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Mortgage Refinancing Help
: Business: Financial Services: Banking Services: Credit Unions: Regional: United States
: Minnesota (81)
 Almost 30 million Americans qualify for a VA Loan. With a VA Loan, you can qualify for a VA Streamline Refinance. You may also be able to refinance your home with an FHA Streamline refinance.
 See also:
 Heart of the Lakes Credit Union »
Open to people who live or work in eastern Otter Tail County. Offices in New York Mills and Perham. Rates, a look at their products and services.
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 West Metro Schools Credit Union »
Edina and Hopkins. Not-for-profit financial cooperative offers savings, checking, loans. Hours, rates, how to join.
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 Carpenters Federal Credit Union »
St. Paul. Serves carpenters, joiners, millwrights and related tradespeople who are members of select union locals. Family members also eligible. Offers savings, checking, credit card and debit card, loans. Contact information, directions.
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 Riverview Credit Union »
South St. Paul. Nonprofit institution offers savings accounts, loans, wire transfer and other services to select employee groups.
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 Highgrove Community Federal Credit Union »
St. Paul. Serving the Highland Park and Macalester-Groveland neighborhoods.
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 Share Advantage Credit Union »
Duluth. Serving federal employees who live or work in Duluth, several area hospitals, medical centers and select employee groups.
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 North Shore Federal Credit Union »
Serves people who reside, work, worship, or go to school in Lake or Cook County. Offers checking, savings accounts, loans, access to accounts by telephone. Branches in Grand Marais, Lutsen, and Silver Bay.
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 Minnesota Teamsters Credit Union »
Minneapolis. Offers savings, checking, loans, to Teamsters and their families. Access accounts by phone. A look at their services and how to open an account.
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 Northern Communities Credit Union »
Serving employees of the cities of Duluth, Eveleth, Virginia, and Mt. Iron; employees of St. Louis County; selected other employees. Membership information, products and services. Has offices in Duluth and Virginia.
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 Retail Employees Credit Union »
Membership open to various grocery and retail employees, including Snyder Drug, SuperValu, Tom Thumb. Offices in St. Louis Park and West St. Paul.
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 Affinity Plus Federal Credit Union »
Serves select employee groups including employees of any state-funded organization and students and alumni of state colleges. Locations all around the state.
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 Electrus Federal Credit Union »
Brooklyn Center. Open to members of IBEW local unions 343, 292, and 160, contractors to those locals, and their families. Services offered, quarterly newsletter, annual report (in PDF), rates.
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 Mid-Minnesota Federal Credit Union »
Provides checking, loans, and other financial services to people who live or work in Crow Wing, Douglas, or Morrison County, or some townships in three neighboring counties. Five locations.
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 Minnesota Power Employees Credit Union »
Duluth. Serves employees and families of Allete, Qwest and Qwest Dex, AT&T, LHB, Cellular One, other select employee groups.
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 Fulda Area Credit Union »
Membership eligibility includes anyone who lives or works in any one of forty townships in Nobles, Murray, Cottonwood and Jackson Counties. Offers loans, checking accounts, other financial services. Locations in Fulda and Worthington.
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 Pipefitters Steamfitters Credit Union »
St. Paul. Serves members of U.A. Local 455 and their families. Offers checking, savings, card services, loans, mortgages.
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 Proctor Federal Credit Union »
Open to people who live or work in the Proctor School District or west of Lake Ave. in Duluth, their immediate family members, and surviving spouses of members. Checking, saving, and other financial services. Offices in Proctor and Duluth.
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 Dawson Co-op Credit Union »
Dawson. Open to any resident of Lac Qui Parle County. Offers savings, checking, loans, and other financial services. Description of products and services, how to join, contact information.
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 Crow Wing Power Credit Union »
Brainerd. Open to members and employees of the Crow Wing Power electrical cooperative, as well as customers and employees of People's Security. Offers checking and saving accounts, loans. Hours and location, current rates, fees, application forms.
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 North Memorial Federal Credit Union »
Membership open to employees of North Memorial Medical Center, affiliated offices and clinics, and St. Therese Home, and their families. Hours, FAQ, notices, brief description of their services. Locations in Brooklyn Center and Robbinsdale.
