Mortgage Refinansing Help

Mortgage Refinancing Help: Massachusetts

“Ask the company carrying your current title insurance policy what it would cost to reissue the policy for a new loan. This may reduce your cost. ”

Mortgage Refinancing Help : Business: Financial Services: Banking Services: Credit Unions: Regional: United States : Massachusetts (52)

If you know that you will be moving in 3 to 5 years, you might want to consider refinancing to a 3 or 5 year ARM (adjustable rate mortgage). These loans typically have a much lower rate that a traditional fixed rate loan such as a 30 year fixed, but they do have a fixed rate for the first 3 or 5 years of the loan. This will enable you to benefit from the lower rate, but you won't ever have to worry about the risk of a rate adjustment because you will be selling the home before the fixed-rate period ends.

Mortgage Refinancing Help: Massachusetts ()

See also:

Polish National Credit Union »
Open to residents of Hampden, Hampshire, Berkshire and Franklin counties in Western Massachusetts.

Aldenville Credit Union »
Hampden. Serving Hampden and Hampshire County residents.

MassMutual Federal Credit Union »
Springfield. Serving its sponsor, the Massachusetts Life Insurance Company.

Direct Federal Credit Union »
Needham. Serving the employees of more than 100 sponsor companies.

SJB Federal Credit Union »
Membership is open to individuals and their families in Fall River, Tiverton and Little Compton.

Massachusetts State Employees Credit Union »
Boston. Serves those who are employed in the state of Massachusetts.

Greylock Federal Credit Union »
Berkshire County. Serving the people who live or work in Berkshire County.

Stoneham Municipal Employees FCU »
Middleton. Serving select employee groups.

Northeast Community Credit Union »
Haverhill. Serving those live or work in Essex or Middlesex counties.

Springfield Teachers Credit Union »
Springfield. Serving select employee groups and organizations.

Lowell Firefighters Credit Union »
Lowell. Serving Lowell firefighters, pensioners, and their immediate families.

Goldmark FCU »
Attleboro. Serves select employee groups in Attleboro.

Somerset Federal Credit Union »
Bristol County. Serves anyone who lives or works in any of the 21 cities and towns that make up Bristol County.

Sharon Credit Union »
Serves those who live or work in one of six counties. Membership eligibility, hours and locations, highlights of services offered. Branches in Sharon, East Walpole, and Mansfield.

Polish National Credit Union »
Chicopee. Serving residents of Hampden, Franklin, Hampshire, and Berkshire Counties.

First Citizens Federal Credit Union »
New Bedford. Serving residents and employees in the communities of southeastern Massachusetts.

Luso Federal Credit Union »
Ludlow. Serving more than 3,600 members of the Ludlow community.

RTN Federal Credit Union »
Waltham. Serving employees and the family members of sponsored organizations.

Commonwealth Utilities Employees Credit Union »
Wareham. Serving select employee groups and organizations.

Leominster Credit Union »
Leominster. Serving central Massachusetts.

Winchester Federal Credit Union »
Serving Winchester town employees, eligible businesses and their family members.

St. Anne's Credit Union »
Fall River. Serves individuals and families in Bristol, Plymouth and Barnstable counties.

St. Mary's Credit Union »
Marlborough. Serves those living or working in Marlborough.

Industrial Credit Union »
Boston. Serves anyone who either lives or does business in the Metropolitan Boston area.

Winthrop Federal Credit Union »
Winthrop. Serves the employees, residents and families of Winthrop.

Workers Credit Union »
Fitchburg. Serving select employee groups in central Massachusetts.

St. Anne Credit Union »
New Bedford. Serving those who live or work in Bristol or Plymouth counties.

Taunton Federal Credit Union »
Taunton. Serving people who live or work in Taunton, Raynham, Lakeville, Middleboro, Norton, Rehoboth, Dighton or Berkley.

Tremont Credit Union »
Boston. Serves select employee groups throughout Massachusetts.

IC Federal Credit Union »
Serves those who live or work in Franklin, Hampden, Hampshire, Middlesex, Norfolk, and Worcester counties.

Hanscom Federal Credit Union »
Boston. Serving select sponsor groups in the Boston area.

Saugus Federal Credit Union »
Saugus. Serving the Saugus community.

Community Credit Union »
Lynn. Serves those who live or work in Lynn County.

Medical Area Federal Credit Union »
Boston. Serving select employee groups and organizations.

Digital Federal Credit Union »
Maynard. Serves select companies and organizations in the state. Requires JavaScript.

NMTW Community Credit Union »
Lowell. Serving over 200 communication companies in northern Massachusetts.

Telephone Workers Credit Union »
Brighton. Serves employees of all companies that provide services for the purpose of the transmission and processing of information.

Cambridge Portuguese Credit Union »
Cambridge. Serves select member groups.

GFA Federal Credit Union »
Boston. Serving members of select employee groups and their families.

Bridgewater Credit Union »
Bridgewater. Serves individuals who live or work in Barnstable, Bristol, Norfolk and Plymouth counties.

St. Jean's Credit Union »
Lynn. Serves anyone who lives or works in Essex County.

MIT Federal Credit Union »
Cambridge. Serving MIT employees and their families.

New Bedford Credit Union »
New Bedford. Membership is open to select employee groups.

Merrimack Valley Federal Credit Union »
No. Andover. Serving any employee, or retiree, of a company within the membership field.

Webster First Federal Credit Union »
Webster. Serving communities in Worcester county, Massachusetts.

Harvard University Employees Credit Union »
Cambridge. Serves Harvard University employees and their families.

Fitchburg Municipal Employees Credit Union »
Fitchburg. Serves employees and retirees of the City of Fitchburg and Fitchburg State College.

First Priority Credit Union »
Boston. Serving Boston Post Office employees.

Landmark Credit Union »
Berkshire County. Serves select employee groups in the Berkshire area.

Energy Credit Union »
Serves employees and retirees of KeySpan Energy New England and their family members. Formerly Boston Gas Employees Credit Union.

Everett Credit Union »
Everett. Serving select employee groups in Everett.

When refinancing, don't take the first offer that comes around. Instead you should actively compare both interest rates and lenders.

If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.

Closing costs can be expensive. If you plan on refinancing your home to save money, be sure to take into consideration how much the closing costs on the new loan will cost you.

When lenders offer a "no-cost" loan, they may include a prepayment penalty to discourage you from refinancing within the first few years of the loan. Ask the lender offering a no-cost loan to explain all the fees and penalties before you agree to these terms.