Let’s talk about the MyChoice Mortgage. Designed to simplify your budget, this program allows you to refinance your home in a term and rate that you choose – from one to ten years. The lower the term, the lower the rate.
What’s the difference between a MyChoice and a traditional mortgage?
A big difference between refinancing your home with a MyChoice versus a traditional mortgage product is that most properties do not require an appraisal. However, if your property does require one, NEFCU covers the cost of it, as well as any title work! With closing costs generally limited to $150, you can lower your mortgage payment or rate without worrying about paying a lot out of pocket to refinance.
This fixed rate loan is a great refinance option if you need extra funds for a wide range of things, like home improvement, tuition, or a down payment on a winter home in a warmer climate! Our quick turn around time will get you moving on your new project quickly.
Pay your mortgage off on your own schedule. Your local loan officer can show you what payments would look like for each term so you can choose which works best for you and your budget.
Questions? Give us a call at 866.80.LOANS or visit us online for more information and to apply.