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 Novation Credit Union »
Serving employees of 3M, Imation, and HTI, along with other employee groups, and their families. Offers loans, card services, online bill pay, checking, savings. Offices in St. Paul, Hutchinson, Oakdale, and Woodbury.
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 Babbitt Steelworkers' Credit Union »
Babbitt. Member-owned nonprofit financial institution. Contact information, hours, list of services.
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 Hibbing Cooperative Credit Union »
Hibbing. Offers savings, loans, other services. Rates, fee schedule. Parts of site require JavaScript.
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 Star Choice Credit Union »
Minneapolis. Serves employees of The Star Tribune, other news media, the advertising industry, or anyone who lives or works in Hennepin County. Offers checking, mortgages and other loans, savings, credit card.
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 Austin City Employees Credit Union »
Austin. Open to employees and retirees of the City of Austin, Austin Utilities, and ISD #492, and their families. Hours, location, current rates, mission statement.
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 Cities Credit Union »
Originally founded by telecommunications workers. Now serves select employee groups including AT&T, Qwest, American Family Insurance, Children's Discovery Learning Center. Offices in St. Paul and Vadnais Heights.
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 SMW Federal Credit Union »
Serves employees of Silgan Container Corporation, and members of Sheet Metal Workers International Association Local #10. Checking, savings, card services, loans, online banking. Maplewood and Fridley.
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 Postal Credit Union »
Open to the Twin Cities metro area. Offers loans, credit and debit cards, mortgages, checking, savings and investments, and home banking. Offices in North St. Paul, West St. Paul, Woodbury and Hugo.
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 Floodwood Area Credit Union »
Floodwood. Membership open to people who live, work, worship, or attend school in one of 23 townships, mainly in southwestern St. Louis County. Not-for-profit institution offers savings, loans, checking, card services.
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 Minnesota Valley Federal Credit Union »
Mankato. Open to people who live, work, worship, attend school, or volunteer in Blue Earth, Nicollet, or Le Sueur Counties. Offers loans, savings, checking, online banking, debit cards. Locations, news items, description of services.
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 Building Trades Credit Union »
Serves a long list of construction-related union locals, building trade associations, select employee groups. Offers loans, checking, savings, card services. Offices in Inver Grove Heights, Maple Grove, Minneapolis, and Shoreview.
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 Federated Employees Credit Union »
Owatonna. Serving Federated Insurance Company employees.
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 Great River Federal Credit Union »
Membership open to anyone who lives, works, or worships in the tri-county St. Cloud area. Offers savings and checking accounts, mortgages, loans, other financial services. Offices in St. Cloud, Waite Park, and Sauk Rapids.
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 Eaton Employees Credit Union »
Eden Prairie. Serving Eaton employees and their families. Offers checking and savings accounts, loans, online banking, gift cards. Current rates, how to join, list of services.
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 TopLine Federal Credit Union »
Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott or Washington counties in Minnesota and their immediate family members.
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 Hometown Federal Credit Union »
Open to anyone who lives, works, worships, or attends school in Steele, Rice, Dodge or Waseca counties. Description of their products and services. Rates, employment opportunities. Offices in Owatonna and Faribault.
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 Bluestone Federal Credit Union »
Eagan. Serves select employee groups in the health and insurance fields, including Blue Cross Blue Shield. Offers savings, checking, escrow accounts, loans, credit and debit cards. Has a kids club, and a financial package designed for teens and young adults.
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 Park Schools Credit Union »
St. Louis Park. Provides financial services to current and former employees of the St. Louis Park public schools. Hours, location, current rates, fee schedule.
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 Red Wing Credit Union »
Red Wing. Serves select employee groups including the City of Red Wing, Goodhue County, Red Wing Shoe Company, Riedell Shoes. Offers loans, savings, checking, banking online or by telephone.
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 Soo Line Credit Union »
Serving a number of select groups including employees of Amtrak, Pope County, Prior Lake-Savage School District, Old Dutch, Miracle Ear. Locations in Minneapolis, Brooklyn Center, Glenwood, and Savage.
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 Members Cooperative Credit Union »
Primarily serves residents of the Cromwell and McGregor school districts, and members of certain co-ops in northeastern Minnesota. Offers loans, savings, card services. Offices in Cloquet, Duluth, Aitkin, and McGregor.
