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Mortgage Refinance
Lower your rate, shorten your term, or access your equity. Refinancing options built for your money goals.
Refinancing Built for Your Goals
Have you reviewed your current mortgage rate, term, and payments lately? With rates continually changing, refinancing could save you significant money in the long-run or help you pay off your loan faster.
What We Review with You
Our 3Rivers mortgage loan officers help you explore potential savings by reviewing your current rate, term, and payment. Whether you want to pay your home off faster, reduce monthly payments, or tap into equity, we have solutions.
Refinancing Options to Consider
- Rate: Compare your current rate to today's offerings—could save you hundreds or thousands of dollars
- Term: Reduce your term to pay off sooner or extend to improve monthly cash-flow flexibility
- Payment: Lower monthly costs or use home equity for improvements, education, or debt consolidation
- Type: Switch from adjustable-rate to fixed-rate mortgage for predictable, stable payments
Common Questions
Mortgage Refinance FAQs
Get answers to frequently asked questions about refinancing your mortgage with 3Rivers.
How do I calculate my refinance break-even point?
Divide your total closing costs by your monthly payment savings. For example, $3,000 in costs divided by $150 monthly savings equals 20 months to recoup your investment. We calculate this with you.
Can I refinance FHA, VA, or USDA loans with 3Rivers?
Yes, 3Rivers refinances conventional and government-backed mortgages including FHA, VA, and USDA loans. Streamline refinance programs may be available for qualifying government loans with reduced documentation.
Will refinancing affect my credit score?
A credit inquiry causes a temporary small decrease. However, securing a lower rate and making consistent payments can improve your credit long-term. Multiple mortgage inquiries within 45 days count as one.
What documents do I need to refinance?
You'll typically need recent pay stubs, tax returns, bank statements, homeowners insurance information, and your current mortgage statement. Your loan officer will provide a complete checklist upfront.
How long does the mortgage refinance process take?
Most refinance applications close within 30 to 45 days. Your timeline depends on how quickly you provide documentation and loan complexity. We keep you informed throughout every step of the process.
What's the difference between rate-and-term and cash-out refinance?
Rate-and-term refinance adjusts your interest rate or loan term without accessing equity. Cash-out refinance lets you borrow against your home equity and receive funds at closing for other purposes.
When is the right time to refinance my mortgage?
Consider refinancing when current rates are significantly lower than your rate, your credit score has improved, or your financial goals have changed. Our loan officers provide personalized timing analysis.
Maximize Your 3Rivers Membership
Related Services & Tools
Pair your refinance with these tools to manage your money, save more, and reach your financial goals.
Protect Your Investment
3Rivers Member Insurance
When you refinance, it's the perfect time to review your home insurance. Get competitive quotes and coverage options designed for credit union members.
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