Buy Now, Refi Later | Mortgage | United Federal Credit Union

purchase a home now,

refinance it later

If high interest rates have been holding you back from buying a home, we’ve got you covered. When you buy today, we’ll help you refinance when rates are lower.

Our local Mortgage Advisors are here to help you get the home you want when you want it and save you money along the way.

Here's how it works:

Apply for a mortgage with United by September 30, 2024, and we’ll give you a $975 mortgage refi lender credit¹ when you close on a fixed-rate conventional, government, or an adjustable-rate mortgage (ARM) by November 30, 2024.
If rates go down or you’d like to refinance in the next three years, redeem your credit by applying to refi your home with United by September 30, 2027.
Get started today! Find a Mortgage Advisor, we're ready to help you every step of the way.

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mortgage loans in a snapshot

Here's a quick overview of what mortgage loans from United offers. Don't think you'll qualify? Reach out to United and discuss your options. We will fit your needs into the perfect mortgage option for you.

competitive rates

flexible repayment terms up to 360 months²

borrow up to 100% of the property's value

easy to apply online, on the phone, or in person

discount with autopay from a Rewards Checking or Ultra Checking account³

100% financing with no PMI available²

loans offered for nearly every state⁴

make payments at any branch location⁵

experienced Mortgage Advisors to help you

option to roll-in closing costs into loan

[1] Subject to credit approval. Only first lien purchase-money mortgages originated with United Federal Credit Union with an application date between 08/01/2024 and 09/30/2024 inclusive and with a closing date on or before 12/31/2024 will be eligible for a “Buy Now, Refi Later” credit toward lender fees up to $975.00 upon refinancing. To apply the “Buy Now, Refi Later” credit, (i) borrowers must meet all lending criteria at the time of refinancing, including without limitation satisfactory collateral, credit score, debt-to-income ratio, loan-to-value ratio, and mortgage payment history; (ii) borrowers must apply to refinance the purchase-money mortgage on or before 9/30/2027 and the refinancing must close with United Federal Credit Union no later than 12/31/2027; (iii) refinancing transaction must be secured by a first lien; (iv) at least 6 consecutive on-time payments must have been made to the purchase-money mortgage; and (v) all of borrowers’ loans with United Federal Credit Union must be current and not otherwise in default. Cash-out refinancings not eligible for the “Buy Now, Refi Later” credit. This is not a commitment to lend. Lender credit only applicable to lender fees, such as application, origination, commitment, processing, underwriting, administration, and funding fees. Lender credit does not apply to fees charged to reduce the interest rate, including discount points and buydown fees, or other costs and fees paid to third parties, including without limitation tax service fees, wire fees, charges for appraisals or property valuations, property insurance costs, flood insurance costs, property taxes or escrow account funding costs, credit report fees, settlement agent/attorney fees, title insurance fees, notary fees, or government fees. Offer is void where prohibited, may not be redeemed for cash, and is non-transferrable. Refinancing an existing loan may cause total finance charges to be higher over the life of the loan. There is no guarantee that a lower interest rate or payment will be available at refinancing. “Buy Now, Refi later” credit may not be combined with any other offers, discounts, or promotions. To claim to the credit, borrower must present their “Buy Now, Refi Later” Credit Eligibility Certificate at the time of application for refinancing.

[2] Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions, available on new mortgage applications. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32 . Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. PMI stands for private mortgage insurance. Mortgage insurance is typically required if you are borrowing a large percentage, usually over 80%, of the property’s value. You can potentially get 100% financing with no PMI. Certain restrictions apply.

[3] 0.125% rate discount available to applicants who register, before loan closing, to have their mortgage payment automatically deducted from a United Rewards or Ultra Checking account each month. Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. Certain restrictions apply. For well qualified buyers

[4] Excludes Alaska, Hawaii, and Texas.

[5] Excludes locations that are specified as Commercial Loan Offices.

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buy now,refi later

$975

mortgage refi lender credit1

purchase a home now,

refinance it later

Here's how it works:

mortgage loans in a snapshot

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further reading

What is mortgage preapproval?

Should I buy a home when interest rates are high?

Benefits of an Adjustable Rate Mortgage

Tips to save for mortgage down payment

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buy now,
refi later

$975

mortgage refi lender credit¹

buy now,
refi later

$975

mortgage refi lender credit¹

buy now,
refi later

mortgage refi lender credit¹