RefiNow™ with Ideal Credit Union

Ideal Credit Union has partnered with Fannie Mae® to offer RefiNow™, a new refinance option created to help more homeowners take advantage of today's historically low-interest rates. Those who qualify must receive a benefit (see below) to be eligible:

  • A 0.5% rate decrease
  • Monthly payment reduction of $50 or more

According to the Federal Housing Finance Agency, eligible homeowners could see monthly savings between $100 and $250 totaling between $1,200 and $3,000 per year.*

Qualifying For RefiNow™

Review the RefiNow™ qualifications below to see if you’re eligible for this refinance option. You can also schedule an appointment or call 651-747-4663 to speak with an Ideal CU Mortgage Loan Advisor. We are more than happy to review your eligibility and refinance options.

  • Your existing loan must be guaranteed by Fannie Mae
    Not sure about this? Use Fannie Mae’s loan lookup tool to find out
  • Your income must be at or below 80% of your area’s median income
  • Your Debt to Income (DTI) must be 65% or less
  • Your credit score must be 620 or higher
  • No delinquency in the past 6 months; no more than one 30-day late payment in the last year
  • You must have had your existing mortgage for at least 1 year; no more than 10 years
  • You must be refinancing a one-unit primary residence

Get started

Our goal is to help more homeowners access the benefits of refinancing. If you think the RefiNow™ program may be right for you, schedule an appointment to meet with an Ideal CU Mortgage Loan Advisor or call us at 651-747-4663. You can also apply online.


All loans subject to credit approval and eligibility requirements. RefiNow™ is a home financing program offered through FNMA. Not available for cash out refinance.