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Interested in refinancing your Spectrum Credit Union mortgage? Now's the time.

Whether you are interested in a traditional refinance, a cash-out refinance, or our special Rate Refresh loan modification program, you can rest assured that you are getting the best deal.

Mortgage refinancing is a great option if you’re looking to lower your interest rate or change the terms of your current loan.

Our mortgage team members are here to help you determine if a mortgage refinance is right for you, and which type would work best for your situation: a traditional refinance, a cash-out refinance, or a Rate Refresh loan modification. With competitive rates and flexible terms, Spectrum Credit Union offers some of the best financing options available.


Benefits of refinancing your mortgage:

  • Save money by lowering your current interest rate
  • Pay off your loan faster by changing the terms — for example, changing a 30-year fixed-rate loan to a 15-year fixed-rate loan1
  • Adjust the terms to fit your current needs — for example, going from a fixed-rate mortgage to an adjustable-rate mortgage
  • Utilize your home equity and take out cash for other needs
  • Refinance your existing Spectrum Credit Union mortgage or your mortgage from another lender

What our members are saying


Maria R.


“Service was excellent, especially from Michael S. My loan process went smooth and the rates I received — I couldn’t be happier. Thank you, Spectrum Credit Union!”

Options for refinancing

Traditional refinance
This straightforward refinancing option allows you to exchange your current mortgage for a mortgage with different rates and/or terms. For example, you can apply for a mortgage with a lower interest rate in order to lower your monthly payment, or you can trade in a 30-year fixed mortgage for a 15-year fixed mortgage in order to pay off your mortgage faster.1
Cash-out refinance2
This option allows you to take out a mortgage of a larger amount in order to convert home equity into cash. You can cash out up to 80% of the equity in your house.2 The dollar amount you cash out is then rolled into your existing mortgage balance. You can also change the term of your mortgage during this process.
Rate Refresh loan modification3
If you already finance your home through Spectrum Credit Union, you may qualify for Rate Refresh. Our enhanced loan modification program is an easy and affordable way to take advantage of today’s low rates. Learn more about the Rate Refresh loan modification.

More information

Our Mortgage Loan Officers are here to help you every step of the way. Please call our Home Loan Help Desk at 888-750-4124. For those outside the U.S., call 510-251-6010. 

To check your pending application status, simply log in to your existing application.

For mortgage payoffs, please click here

Please Note: Credit bureaus are allowed to make your contact information and credit score available to other mortgage providers. If you wish to opt-out of receiving pre-screened offers, call 888-5-OPTOUT (888-567-8688) or visit

Review our Privacy Notice for when we may share your information.

1 Once processed, your mortgage balance usually stays the same. Sometimes you may be able to roll your closing costs into your balance so you don’t have to pay them up front, and that could increase your balance. Payment Example:At a 6.125% interest rate (6.385% APR), a 15-year conventional mortgage would have monthly payments of $4,661.43. These payments are based on a $548,000 loan on a $685,000 property in Alameda County, CA. If an escrow account is required or requested, your actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums. The values shown assume the loan is for the purchase of a single-family residence that will be used as a primary residence and that the applicant has a credit score of 740 or higher.

2The Maximum LTV (loan-to-value ratio) for a cash-out first mortgage is 80% on a single unit principal residence and 75% on a 2–4 unit principal residence. For a second home/vacation property, the maximum LTV is 75%. For an investment property, the maximum LTV is 75% on a single unit property and 70% on a 2–4 unit property. Cash-out loans are not available for properties purchased in the prior six months unless the property was purchased with cash. If the property was listed for sale in the prior six months, the maximum LTV is limited to the lower of 70% or the maximum allowed per the above.
3 Rate Refresh program applies to existing Spectrum Credit Union mortgages only. The Rate Refresh fee is $750. The current Rate Refresh rate is available on our Rates webpage or by calling 888-750-4124. Exclusions include Credit Union mortgages that have not made 12 on-time payments, Credit Union mortgages that have been modified within the 12 months preceding today's date, and Credit Union mortgages that are in the process of being modified as of today's date. Mortgage modifications are limited to once every 12 months. Program terms and conditions are subject to change at any time.

Spectrum Credit Union reserves the right to deny any request for a loan modification.

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