Just because you’re making ends meet doesn’t mean you’re living comfortably. You could enjoy a bit more free time and less stress by refinancing your mortgage. However, you don’t have to face the long lines and strict service at a bank to do so. Instead, it pays to take your business to a credit union. Use the following guide to learn why these institutions are superior for borrowers hoping to work out a new payment schedule.

Who Should Refinance Their Mortgage? 

Those who opt to refinance their home loan are usually looking to save money. If you’ve been struggling to make monthly payments, this process could pay less each billing cycle. You could also be in the position where you’ve been meeting the set minimum, and your total amount due doesn’t ever seem to diminish. In this case, you may crave a lower interest rate. Some families also choose to refinance when their debt is mounting, and they want to consolidate multiple loans or lines of credit in order to pay it off faster.

What Are the Benefits of Doing This With a Credit Union?

Whatever reason you want to refinance for, there are many advantages to doing so with a credit union. Since you have to become a member to work with a credit union, these institutions offer a much more intimate environment and personalized service than large banks. Because their employees take the time to get to know their clients, you’ll receive thoughtful financial advice, and you’ll be treated to low rates and deals. Your representative will also be more likely to make exceptions for you when it comes to terms and requirements.

If you are considering the refinancing process and would like to work with a reputable credit union, consider North Jersey Federal Credit Union of Totowa, NJ. They have over 80 years of experience treating clients to low rates and flexible terms, and they pride themselves on total customer satisfaction. By refinancing through this trusted institution, you may be able to enjoy a lower monthly mortgage payment. In addition to home loans, they also offer business and car loans. To learn more about their offerings, visit the website, or call (973) 785-9200 to speak with a representative.