PenFed Mortgage with Confidence

MORTGAGE

Refinancing Your Home

Download eBookWhat you'll learn: Learn the ins and outs of refinance.

EXPECTED READ TIME: 20 MINUTES

There are a lot of reasons to consider refinancing your home.  Perhaps you have equity that you’d like to access with a cash-out refinance?  Perhaps you want to lower your interest rate and reduce your monthly payment, or term of your loan.  Whatever your reason, it’s important to arm yourself with what to expect, prepare for, and understand your options.  We’ve created an eBook called “Ready Set Refi” which highlights everything you need to know for a smooth and simple refinance.

In this eBook we’ve focused on the following to make your refinance as simple as possible:

  • What are the different types of refinancing available and what is best for you?
    1. Rate and term
    2. Cash-out
    3. Streamline refinance
    4. Home Equity loan
    5. HELOC
  • What are your refinancing options?
  • VA Refinancing options
  • Refinancing costs
  • More…

 

 

To learn more about PenFed loans or what loan is right for you:

Sources:

The following sources were used as background or directly attributed throughout this eBook to supplement information available at PenFed.org:

Araj, Victoria. “What Is a Rate and Term Refinance?” Rocket Mortgage, Dec. 2, 2021.

Bundrick, Hal M., CFP. “Reasons For and Against a Home Equity Line of Credit.” Nerdwallet, Aug. 3, 2015.

Federal Reserve Board. Consumer Handbook on Adjustable Rate Mortgages.

Federal Reserve Board. A Consumer’s Guide to Mortgage Refinancings.

Freddie Mac. “Refinance Trends in the First Half of 2021.” Oct. 29, 2021.

Freddie Mac. “Refinance Trends in the First Quarter of 2020.” July 6, 2020.

Mortgage Bankers Association. Mortgage Finance Forecast, September 2021.

Pomroy, Kathryn. “5 Reasons to Get a Cash-out Refinance.” Fox Business, Dec. 17, 2020.

Zillow. “Reasons to Use (and Not Use) a HELOC.” 

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Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

PenFed HELOC

Rates as Low as % APR with flexible use of funds

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5