20 May HomeFit Mortgage Saves Family Thousands in Magna
One of the things our clients enjoy most about working with CDCU is the support they provide to homeowners long after buying a home. As Susana Solorzano of Magna discovered, this includes helping families save money by refinancing through CDCU’s HomeFit mortgage.
In 2010, Susana was purchasing a home owned by CDCU when she learned about the many resources and services they provide to the community. After making an appointment to meet with a homeownership advisor, she applied for down payment assistance, took their home buyer education course, and purchased her new home.
Flash forward six years: Susana has become a successful homeowner, and she and her son Brayan have come to enjoy their beautiful community in Magna. During this time, her credit continued to improve and her equity in the home increased, leading ter decision to refinance her home. After reaching out to CDCU, she was quickly put in touch with Luz, one of their expert homeownership advisors.
Luz took a close look at Susana’s financial history and showed her various refinancing options among different lenders. Susana chose the HomeFit mortgage because it not only reduced Susana’s interest rate from 5% to 3.625%, but since the HomeFit mortgage doesn’t require mortgage insurance, she was able to eliminate another major monthly expense. In all, refinancing through CDCU saved her $185 a month, which adds up to $2,220 saved over the course of a year.
Reflecting on her experience refinancing through CDCU, she says, “CDCU provided excellent counseling and classes to be better informed about my choices. They helped me understand the responsibility of owning a home, and they were very patient throughout the process, allowing me to compare options and always providing guidance.” She concludes, “It’s a place and a people you can trust.”