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Rate Reset

Introducing Rate Reset Mortgages from LGE

Initiate mortgage interest rate changes with the click of a button.

Rate Reset Mortgages allow you to lower your fixed rate without refinancing your mortgage, which means no new closing costs or points. There's also no new appraisal, underwriting, credit check, or additional paperwork needed to lower your fixed rate!
After you lower your rate, your remaining loan term stays the same - there's no new loan, just a lower rate in a few easy steps. 


  • You must wait 12 months after closing your mortgage before the first opportunity to lower your rate
  • After the initial 12 months, you can lower your rate as often as every year
  • To lower your rate, the new rate must reduce your current rate by at least 0.25%
  • Your loan must be current (with no late payments in the past 12 months)
  • A flat rate modification fee will apply


Future-proof your mortgage with Rate Reset Mortgage Loans from LGE!

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Exercising the rate reset option will permanently reduce your interest rate, as well as, the remaining principal and interest payments on your loan but will not modify any terms contained in your loan documents, including the principal balance, maturity date, and additional amounts due for escrows as part of your monthly Periodic Payment under your Security Instrument.

LGE Community Credit Union reserves the right to modify or cease mortgage programs at any time. APR= Annual Percentage Rate.

 To exercise this rate reset you must meet all of the following criteria.

•  You must be an existing member or eligible to become a member through our Field of Membership.

•   The Rate Reset service is available for new mortgages originating on or after 3/22/24.

•  Your loan must be current with no missed or delinquent payments in prior 12-months, which includes principal, interest, taxes, and insurance.

•  The reduced interest rate must be at least 0.250% lower than your existing rate.

•  Rate resets are eligible on qualifying loans every 12 months with no more than 5 rate resets applied during life of the loan.

•  You must pay $749.00 loan modification fee each time you exercise the rate reset option.

Other mortgage programs and products may be available to you. Please contact us to speak with a Mortgage Loan Originator to discuss your available options.