Mortgage Refinance

See the Many Benefits of a Mortgage Refinance

Change Your Mortgage Type

Avoid uncertainty and switch from an adjustable-rate mortgage to a fixed-rate loan.


Extend or Shorten Your Term

Get a longer term for lower payments or a shorter term to be mortgage-free faster.


See What Rate You Can Get

If your credit score has improved or market rates have dropped, you may qualify for a lower APR.


What You Need to Know About a Mortgage Refinance

A mortgage refinance means you take out a whole new mortgage to replace your original home loan. Here's why it might be worth the extra paperwork: happy family with mortgage refinance

  • You can change your mortgage type based on better information or market activity.
  • You can choose a new term of 10, 15, 20, or 30 years to get the right payment for your budget.
  • You may qualify for a lower interest rate if your finances have significantly improved.

  • You may have an out-of-state mortgage servicer that isn't meeting your needs.

  • We offer local loan servicing, so you'll always know who you're dealing with.

  • We'll maintain your escrow account for taxes and insurance and be sure to pay on time.



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"Filling out the application was so quick and easy and they responded within  2 hours with my approval and the information I needed in order to finalize my application."

– Susan F., Baltimore, MD

Enjoy These Features of a JHFCU Mortgage Refinance

Competitive Rates

Find out if our home loan rates can beat your current lender.

Easier Payments

Simply open a JHFCU Checking or Savings account, then transfer funds to your mortgage account.

Affordable Payments

Use our mortgage calculator to find your ideal payment.

Learn More About Applying for a Mortgage Refinance

Mortgage Refinance FAQs

  • How does the refinancing process work?

    To refinance your mortgage, you follow many of the same steps as when you got your original home loan, but there are a few important differences. Here’s what you need to know:

    1. You can refinance your mortgage with your existing lender or a new lender. 

    2. Once you apply, you’ll need to pay for a credit report and home appraisal to determine your eligibility.

    3. You'll need to pay closing costs just like for your original mortgage, which you can choose to include in your loan amount.

    4. A refinance may or may not let you access cash based on your home equity.

    5. Once you've done all your research and are sure a refinance is right for you, you can agree to the new loan terms.

    6. Your existing mortgage will be paid in full and you'll start making payments on your new mortgage.

  • What are the advantages of a mortgage refinance?

    Explore the benefits of mortgage refinancing for a personalized and advantageous approach to homeownership. Whether you seek a more local and attentive lender, desire a shift from adjustable to fixed-rate mortgages, qualify for a lower interest rate, aim to reduce your loan term for interest savings, or extend it to ease monthly payments, refinancing offers a range of options tailored to your financial goals.

  • Will I get a better rate than my existing rate?

    It may be possible to get a lower interest rate when you do a mortgage refinance, but this would depend on a number of factors such as if your financial situation improved, if market rates have dropped since you took out your original loan, or if you shorten your loan term.

  • How can I pay my JHFCU mortgage each month?

    There are many options for making a payment when you refinance your mortgage with JHFCU:

    Online Transfer: Set up a recurring transfer or make a one-time transfer online from your checking, savings, or another transactional account to your mortgage account. Payments are credited and account balances are updated immediately. 

    JHFCU TeleBranch 24: Transfer your payment from a JHFCU account to your mortgage; just use your loan suffix number between 70 & 77 (EX: XXXXXXXXX-XX.)

    Pay Online from an Outside Bank: Set up JHFCU as a payee using your 9-digit JHFCU Account number - 2-digit loan suffix number between 70 & 77 (EX: XXXXXXXXX-XX.) 

    Pay by Check at a Branch or via Mail

    Pay by Transfer In-Person

    NOTE: When setting up Online Bill Payment from JHFCU and/or outside accounts, use JHFCU’s main address, 2027 E Monument St, Baltimore, MD 21205
  • Do I need to be a member of Johns Hopkins Federal Credit Union to do a mortgage refinance?

    Yes, you'll need to become a member first. Joining is quick and easy, learn more here!

    Then you'll be set to use your loan funds while enjoying all the benefits of credit union membership, like great rates and friendly, local service.

Learn More About Mortgages


House & Home Resource Center

Home Loan and Equity Options for You

Fixed-Rate Mortgage


Enjoy the peace of mind that comes with knowing your rate and monthly payment will stay the same through the life of your loan. Plus, choose your term!

Learn More

HomeFree Home Loan


If you have significant equity in your home, you could enjoy the benefits of a refi without the closing costs. Potential to lower your rate or change your term.

Learn More

Home Equity Loans and Lines of Credit

Leverage the equity in your home to pay for renovations, weddings, college, debt consolidation, and more.

Learn More
*APR = Annual Percentage Rate. Rates are determined by an evaluation of the applicant’s credit, loan term and loan-to-value (LTV). Minimum down payment of 3% required. Payments do not include amounts for taxes, insurance premiums or private mortgage insurance (PMI), if applicable, actual payment obligation will be greater. Property and flood insurance may be required. Other restrictions may apply.