terms, and more, things can also be quite confusing.
If you’re hoping to lower monthly payments, shorten your loan term, or tap into home equity, choosing the right lender can make a huge difference.
Why not make things easier and refinance with a credit union? Since credit unions exist to support their members, and really, our community-at-large, you can be sure you’ll get favorable rates and terms backed by excellent service.
Let’s take a look at why a mortgage refinance with a credit union, like Valley Credit Union, could be one of the best financial decisions you make this year.
Why Work With A Credit Union
Everyone loves a breath of fresh air. That’s what banking with a credit union is like, since there are so many benefits of joining one. When you do business with a local, community-focused credit union, like 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 IRAs), loans, and more
- Rates and terms that commercial and retail banks can’t beat
- 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!
Learn More: What Makes Valley Credit Union Different
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 bigger financial decisions, like refinancing your mortgage?
Maybe you’re wondering which bank is best for refinancing, or whether credit unions really offer better terms.
If you refinance with Valley Credit Union, we think the advantages speak for themselves. Here’s what you can expect when you refinance your mortgage with our credit union:
- Less hassle. Applying is simple and straightforward, without any hoops to jump through. You can apply online anytime and make payments easily through online or mobile banking.
- Better service. You’re not alone in this endeavor! The friendly experts at Valley Credit Union and our mortgage loan partners at Centennial Lending are available to answer any questions you may have. Once you submit your application, we take care of the rest.
- More support. In addition to helpful team members, you’ll have access to tools, resources, and helpful insights that make refinancing less overwhelming.
- Easier approval. Credit union mortgage requirements tend to be more flexible than those of large banks. With fewer and clearer steps, you’ll know exactly what’s needed to move forward. In fact, we even provide a handy checklist with all the to-do items and actions you’ll need to take care of.
- Faster turnaround. Most loan decisions arrive within three business days of submitting your application.
- Favorable terms. Because we’re member-focused, we’ll work with you to tailor your loan agreement to your lifestyle. When possible, we can adjust payment amounts, frequency, and structure.
- Plenty of options. We offer plenty of different kinds of home loans, like fixed-rate, adjustable-rate, FHA, VA, interest-only loans, investment property, bridge, balloon, and jumbo. You’re sure to find at least one or two that match your needs!
- Flexibility when life happens. Sometimes you need a little wiggle room, and we’re here to serve you, not prioritize profits. That’s why we’re happy to offer our members debt protection, unemployment insurance, and other safeguards to help them when they need it.
- Cheaper overall. We offer members competitive loan rates, flexible terms, and lower fees that add up to lower monthly or overall mortgage costs. It’s more money in your pocket! Plus, the time you save with our streamlined and supported process is definitely worth something too. As a VCU member, you can also spend less to insure that lovely property you just refinanced.
- Trusted support. We’ll help you evaluate your choices. For example, should you refinance your mortgage or take a home equity loan? Should you take a second mortgage, modify your mortgage, or get a reverse mortgage? Whatever your question, we’re here to help answer it.
We’re ready to take care of you before, during, and after your mortgage refinancing.
What You Need to Know About Oregon Mortgage Refinance Rates
Refinancing your home can still be a smart move. You just may need to look at it a little differently than you would have a few years ago.
With average 30-year fixed mortgage rates sitting around 6.3% nationally and 6.33% here in Oregon, refinancing your home is less about dramatically lowering your rate and more about setting yourself up for long-term stability and financial flexibility.
If you’re thinking about refinancing your home in Oregon this year, here are a few reasons it might make sense:
- Lock in predictability. Switching from an adjustable-rate to a fixed-rate mortgage gives you peace of mind when it comes to future payments.
- Pay off your home faster. Refinancing to a shorter term can help you build equity faster, and cut down on total interest paid.
- Put your home equity to work. With property values staying strong across much of Oregon, a cash-out refinance could help you fund home improvements, pay off high-interest debt, or cover big-ticket expenses.
And because your situation as a homeowner is different than your neighbor’s, make sure to pay attention to Oregon mortgage refinance rates to time things right.
FAQs About Refinancing a Mortgage With a Credit Union
How can a credit union help me refinance more affordably?
Credit unions are not-for-profit and member-owned, which allows them to pass savings back to members through lower fees, better rates, and personalized service.
Can I refinance my mortgage through a credit union even if my current loan is with another lender?
Absolutely! Many of our members first came to us when they decided to refinance a loan they started elsewhere. We’ll walk you through the steps, handle the payoff of your old loan, and take care of all the details to make the transition smooth and stress-free.
Make sure to read our stress-free guide for moving from a bank to a credit union.
What types of refinance options do credit unions offer?
At Valley Credit Union, we offer several refinance programs through our partnership with Centennial Lending, including fixed-rate, adjustable-rate (ARM), cash-out, FHA, VA, and jumbo loans.
Are credit unions easier to work with when refinancing?
Yes, they tend to be since we have more flexible underwriting standards than big banks. We look at your full financial picture and not just your credit score.
Additional Mortgage Resources
We want to make sure you get the right home loan at the best rate when you refinance your mortgage with a credit union. To make things easy for you, we’ve rounded up these helpful resources. 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 tools are great for when you want to do a little research on your own. But, just remember, we’re always here to help you personally.
“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 Valley Credit Union
We’ve laid out our case and hope you see the resounding merits of partnering with credit union like Valley Credit Union. As your community-driven financial institution, we’re able to offer members more than competitive rates, flexible terms, and a variety of loan options.
Together with Centennial Lending, we can take care of you and your mortgage refinancing needs better than any for-profit bank. 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.