Low Rate Refinance | Loans | Redstone Federal Credit Union

Live Brighter®

and refinance with confidence

Lower Rate Refinance

Are you ready to refinance? Perhaps rates have improved since you first bought and you want to lock in a lower rate. Maybe you’ve built enough equity that you no longer have to pay PMI. Whatever the reason for your refinance, we can help.

When you refinance your mortgage to lower your rate or change your term, it’s called a Limited Cash Out Refinance. The amount you can finance depends on how you intend to use it.

If you want to pay down other debts or use your home’s equity for improvements, take a look at our Cash Out options.

LOWER RATE REFINANCE

VA Mortgages

VA Mortgages

Refinance up to

100%

of appraised value plus closing costs

Fixed Rate Mortgages

Fixed Rate Mortgages

Refinance up to

95%

of appraised value

Adjustable Rate Mortgages (ARM)

Adjustable Rate Mortgages (ARM)

Refinance up to

90%

of appraised value

Buy

  • Conventional
  • First-time homebuyers
  • VA
  • USDA
  • Jumbo
  • Condominium 
  • Second Home
  • Investment Property
  • No Private Mortgage Insurance (PMI) 
  • Down Payment Assistance Programs

Refinance

  • Lower Rate or Term
  • Cash Out
  • VA
  • Home Improvement
  • Home Equity

Build

  • One-Time Close
  • Land Loan

Estimate your closing costs, explore rates and terms, and calculate monthly payments.
Get started with your personalized rate quote.



Featured Rates:

Interest rate as low as:APR as low as:
7 Year Adjustable Rate Mortgage3.750%3.559%
15 Year Fixed VA Loan3.375%3.866%

Why choose Redstone for your Home Loan? 

Competitive rates and closing costs

When you choose Redstone, you get great rates, flexible terms, and low closing costs.

Team of experts

Our Mortgage Team has years of experience and knows the real estate industry inside and out.

Local servicing

From monthly payments to escrow and insurance, Redstone services nearly every mortgage we make.

Home Equity Line of Credit

Borrow up to

$150,000

Minimum loan amount $10,000.

Finance up to

100%

of the appraised value of your home

APR as low as

4.625%

Key Features

  • Variable rate, tied to Prime.
  • Borrow funds as needed. Advance through online banking or access with your HELOC Visa credit card.
  • Payments are due on the 15th of every month.
  • Minimum monthly payment is 1.5% of outstanding balance or $100.00, whichever is greater.
  • May be eligible for tax benefits on interest (check with your tax advisor).
  • No annual fee, no appraisal fee, no closing costs.

Ready to apply for a Home Equity Line of Credit? It’s easy!

EVERY Redstone Visa credit card includes all of these features

Convenience

Quick and easy purchases 

Visa is accepted all over the world

Warranty Manager Service: additional product registration to extend the manufacturer's original warranty on products you buy

Security

Zero-liability fraud protection

Monitor credit card activity with Credit Card Control

Real-time fraud monitoring and fraud text alerts

Identity theft assistance

Savings & Discounts

With Visa SavingsEdge®, you’ll receive discounts at select retailers when you use your Visa credit card.

Redstone Discounts!® when you use your card at many local businesses.

Additional Benefits    

Travel and Emergency Assistance

24-hour Roadside Dispatch service

Auto Rental Collision Damage Waiver insurance coverage for cars rented with your Visa card

Warranty Manager Service manage, use, and extend the warranties of eligible items purchased with your Visa card

Mortgages are only available for properties located in Alabama and Tennessee.

APR=Annual Percentage Rate

Must be an RFCU® member to obtain a loan. Must be eligible for membership and open a share savings account.  A minimum balance of $5.00 is required to open and be maintained in share savings account at all times.  Fees and other restrictions may apply.   All loans subject to credit approval.  Rates, terms, and conditions are subject to change without notice.  Other restrictions may apply.  RFCU is an Equal Opportunity Lender.  Rates are determined by an evaluation of applicant credit at account opening.  Your rate may be different. Fixed rates remain fixed for the life of the loan and adjustable rates are subject to change after consummation. Various Mortgage programs and terms are available. Must create separate user name and password to gain access to mortgage application process.

A typical purchase transaction example for 15 Year VA Loans:
The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $102,150 and a purchase price of $100,000 (assumesa 0% down payment). For a 15-Year Fixed Rate VA Loan, with a $2,150 financed VA Funding Fee, at 3.250% with zero discount points, the APR is 3.733%. The monthly payment schedule would be 179 payments at $717.78 and 1 final payment of $716.96. An escrow (impound) account is required and thus the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

A typical purchase transaction example for a 7 Year ARM (30 year):
The information provided assumes the purpose of the loan is to purchase a property with a loan amount of $90,000 and a purchase price of $120,000 (assumes a 25% down payment). At a 3.625% initial interest rate with zero discount points, the APR for this loan type is 3.372%, subject to increase. Based on current market conditions, the monthly payment schedule would be: 84 payments of $410.45 at an interest rate of 3.625%; 275 payments of $375.65 at 2.75%; 1 payment of $375.11 at an interest rate of 2.75%. ARM loans are variable rate loans; interest rates and payments may increase after consummation. An escrow (impound) account is required and thus the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. If the down payment is less than 20 percent, private mortgage insurance (PMI) will be required, which could increase the APR and/or monthly payment.

Discount of the Month | Redstone Federal Credit Union

Refer a Friend | Redstone Federal Credit Union

Insurance Services | Redstone Federal Credit Union

FEATURED RATES

Balance transfer0% APR for 12 mos

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt

LEARN MORE

30-year fixed mortgage low 3.375% / 3.501%

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt

LEARN MORE

Redstone business solutions icon

New auto loans as low as 2.35%

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt

LEARN MORE

Personal loans as low as 9.99% APR

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt

LEARN MORE

Join the Conversation #RedstoneFCU

What Will Your Business Do With 5% CashBack?

Live Brighter: Welcoming the Next 65 Years. Click to learn all about it. http://bit.ly/2dqy6Ka   #RFCU65 #creditunion

Live Brighter: Welcoming the Next 65 Years. Click to learn all about it. http://bit.ly/2dqy6Ka   #RFCU65 #creditunion

LOCATE A BRANCH OR ATM

Join The Redstone Family Today

Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.

X Close