Mortgage Refinansing Help

Mortgage Refinancing Help: Kentucky

“If your property value reduces and you refinance up to 80% of the reappraised value, your original mortgage amount may be higher than this amount. Thus, the new loan will not be sufficient enough to help you pay down the existing one. ”

Mortgage Refinancing Help : Business: Financial Services: Banking Services: Credit Unions: Regional: United States : Kentucky (16)

If you have a mortgage, you should keep an eye on rates-especially if you have an adjustable rate mortgage. Getting locked in at a lower, fixed rate can save you hundreds, possibly even thousands, of dollars over the life of your loan.

See also:

Owensboro Federal Credit Union »
Owensboro. Serves those who live or work in Owensboro.

Chemco Federal Credit Union »
Louisville. Serves BFGoodrich Company employees and other select employee groups.

Kentucky Employees Credit Union »
Frankfort. Serves anyone employed in the state of Kentucky.

Commonwealth Credit Union »
Frankfort. Serves any member of a KY retirement system and their family.

The Health and Education Federal Credit Union »
Lexington. Membership is open to select employee groups.

Fort Knox Federal Credit Union »
Fort Knox. Serves civilian and military personnel stationed at Fort Knox.

University of Kentucky Federal Credit Union »
Lexington. Serves students and employees of University of Kentucky.

C&O Credit Union »
Covington. Serving select employee groups.

Service One Credit Union »
Bowling Green. Serves select employee groups and organizations.

Kentucky Telco Credit Union »
Louisville. Serves employees of telecommunication companies in Kentucky.

KUE Federal Credit Union »
Lexington. Serving members of select utilities companies.

Park Community Federal Credit Union »
Serving the financial needs of residents of the Louisville Metro Area and other defined communities.

Rural Cooperatives Credit Union »
Louisville. Serves employees and members of electric cooperatives in Kentucky.

Paducah Federal Credit Union »
Paducah. Serves members of 125 different employers in the Paducah area.

Daviess County Teachers Federal Credit Union »
Owensboro. Open to employees of Daviess County Public Schools.

L&N Federal Credit Union »
Louisville. Serves select employee groups and associations.

You can also save money on your mortgage refinancing by paying "points." This is a fee that effectively lowers the interest rate of your loan. If you plan on staying in your home for a long time, this long-term strategy can be an excellent way to save thousands of dollars.

Be Inquisitive. It's your responsibility to make sure that you understand the terms of your loan. Ask questions and listen carefully to the answers. Don't sign your loan documents until you are satisfied with the information and confident that you have made the right decision.

If there is a big difference between the initial interest rate and the APR listed in the ad, it may mean that there are high fees associated with the loan.

Ask for more than just rates. Bad loan officers will tell you anything to keep you on the phone -- then change the details to suit them later. Instead, make them get real with you! Ask how long they've been in the industry. Probe them about their experience in the industry. Also, ask what their opinion is on the current market and where it's going.