Can I extend the term of my mortgage with a mortgage rate modification?
No, though you can opt for a shorter term. For example, you have a 30-year mortgage and have paid for 7 years. You could continue with the original 30-year term, with a lower rate for the next 23 years. Or, you can choose to decrease your term to a 10-, 15-, or 20-year mortgage at the lower rate.
If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-766-6828 for assistance. All products and services available on this website are available at all OU Credit Union full-service locations.
Oakland University Credit Union
savings are Federally insured to at least $250,000 by the
and backed by the full faith and credit of the United States Government.
APR = Annual Percentage Rate. APY = Annual Percentage Yield.
read our disclaimer regarding links to other sites.