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Mortgage Rate Modification
Lower your mortgage rate without refinancing
Refinancing can be stressful, costly, and time-consuming. Why add thousands of dollars in closing costs to your loan when, for a small modification fee, we can simply lower your rate to the current, lower published rate? This will reduce your monthly payments for the remaining term of your loan, saving you thousands of dollars in interest. No application, financial documents, or appraisal needed—just quick, simple savings with no hassles or hidden costs. Take advantage today with our easy Mortgage Rate Modification process.
Our Mortgage Rate Modification:
Helps you save on monthly payments with a lower rate on your monthly mortgage payment, leaving more money in your pocket for you.
Lets you forget about applications, appraisals, or financial documents — simply complete the online form below and we’ll take care of everything quickly and efficiently.
Want to know more about our Mortgage Rate Modification process?
The Modification Fees is based on the size of your loan. Loan amounts less than $1 million will incur a charge for $549 and loan amounts $1 million and greater, the modification fee is $849. This process is available for all First Trust Deed mortgages owned by Monterra Credit Union. Cash-out loans originated within the past six (6) months are eligible, for an additional $250 charge. Loan types that are excluded from using the Mortgage Rate Modification process include Home Equity, loans owned by Fannie Mae, loans in forbearance or in deferment or any loan that has a late payment within the last 12 months.
Act Fast for Best Rates!
Complete the Mortgage Rate Modification Request Form below and lock in today’s rates. If rates decrease while your request is processing, you’ll have the opportunity to lock in the lower rate for a small fee of $150.