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 Midland Co-op Credit Union »
Minneapolis. Serves select employee groups, including B.J. Transport, Carlson Highland, Hotsy Equipment. Services, rates, who's eligible and how to join.
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 Collegeville Credit Union »
Collegeville. Open to residents of Collegeville, Avon, St. Joseph; employees of St. John's University or the College of St. Benedict; members of the parish of St. John the Baptist. Location, hours, overview of services.
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 Diversified Credit Union »
Serves select employee groups including Minnegasco, Dunwoody College of Technology, E.F. Johnson Company. Offers checking, loans, savings, online banking. Offices in Minneapolis and Waseca.
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 Alexandria Schools Employees Credit Union »
Alexandria. Open to employees of District 206, Alexandria Technical College, Runestone Area Education District, and Runestone Regional Learning Center. Loans and savings accounts. FAQs, current rates, application form.
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 Accentra Credit Union »
Albert Lea and Austin. Open to anyone who lives in Mower, Olmsted, Freeborn or Winona County. Also select employee groups including Hormel, Pinkerton. Checking, Christmas Club, loans, credit cards, insurance.
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 TruStar Federal Credit Union »
Open to anyone who lives, works, worships, or attends school in Koochiching, Beltrami, Hubbard, or Wadena Counties. List of services, online access to accounts. Branches in International Falls, Big Falls, Menahga, and Park Rapids.
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 Minnesota Catholic Credit Union »
Minneapolis. Serving select groups including all Knights of Columbus in the Archdiocese of St. Paul and Minneapolis, and several parishes in northeast Minneapolis. Offers savings accounts, checking, loans, mortgages.
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 Hiway Federal Credit Union »
St. Paul and Minneapolis. Serves select employee groups and individuals who live, work, worship or attend school in the Twin Cities. Offers loans, savings, checking, online banking, credit card and other financial services.
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 Greater Minnesota Credit Union »
Offers savings accounts, loans, credit card, checking, and other financial services. Four locations in east central Minnesota, and one in Elk River.
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 Wakota Federal Credit Union »
South St. Paul. Membership open to anyone who lives or works in South St. Paul, and their immediate families. Offers mortgages and other loans, checking, savings, card services, online banking. Special clubs for young people.
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 St. Cloud City & County Employees Credit Union »
St. Cloud. Serves employees of the City of St. Cloud, Stearns County, Great River Regional Library, and School District 742. Description of services and membership benefits, rates.
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 Electric Machinery Employees Credit Union »
Minneapolis. Serves select employee groups, including Bokers, Clinch-On Products, Timmerman Finishing. Offers savings accounts, loans, other financial services. Rates, hours, location.
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 Peoples Community Credit Union »
Hopkins. Open to people who live, work, or worship in Hopkins, and to employees of certain divisions of Supervalu and Cub. Offers checking, credit card, savings and investments, access online or by phone.
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 Como Northtown Community Credit Union »
St. Paul. Serves members of the Como Zoological Society, employees of BN/SF and Amtrak, and people who live or work in this north side neighborhood.
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 First Alliance Credit Union »
Rochester. Serves a number of select groups, including employees of the Cities of Eyota, Rochester, Stewartville, and Zumbrota; Olmsted County employees; RCTC students; Minnesota-Wisconsin Southern Baptist Convention.
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 Associated Healthcare Credit Union »
Serves select employee groups including employees of Allina Health Systems and of Children's Health Care of Minnesota, physicians with privileges at Allina hospitals and their staff. Main office in St. Paul; also offices in Minneapolis, Fridley, Coon Rapids.
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 Lakes Area Credit Union »
Grand Rapids. Serves anyone who lives, works, worships, or attends school in Itasca County. Has special savings accounts for children and teens. Offers description of their products and services.
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 STARCOR Credit Union »
Serves the employees of St. Cloud and Rush City correctional facilities, and their families, or anyone who lives, worships, or attends school in Sherburne County. Rates, scholarship information, hours for their offices.
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 NorthRidge Community Credit Union »
Membership available to people who live, work, or worship in St. Louis, Lake, or Itasca County. Rates, fee schedule, description of services. Offices in Hoyt Lakes and Biwabik.
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 MinnCO Credit Union »
Serves members of Federated Co-ops, Inc., and their families. Offers checking, savings, loans, mortgages. Offices in Cambridge, Isanti, and North Branch.
