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Routing Number: 272479663 Swift Code: MSUCUS44
 
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SmartLine Home Equity Loan
SmartLine Home Equity Loan
Refinance Your Mortgage
Refinancing your mortgage pays off your existing loan and replaces it with a mortgage that is more beneficial to you.

Conventional Fixed-Rate Mortgage
Rates as low as 7.000% (7.098% APR)
• 10, 15, 20, 25, and 30-year terms

Adjustable-Rate Mortgage
Rates as low as 6.750% (7.320% APR)
• Select from 7-1, 5-1, 3-1, and 5-5 with a 30 year term.


To apply, click the Apply Now button below or contact the Mortgage Department directly at 517-333-2424.
Apply in Minutes, 24/7
Start the process when you're ready -- apply in the MSUFCU Mobile App or on the website anytime.
Lower Your Rate
This is a great opportunity to lower your interest rate to save money.
Shorten Your Term
By shortening your term, you are saving the interest you would have paid with the longer term.
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How long will it take to refinance my mortgage?
You can expect the process to take 35-45 days to complete.
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What costs should I anticipate for a mortgage refinance?
The cost of refinancing a mortgage should be considered along with the potential benefits. The cost will depend on various factors including the loan amount, property location, title company fees, the need for a valuation report, private mortgage insurance, and if you escrow property taxes and/or homeowner's insurance.

Homeowners can refinance to lower their loan term and/or interest rate, or in some cases to take cash out using the equity in their home. Taking cash out, or extending the loan term, can result in additional interest expense and taking longer to repay the loan, which should be considered in any refinance decision. The closing costs of a refinance can often be rolled into the new loan, or can be paid out of pocket depending on your preference.

To learn more about refinance options please call our Mortgage Department at 517-333-2424.
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What information can I get before deciding to refinance my mortgage?
An MSUFCU mortgage loan officer can walk you through the process and provide an amortization table on any term you are considering. The amortization table will show what your new payment would be and how that payment is allocated for principal, interest, and escrow (if applicable).
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Get FileCFPB Your Home Loan Toolkit

Home loans available for homes in the following states: Michigan, Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Minnesota, Missouri, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin. Currently construction home loans are only available in Michigan. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, your rate may be higher.

Fixed-Rate Mortgage Loan Payment Example:
A primary residence, owner-occupied, single family home in Michigan, with a purchase price of $250,000 with 20% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $200,000 borrowed at a 7.000% interest rate (7.098% APR) for a term of 360 months would require monthly payments of $1,330.60. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

Jumbo Fixed-Rate Mortgage Loan Payment Example:
(Minimum loan amount $766,551): A primary residence, owner-occupied, single family home in Michigan, with a purchase price of $958,189 with 20% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $766,551 borrowed at a 7.250% interest rate (7.278% APR) for a term of 360 months would require monthly payments of $5,229.23. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.

5/1 ARM Mortgage Loan Payment Example:
A primary residence, owner-occupied, single family home in Michigan with a purchase price of $250,000 with 20% down payment, all borrowers with credit scores of 740 or higher, the mortgage for $200,000 borrowed at 6.750% interest rate (7.320% APR) for a term of 360 months would require monthly payments of $1,297.20. Payment example does not include property taxes, homeowners insurance, and/or private mortgage insurance and your monthly payment obligation will be higher. With a 5/1 ARM, your loan will have an initial fixed-rate period of 60 months. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of the reset. Rate is variable after the fixed-rate period and subject to change every year for the remaining life of the loan. Credit and collateral is subject to approval. Rates, terms, and conditions are subject to change at any time based on market conditions or other business factors. Equal Housing Lender.