We can help you lower your rate or shorten your term for decreased monthly payments, or tap into your equity to get cash for funds
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.
Discover Saving Opportunities
With our lower rates, you could save on your monthly payment or lower your term. Plus, we have low closing costs fees.
Cash In Hand
Access the equity in your home and get cash-out during refinancing to pay for major expense or other needs.
Personal & Expert Guidance
Our experienced advisors will listen to your needs and guide you through the mortgage process.
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 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 eliminates concern over future interest rate spikes.
- 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.
Ready to get your mortgage refinance started?
Start your Application Online
Apply by Phone
Call us at 281.754.1103 to start a new loan by phone
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
Find out what your adjustable mortgage payments may be. Get Your Payment
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
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.