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 Employees First Credit Union »
St. Paul. Not-for-profit, members-only, organization offers financial services for Buckbee Mears employees and their families. How to join, bullet list of services offered, rates.
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 Central Minnesota Credit Union »
Membership open to people who live or work in the tri-county St. Cloud area, Todd or Wadena County, or parts of three other counties. Checking, savings, loans, credit cards. Several locations in Stearns County, and one in Grey Eagle.
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 St. Cloud Federal Credit Union »
St. Cloud. Open to anyone who lives or works in the tri-county St. Cloud area. Car loans, kids' savings accounts, online banking.
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 Two Harbors Federal Credit Union »
Two Harbors. Open to anyone who lives, works, attends school, or worships in Lake County. Services, current rates, fee schedule.
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 Co-op Credit Union of Montevideo »
Open to all residents of Montevideo and Canby, anyone living or working in the Benson School District, and other select groups. Main office in Montevideo, with branches in Benson and Canby.
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 Richfield/Bloomington Credit Union »
Serves select groups of employees, volunteers, organization members, and high school students. Mission statement, who can join, help, news, online forms. Has branches in Bloomington and Richfield.
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 Lake State Federal Credit Union »
Serves people who live, work, worship, own real estate, attend school, or participate in an organization in Pine or Chisago County or the southern half of Carlton County. Offices in Moose Lake, Sandstone, Hinckley, and North Branch.
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 St. Paul Federal Credit Union »
St. Paul and Minneapolis. Serves members of IBEW Local 110, affiliated organizations, the Local's contractors, anyone who lives or works in Minneapolis or St. Paul. Overview, list of services, contact information.
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 TruStone Financial »
Serving members of Education Minnesota and other select groups. Offers loans, online bill pay, checking, credit card, and other financial services. Four branches around the Twin Cities, and one in Renville.
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 Mayo Employees Credit Union »
Rochester. Serving current full-time or part-time and retired allied health employees of Mayo Foundation.
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 South Metro Federal Credit Union »
Prior Lake. Open to anyone who lives or works in Scott County.
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 Embarrass Vermillion Federal Credit Union »
Open to anyone who works, worships, or attends school north of Highway 16 in St. Louis County. Businesses, nonprofits also eligible. Offers checking, savings accounts, loans. Branches in Aurora, Embarrass, and Tower. Requires Javascript.
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 St. John's Credit Union »
Little Canada. Open to any registered member of Catholic parishes St. John the Evangelist (Little Canada), St. Jerome, Holy Redeemer, St. Odilia, St. Pius X, or St. Mary of the Lake (White Bear Lake). Offers savings, loans, debit card.
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 City and County Credit Union »
Serves any person who lives, works, worships or attends school in Ramsey or Washington Counties, Maple Grove, Plymouth, or Osseo. Also parts of northern Dakota County. Three offices around the Twin Cities.
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 Endura Financial Credit Union »
Serves employees and retirees of Honeywell, its subsidiaries and affiliates. FAQs, news items, current rates, their services and types of accounts. Branches in Brooklyn Center, Golden Valley, and Minneapolis.
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 Hermantown Federal Credit Union »
Open to anyone who lives, works, or attends school or church in St. Louis County, plus members of several construction-related unions. Services include transactions by telephone, online bill pay. Offices in Hermantown and Duluth.
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 It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch.
For both new buyers and refinancers, it's important to understand what a no-cost mortgage loan or a no-cost refinance loan really means. "No cost" does not mean that closing costs (also known as settlement costs) have been erased. It means that the closing costs will be factored into the interest rate associated with the loan. Of course, this also means that, all other things being equal, the interest rate associated with a no-cost mortgage will always be higher than one where the borrower pays the closing costs up front.
Many people with poor credit history look to take out loans from friends and family. While this may be a fairly good short term solution, it might not be the smartest of long term business moves. What you need to do is refinance your mortgage and lower your payment. The best thing you can do for yourself is to shop around. I'd be willing to bet that some banks will give you a better deal on a mortgage refinancing than you think they would. Find out who's got the best rate to get the best deal on your loan. This might take a little legwork, but it could pay off. Finding that right bank to give you the right deal on your refinancing will be worth the effort.
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.
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