LOCAL Knowledge: Refinancing - Not Just for Mortgages 

When we say the word refinancing you're probably thinking mortgages, are we right?  With mortgage rates hovering at or near all-time lows, that makes sense.  But we want you to know that you can refinance just about any loan you have, saving you on your monthly payment.  That includes car loans, personal loans, and more.

Because Credit Unions are not-for profit, chances are that we will have lower loan rates than our competitors.  This includes banks, auto financing companies, payday lenders, and more.

How do you know if you should refinance?  For auto or personal loans, find out from your existing lender what interest rate you are paying on the loan.  Then, compare the rate with our current rates and take the lower rate.  Sounds simple, right?  It is, however, many people fail to take advantage of the loan rates because they think that switching everything will be too much of a hassle.  If switching could save you thousands of dollars in interest and fees over time, isn't it worth it?  And remember, we're here to help make the process as easy as possible.

As for mortgages, it's not a secret that mortgage rates have been at or near all-time lows, but before you decide to refinance, it's important you discuss the process with an experience and knowledgeable professional.  Make sure that you are aware of all the closing costs and other administrative fees that are involved with the process.  Click here to meet our experienced Mortgage Officers, or to set up an appointment.

Past Local Knowledge Newsletters

5 Tips to Help Kee Your Credit Score High

Who's Paying for College, and How?

Is this Still a Good Investment?

New Year's Resolution

Go Green

Making It Simple: Understanding Credit Card Fees