Mortgage Payoff Loan Services in West Michigan
If you want to pay off your mortgage debts quicker than initially planned, you may benefit from getting a Mortgage Retirement Loan. At Community West Credit Union, we offer pay-off-early mortgage loans to help our members across West Michigan attain financial freedom earlier in life. Learn more about our mortgages and other financial services.
Why Get a Mortgage Retirement Loan?
People seek Mortgage Retirement Loans for numerous reasons, from consolidating debt to financing home improvement efforts. When you secure a Mortgage Retirement Loan, you can accomplish the following financial goals and more:
Pay Off Mortgage Debts Faster
Like most homeowners, you probably have a mortgage with a 15- to 30-year term. While this timeframe may have been ideal in the beginning, it may not be suitable now as your circumstances have changed. A Mortgage Retirement Loan allows you to pay off your mortgage debt sooner, preventing you from waiting the full term and spending additional money on interest. With your mortgage paid off, financial independence increases, and you can experience the joy of owning your home entirely.
Another benefit of our Mortgage Retirement Loan is that it helps you merge different debts into a single loan program. Debt consolidation may result in lower interest rates, enabling you to pay off loans quicker. Combining your debts into one package also makes it easier to manage your money in the long run.
Achieve a Lifelong Dream
Once you pay off debt through a Mortgage Retirement Loan, you will have more resources to devote to other aspirations. For example, you can use extra money to fund a dream vacation, a home remodeling project, or a boost to your retirement savings.
While some homeowners are not ready to pay off their mortgages earlier, they may wish to modify their loans to reflect their current financial situation. Refinancing your mortgage can help you adjust your current term, lower your monthly payment, or lower your interest rate. Our members can apply for 10-, 15-, 20-, or 30-year terms to refinance their mortgages and meet their financial needs.
What to Consider with Mortgage Retirement Loans
At Community West Credit Union, our Mortgage Retirement Loans come with 10-year maximum terms, low annual percentage rates, and a flat processing fee. Before acquiring this loan, you must complete an application. In some cases, an appraisal of your home may also be necessary.
If you think a Mortgage Retirement Loan is not applicable for your situation, consider some of our other products. For example, a home equity loan can help you pay for home improvements and a personal loan or line of credit might be your best option for other needs.
Apply for a Mortgage Retirement Loan Today
Homeowners looking to obtain a Mortgage Retirement Loan and be one step closer to financial freedom can turn to Community West Credit Union for personalized solutions. Our Mortgage Retirement Loans come at competitive rates and are held in-house. As a member-owned organization in West MI, we are here for you when you need it most.
Rates effective as of today.
|Mortgage Retirement Loan – 10-year term||APR (as low as)|
|Based on $100,000||4.00 % APR*|
*APR = Annual Percentage Rate. Subject to change. APR may be higher depending on your application. Appraisal may be required.
Note: Certain loans may have more requirements.