Save money on your mortgage with a Streamline Refinance: If you have an existing MSUFCU mortgage and are looking to lower your rate, and possibly shorten the term of your loan, a Streamline Refinance may suit your needs.

Lower your rate while keeping the same term
Additional option to shorten term
Minimal documentation required
Easy online process for most loans
Typically 1-3 business days to complete the process
Select loans may take 4-6 weeks and require additional documentation
Streamline Refinance fees as low as $1,250

Interested in a StreamLine Refinance?
Contact the mortgage servicing department at: 517-333-2424 ext. 2610

Did you receive an access code?
Click here to review your Streamline Refinance Offers.

Low-Cost Mortgage Streamline Refinance

The fee for Streamline Refinance ranges from $1,250 to $2,750 and is generally about half the cost of a traditional refinance.

Lower Your Mortgage Rate Quickly

Many loans qualify to complete the Streamline Refinance online in as little as 1-3 business days.

Option to Shorten Your Loan Term

Shorten your loan term for a better rate and greater savings versus your current loan term.

Frequently Asked Questions

Your personalized access code can be found in your email inbox. If you have questions about refinancing, visit a branch for more assistance or contact us at 800-678-4968, ext. 2610.

You may want to consider a Streamline Refinance if current mortgage rates are lower than what you pay now. Your payment may be considerably lower, you'll pay less interest, and you'll pay more off your principal each month. Another option is to consider choosing a shorter term. Your payment may or may not decrease, but you could possibly reduce years of payments -- saving that amount in interest payments would most likely be significant, plus paying off your mortgage much sooner could be a relief. Contact our Mortgage Servicing team at 517-333-2424 x2610 to discuss what Streamline Refinance options may be available to you.

The cost of a mortgage Streamline Refinance for members occupying their home as a primary or secondary residence is $1,250 for loan amounts up to $250,000, $1,500 for loan amounts $250,001-$500,000, and $2,000 for conventional loans over $500,000. If you have a Jumbo Mortgage or a Non-Owner Occupied mortgage the fees may be higher. The fee specific to your Streamline Refinance offer will be shown with the offer prior to acceptance.

With a Streamline Refinance, your mortgage term will stay the same as it is currently, or you can opt for a shorter term. For example, you have a 30-year mortgage and have paid for 7 years. You could continue with the original 30-year term, with a lower rate for the next 23 years. Or, you can choose to decrease your term to a 10-, 15-, or 20-year mortgage, possibly at the lower rate.

The Streamline Refinance maintains the principal balance of your loan and cannot be used to borrow from the equity in your home. Members can apply for a cash-out mortgage refinance to refinance their current mortgage and borrow additional funds from the equity in the home. Additionally, a Smartline Home Equity Line of Credit can be used to borrow from the equity in your home without refinancing your current mortgage. For some members, it may make sense to consider both a Streamline Refinance to lower the mortgage interest rate and a Smartline Home Equity Line of Credit to borrow from the equity in the home.

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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. Construction home loans are available in Michigan and Illinois. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, your rate may be higher.

APR is annual percentage rate, and is subject to change. Your rate will depend on your credit score and the term. The loans subject to credit approval.

MSUFCU Streamline Refinance

Low-Cost Mortgage Streamline Refinance

Lower Your Mortgage Rate Quickly

Option to Shorten Your Loan Term

Frequently Asked Questions

Where do I find my Streamline Refinance access code?

Should I consider a Streamline Refinance for my mortgage?

How much does a Streamline Refinance cost?

Can I extend the term of my mortgage with a Streamline Refinance?

Can I borrow from the equity in my home with a Streamline Refinance?