Streamline Refinance
Is your current home loan backed by the FHA? If so, you may be eligible for this simplified refinance process.
Today’s Rates
Rate lock period is 30 days. The details listed are for informational purposes only. It is provided to assist you in determining an estimate of lender fees that may be present and an estimate of your proposed monthly mortgage payment. There are other costs you will incur, not associated with the lender fees. These costs are paid to third parties involved and are standard in all mortgage transactions, such as title/attorney costs, appraisal, taxes and escrows. You will receive an official Loan Estimate after applying, which will provide you with a detailed breakdown of all closing costs.
Benefits of Refinancing
Your financial situation changes over time, and so should your mortgage terms!
- Reduce interest, through either a lower rate or shorter term length
- Consolidate debt through a cash-out refinance
- Lower your monthly payments depending on your previous interest rate and terms*
*APR and monthly payments may vary based on your credit score and other factors
REFINANCE
Which Type of Refinance Fits Your Needs?
Refinancing your mortgage could lower your monthly payments, shorten the term of your loan, or reduce your interest rate*
Rate-And-Term Refinance
Cash-Out Refinance
Rate-And-Term Refinance
Rate-And-Term Refinance
Replace your existing mortgage with new terms. Pay off your home sooner or potentially reduce your interest rate and monthly payments1.
1APR and monthly payments may vary based on your credit score and other factors
* Average of 23 days to close based upon 54 all purpose mortgage loans closed through LorMet Credit Union from 1/1/24 – 10/18/24. According to ICE Mortgage Technology, the national average time to close an all purpose home loan in October 2024 was 43 days. The closing process can range from a week to two months or longer. Factors that affect the timing include whether or not you’re buying the home with a mortgage, the kind of mortgage, and the type of property you’re buying.
Simple Refinance
Your new FHA loan amount could include all closing costs if the amount falls within the appraised value.
IRRRL Refinance
If you already have a VA-backed home loan, you may be eligible for an interest rate reduction refinance.
Lending Partners You Can Trust
LorMet shops around with the nation’s leading mortgage lenders to offer you low rates and flexible terms
United Wholesale Mortgage (UWM), Union Home Mortgage (UHM), Flagstar and their Account Executives are not affiliated with LorMet Community Federal Credit Union. Use of any party is not required by the other parties.
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MORTGAGE
LorMet Has a Mortgage Solution for Your Specific Needs
Maybe you’re in a position to purchase a home rather than refinance. Our expert lending team has you covered and will guide you through our wide range of available mortgage options!
Conventional Home Loans
A popular option for homebuyers, our top-rated lending team can help you close on your dream home quickly with terms that fit your needs.
VA Home Loans
Backed by the VA, these loans provide competitive rates ad flexible terms for eligible veterans, service members, and their spouses1
FHA Home Loans
Backed by the Federal Housing Administration (FHA), FHA loans often have easier credit qualifications, lower down payments, and closing costs.
1 Veterans, Servicemembers, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veteran Affairs (VA). A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply.
Home Refinance Resources
Get confident in your mortgage knowledge with our resource library!
Ali ShannonAlexis explained everything in detail, she made something really really big, seem really really small.
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Larry LandfordDon’t be on the fence, it’s a no-brainer because you’re treated with respect and kindness here.
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Suannette GierboliniAlexis helped us close early on our home. I will always recommend LorMet!
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Michele HooverI wholeheartedly recommend them to anyone looking for a hassle-free mortgage experience.
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Eric EbingerBuying a home was the most stressful thing I’ve been through, but LorMet made it pleasant.
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