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Introducing the Members Choice "Peace of Mind" Mortgage Program*
A Fixed‑Rate Mortgage Program Designed for Today’s Uncertain Rate Environment
In today's economic environment, we know it can be hard to decide when it's best to take the leap with your mortgage. Now, you don't have to put your plans on hold or worry as much about the timing! With our new "Peace of Mind" Mortgage Program, you can move forward with confidence knowing you can request a one-time rate review if conditions improve, safeguarding both your home financing and your wallet.
Our new program, for fixed‑rate mortgages, is available for primary residences and applies to both home purchases and rate‑and‑term refinances of any term giving you stability today without losing flexibility tomorrow.
The process is simple and at no cost to you!
1.
Within the first 12 months of your mortgage, eligible borrowers may contact the Members Choice Mortgage Servicing Department at 281.754.1101 to request a one‑time, no‑cost interest rate reduction should market rates move lower than the contracted rate on your loan.
2.
Our Servicing Department will review your loan. If approved, you will be notified and the adjusted rate will be set to MCCU’s then-current rate for a comparable fixed-rate mortgage for the same term, as determined by MCCU on the date the request is received.
3.
Your new, lower rate will take effect with the next monthly payment due.
No hassle and no new applications, stress or fees like a full refinance!
Our "Peace of Mind" Mortgage Program is one more way we’re helping members make confident financial choices.
Disclosures
*Discretionary, post-closing program; may be changed or discontinued at any time. Terms and conditions apply. One rate review request within 12 months from the note date, subject to eligibility and MCCU approval. No fee to request and no refinance or new application required. If approved, the rate is adjusted to MCCU’s then-current comparable fixed-rate for the same term, effective with the next payment. Eligible for fixed-rate primary residence purchases and rate-and-term refinances only; excludes second homes, investment properties, jumbo loans, land loans, home equity loans, and HELOCs.
If not currently a Members Choice member, a $5 deposit is needed to establish membership. All memberships and lending products are subject to approval including credit approval.