Important Information You Should Know:
- This offer applies exclusively to primary residences.
- Only fixed-rate products are eligible.
- Costs and fees are due at the time of rate lock request.
- Rate modifications must be completed within the first 5 years from the funding date of your mortgage.
- Investment properties, vacant land, and construction loans are not eligible.
- The total balance of all loans on the property cannot exceed 100% of the homes value.
- Must meet all Rate Modification eligibility requirements at the time of modification request.
- Applicable for application dates between April 1, 2025 and June 30, 2025.
Interested in applying for a mortgage? Contact our Mortgage Loan Specialist today and ask about our No-Refi Rate Modification!
Rate Modification vs. Refinancing
A rate modification adjusts the interest rate on an existing loan, offering significant advantages to borrowers. It’s a practical way to reduce monthly payments and save money over the course of a mortgage. Unlike a refinance, a rate modification doesn’t involve creating a new loan or restarting the loan term. Additionally, it typically comes with lower fees than a traditional refinance, making it a more affordable and appealing option for many homeowners.
*Subject to loan eligibility and credit approval. To be eligible for No-Refi Rate Modification must meet all of the following criteria: mortgage application submitted April 1, 2025 to June 30, 2025; loan closed by December 31, 2025; loan is one of the following fixed-rate mortgage products: 10-year, 15-year, 20-year, or 30-year; purchase purpose only, no cash-out refinances, owner-occupied primary residence only; max 100% combined loan-to-value. Rate modification request must be submitted in writing within 5 years of loan closing. Max 2% rate reduction. Offer requires checking account, enrollment in paperless statements, and all accounts in good standing. Limit one rate modification per loan. Current fees: rate modification base-fee for processing - $2,000, non-refundable initial rate lock fee - $250, additional costs for loan level price adjustments due to credit score and rate relock fees may apply. These terms and conditions do not constitute a commitment to lend, nor a guarantee that you will be approved. Rate modification will permanently reduce your interest rate and your payment will be modified but the terms contained in your loan documents, including the principal balance, maturity date, and additional amounts due for escrow will remain in effect. Offer is non-transferable and cannot be combined with any other offer. Offer and fees subject to change without notice. Federally insured by NCUA. NMLS #417214.