Information and Alerts

Refinancing Your Home

Update your mortgage payments

Out with the old — in with the new

When you refinance, you’re essentially trading your current home loan for a better one. This could be helpful if you’ve raised your credit score or if you want to switch a variable rate for a fixed rate. It may be hard to know if refinancing is the right option for you. That’s why Deseret First is here to help! Our goal isn’t to sell you something you don’t need. In fact, we want to empower you with knowledge and options.
Start Refinance

Mortgage Rates

Advantages to Refinancing

Lower Your Monthly Payment
Lower your monthly payment
Shorten Loan Term
Shorten your term length
No Private Mortgage Insurance
Cut out mortgage insurance
No Cost Options
No-cost options available

Home Refinance Options

You will need to clarify to yourself what your goal is for refinancing. Do you want to lower your monthly payment or interest rate? Or shorten your loan term? Once you know what you’re after, it will be easier to decide which type of refinance you’ll need.
exterior of a southern victorian home

Rate / Term Refinance

  • lower payment and/or term
  • drop mortgage insurance payments
  • limited cash back available
remodeled kitchen with island and barstools

Cash Out Refinance

  • consolidate your debt
  • use for home improvement
  • down payment for another property
mother, father, and daughter inside a blanket fort reading a book together

VA/FHA Streamlines

Do you currently have a VA or FHA-insured loan? We offer specialized options for these loans. Specifically, we can work together to help lower your monthly payment or terms.

You may qualify for the streamlined process if you:

  • currently have an FHA or VA loan
  • are up to date on your mortgage payments
Apply online today! For questions or to apply with a representative, call 801-456-7070 or 800-326-3328 ext.7070. Available weekdays: 8:30am–5:30pm.
Start Application

Additionally, you may visit any Deseret First Branch. Membership and eligibility required. Terms and conditions apply.

What will I need to refinance?

As loan officers at DFCU, it is our goal to make the steps of refinancing as smooth and simple as possible. That’s why we’ll guide you through each step along the way. At the same time, making sure you feel confident and satisfied in your decision.
Number 1
Take an application.
Number 2
Work with a loan officer to decide which option is best for you. Consider, do you want to lower your monthly payment or mortgage terms? Or do you want to cash out?
Number 3
Provide documentation (signed disclosures, income, assets, etc).
Number 4
Property valuation completed (usually an appraisal).
Number 5
Sign your closing documents.
Number 6
Your new loan funds!*

*If you refinance your primary residence, there is a mandatory 3-day wait time. Known as the rescission period, this occurs from when the closing documents are signed to when the loan funds.

Take control of your future faster!

Refinance today by lowering your payment or interest rate.