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August 8, 2019
Three Good Reasons for Refinancing Your Home Loan
When rates are as low as they are right now, it’s just smart for homeowners to look into refinancing. Basically, refinancing means paying off your current mortgage and taking out a new one. But you don’t have to take out the same type of mortgage you had before. Refinancing gives you lots of options.
1. Lower Your Monthly Payment.
Here, you keep the same term on your mortgage and refinance for a lower rate. Even just cutting half a percentage point off your current interest rate can significantly lower your monthly payment. Plus, you’ll save thousands in interest payments over the life of your loan.
2. Pay Off Your Home Faster.
Want to retire the mortgage early? Refinancing for a shorter term can get you there faster. While your monthly payments will likely increase, your shorter-term mortgage loans generally have the lowest rates, saving you big money on your way to living debt free.
3. Cash Out Equity.
As home values have been rising, many owners now find themselves sitting on a nice cushion of equity. That’s cash you can use for home improvements or to take care of a major expense, such as paying for college.
Let’s Refi! Call 800.839.6328, ext. 2694.
Discuss your options with one of our local, professional Grow Real Estate Loan Officers, who’ll begin the application process and walk you through all the steps. You can also enter your information here if you’d like someone to reach out to you. Start today. There’s no reason why you shouldn’t refi.
Talk to one of our Real Estate Loan Officers to see if you could qualify for a lower interest rate. Subject to credit approval.
Grow Financial mortgage loans are valid for the purchase or refinance of owner-occupied residential properties in the states of Florida and South Carolina, including single-family detached, condominiums and townhomes. Not valid for the purchase of investment properties. Grow Financial mortgage loan rates are updated daily and available at growfinancial.org.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466
Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733
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