We can help you lower your rate, decrease your monthly payments, and shorten your term on your mortgage loan
Refinancing your mortgage loan with Members Choice can improve your expenses or allow you to tap into your home's equity with a cash-out refinance to get the funds you need during a downturn.
Discover Saving Opportunities
Get $0 down and up to 100% financing. Plus, low closing cost fees.
Get Cash You Need Quick & No Payments 90 Days*
We'll help you access the equity in your home to pay for your major expense. Also, your first payment won’t be due for three months after closing.
Personal & Expert Guidance
Members Choice has an experienced advisor that will listen to your needs and guide you through the mortgage process to find the best home loan for you.
Additional Members Choice Mortgage Loan Benefits:
- Online access – Manage your account through Online and Mobile Banking from anywhere.
- Free Home Buying Guide – Get our guide for finding, buying and financing a new home for yourself or a family member
A Mortgage Loan that Best Suites Your Needs
Over the years, Members Choice has helped many local residents attain their financial goals through refinancing. Learn more about the mortgage refinancing options we provide.
- Securing a Lower Rate: One of the most common and best ways to save on your existing mortgage loan is to refinance to a lower interest rate. Plus, it also increases the rate at which you build equity in your home, and it can decrease the cost of your monthly payments.
- Shorten the Term: Shorten the term of your loan to pay less interest over the life of the loan and own your home quicker.
- Converting to Adjustable-Rate or Fixed-Rate Mortgage: If you began with ARM to make initial payments more affordable, you could shift to a fixed-rate loan after you've built up equity. Converting to fixed-rate mortgage results in a lower interest rate and eliminates concern over future interest rate spikes. Switching from a fixed-rate loan to an ARM—which often has a lower monthly payment than a fixed-term mortgage—can be a good financial strategy if interest rates are falling.
- Tap Equity or Consolidate Debt: With a cash-out refinance, homeowners can tap into equity from their home to pay for home repairs, major expenses, or consolidate debt that carries higher interest rates.
When you refinance with Members Choice, you'll enjoy the high level of personal service you expect from being part of our family.
Current Mortgage Loan example for a $175,000 loan amount, at 80% loan-to-value:
| Mortgage Term | Rates as low as |
|---|---|
| 15 Year Fixed |
2.500% interest rate / 2.704% APR |
| 30 Year Fixed |
2.750% interest rate / 2.861% APR |
Ready to get your mortgage refinance started?
Apply Online
Apply by Phone or Email
FAQs about Mortgage Refinancing
How much can I save by refinancing my mortgage?
Whether you want to lower your monthly payment or shorten your mortgage term, see how much refinancing to current rates could be a smart financial solution for you. Use our Mortgage Refinancing Calculator.
What is a mortgage refinance?
A mortgage refinancing creates an entirely different mortgage loan – your new loan replaces your old one. You can refinance with a new and often better interest rate, have a new monthly payment, and updated term.
Do I need good credit to refinance?
Since refinancing creates a new mortgage loan, there’s an approval process. You have to complete a new mortgage application, and the lender will review your credit and income.
How much equity do I need to refinance?
The amount of equity you need to refinance depends on the type of loan and the lender. Speak to our Mortgage Loan Officer at 281.754.1103 to learn more.
Mortgage Loan Resources
Adjustable Rate Mortgage Calculator
Mortgage Loan Rates
Mortgage rates are issued daily. Please contact a Mortgage Loan Officer at 281.754.1103.
Homeowners Insurance with TruStage
Home insurance protects your home and what's inside it. It covers you against losses or damage from fire, weather, theft and more. And it protects you from liability if an accident happens on your property. View More on TruStage
Monitor your credit score with SavvyMoney
If you’re already a member, you already have access to SavvyMoney — a free, educational tool in your online banking portal. SavvyMoney is a way to help you monitor your credit score, prior to getting a hard pull during during the application process. Login, then click on the SavvyMoney link to get your current VantageScore 3.0 credit score and report. Get My Credit Score.
Disclosures
APR=Annual Percentage Rate
Mortgage home loans are available on residential primary residences and second/vacation properties and investment properties located in Texas. Manufactured homes not allowed.
If not currently a Members Choice member, a $5 deposit is needed to establish membership. All memberships are subject to approval including credit approval.