Refinance a Home
Refinance your home with low rates.
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.
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|
TERM |
RATE |
APR2 |
PAYMENT PER $1000 |
POINTS |
|---|---|---|---|---|
|
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. 3Max loan amount $726,200. Closing cost $1,500. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Interest on a home that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. Please consult a tax advisor regarding the tax deductibility of interest and charges. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Subject to underwriting approval. |
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TERM 30- Year Fixed |
RATE 6.250% |
APR2 6.305% |
PAYMENT PER $1000 $6.16 |
POINTS 0.00% |
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TERM 30- Year Buydown1 |
RATE 5.875% |
APR2 5.932% |
PAYMENT PER $1000 $5.92 |
POINTS 1.31% |
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TERM 20- Year Fixed |
RATE 6.000% |
APR2 5.932% |
PAYMENT PER $1000 $7.17 |
POINTS 0.00% |
|
TERM 15- Year Fixed |
RATE 5.500% |
APR2 5.590% |
PAYMENT PER $1000 $8.18 |
POINTS 0.00% |
|
TERM 10- Year Fixed |
RATE 5.375% |
APR2 5.503% |
PAYMENT PER $1000 $10.80 |
POINTS 0.00% |
|
TERM |
RATE |
APR1 |
PAYMENT PER $1000 |
|---|---|---|---|
|
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. 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. Closing cost $1,500. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Interest on a home that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. Please consult a tax advisor regarding the tax deductibility of interest and charges. *Investment Properties have a rate of (rate + 1%) and have a closing cost of $1,800. |
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TERM 2/1 |
RATE 5.000% |
APR1 5.481% |
PAYMENT PER $1000 $5.38 |
|
TERM 5/1* |
RATE 5.250% |
APR1 5.471% |
PAYMENT PER $1000 $5.53 |
|
TERM |
RATE |
APR1 |
PAYMENT PER $1000 |
|---|---|---|---|
|
Closing Costs = $500.00 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. Interest on a home that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. Please consult a tax advisor regarding the tax deductibility of interest and charges. |
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TERM 10- Year |
RATE 5.375% |
APR1 5.485% |
PAYMENT PER $1000 $10.80 |