Switch Your Mortgage to Blaze
Refinancing your home loan with Blaze gives you the opportunity to lower your monthly payment, shorted your loan term, or get cash out for big expenses — whatever fits your financial goals.
Why Refinance with Blaze
$1,500 Maximum Closing Costs
When you refinance your home loan with Blaze, you can choose to only pay up to $1,500+ in closing costs.
Your Loan Stays Local
Our Minnesota-based Blaze loan officers, decision-makers, and servicers make buying and owning a home local and personal.
You'll always know who to contact when you need guidance on the next step of your journey.
Flexible Refinance Options
Blaze offers up to 15-year fixed-rate or any of our ARM loan programs to refinance. You can finance up to 80% of your home's value.
Getting Started with a Blaze Mortgage Refinance Loan
A mortgage refinance replaces your current home loan with a new one — often with a lower interest rate, different term, or new loan amount. Many people refinance to reduce their monthly payment, pay off their mortgage faster, consolidate higher-rate debt into one monthly payment, or access cash out from their home equity.
Mortgage Refinance Rates
Mortgage Refinance RatesRates Effective: 11/24/2025
| Program Name | Rate | APR* | Monthly Payment |
|---|---|---|---|
| 10/1 ARM Refi - Max $1,500⁺ Closing Costs | 5.750% | 5.957% | $1044.38 |
| 7/1 ARM Refi - Max $1,500⁺ Closing Costs | 5.500% | 5.882% | $1035.97 |
| 5/1 ARM Refi - Max $1,500⁺ Closing Costs | 5.250% | 5.870% | $1034.63 |
| 15 Year Fixed Refi - Max $1,500⁺ Closing Costs | 5.500% | 5.532% | $1432.87 |
| 10/1 ARM Jumbo Refi | 5.875% | 5.889% | $4777.97 |
| 15 Year Fixed Jumbo Refi | 5.625% | 5.651% | $6654.58 |
| 15 Year Fixed Refi | 5.500% | 5.708% | $1449.28 |
| 20 Year Fixed Refi | 5.875% | 6.043% | $1258.1 |
| 30 Year Fixed Refi | 6.125% | 6.254% | $1077.96 |
| 30 Year Fixed Refi Jumbo | 6.250% | 6.292% | $4987.81 |
*APR = Annual Percentage Rate. Monthly payment examples assumes an 75% Loan-to-Value, 780 credit score, and purchase or no cash out refinance. Monthly Principal & interest payment based on loan amount of $175,000 and $806,500 for jumbo loans. Payment estimates do not include taxes and insurance; actual payments may be higher. Maximum loan amount is $1,500,000. Minimum loan amount is $30,000. Property insurance is required. If the loan does not close, the cost of the appraisal will not be refunded. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, occupancy, and other factors so your rate may different.
Adjustable Rate Mortgage (ARM) loans have a variable rate therefore the APR may increase after consummation. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.
+Property must be the primary or secondary residence and property insurance is required. Commercial, agriculture, and large acreage properties excluded from offer. Blaze member responsible to pay up to $1,500 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. Blaze will pay closing costs in excess of $1,500 and does not include property taxes, home owner’s insurance, prepaid interest, and fee for a potential subordination agreement. A minimum of $10,000 must be new money at Blaze. Offer subject to termination at any time.
Escrow accounts hold funds for property taxes and insurance payments. Every year Blaze is required to analyze your escrow account to determine if we are collecting an adequate amount to pay your property tax bills and insurance premiums for the year. The purpose of the Escrow Account Disclosure Statement is to provide information on amounts collected and paid for the previous year and projected payments for the current year.
Generally, shortages are caused by an increase in property tax bills and/or insurance premiums. The amount collected in escrow is based on the prior year invoices so if the amounts increase for the current year, the funds collected could be short.
You have two options if you have a shortage:
- You can pay the shortage at least two weeks prior to your scheduled payment change date listed on your escrow analysis. Please note, if you choose this option, your monthly payment will be adjusted to not collect for the shortage amount.
- You can pay the shortage amount over the next 12 months with your monthly payment. No action is required for this option.
Escrow Surplus
Any surplus over $50 will automatically be deposited into your share savings account within two weeks of the escrow analysis statement date.
Updating Automatic Payments
If you have set up your automatic payment through Digital Banking or Bill Pay, then you will need to update your payment amount. If Blaze has set up your automatic payment for you, we will update this on your behalf.
If you are having financial hardship and are past due on your loan, please contact our Collections department at 651.215.3510. One of our representatives will help you with a solution.
Blaze also recommends LSS Financial Counseling, a certified nonprofit financial counseling service that has been providing free, nonjudgmental support and guidance for more than 35 years.
We are committed to helping you get your insurance claim check funds as soon as possible. To minimize delays in receiving your funds, please ensure the required documents are submitted and signed prior to visiting the branch.
Check is made payable to you, First Mortgage Company, and then Blaze Credit Union
Submit the following to Blaze Mortgage Servicing using our secure contact form:
- Copy of the Insurance Claim Check
- Declaration of Intent to Repair—signed by at least one borrower
A mortgage servicer will review and arrange for your check to be signed in a branch.
Check is made payable to you and Blaze Credit Union
Submit the following to Blaze Mortgage Servicing using our secure contact form:
- Copy of the Insurance Claim Check
- All pages of the adjusters’ report
- Declaration of Intent to Repair—signed by at least one borrower
A Mortgage Servicer will review your documents within three business days. When the review is complete, we will contact you with the next steps. The size of your claim will determine the level of monitoring required.
The easiest and most secure way to submit your payment is through Blaze Digital Banking. Select the Transfer & Pay menu to get started.
For additional options, please visit Manage Your Blaze Loan.
Generally, property taxes and insurance premiums change yearly which would cause a change in your payment. If your property taxes and insurance increase, your payment will increase as well.
If you are requesting the payoff amount for your mortgage, please contact Blaze Mortgage. A Mortgage Servicer will provide you with the payoff amount within one business day.
If you are a title company or other third party representing a borrower, please contact Blaze Mortgage and attach the borrower's written authorization along with your request. A Mortgage Servicer will review your request and respond within one business day.
Page 1
The first page of the Escrow Analysis provides the projections for the coming year effective September to August.
This paragraph will let you know if you have a shortage or a surplus.
Your new monthly payment which includes the adjusted property tax and Insurance payments along with the shortage if it applies.
Page 2
This page compares the projected payments to the actual payments.
For this example, the main reason for the escrow shortage is because of the increased Insurance premium.
If you would like to pay your shortage listed on page 1, complete the form below no later than 2 weeks prior to the September 1st payment.
All Blaze ARM loans come with the Rate Re-Lock Guarantee which means you can re-lock your rate at any time, for an additional fixed period, at current rates. The available rate will depend on your original chosen loan program. The newly re-locked rate will be applied to the remaining term and principal balance of your existing Blaze ARM. Re-locking does not require an application, credit check or appraisal. Fee applies. To request a re-lock, please contact your Mortgage Loan Officer for details.
Blaze Credit Union will consider requests for subordination of equity loans after a thorough review. Requests will be processed upon receipt of a complete subordination package.
Required Items:
- Completed Subordination Request Form
- Copy of the member's signed authorization form
- Copy of the Underwriting and Transmittal Summary (1008)
- Copy of the signed Uniform Residential Loan Application (1003)
- Copy of the Loan Estimate or Closing Disclosure
- A complete copy of the appraisal. If not required for your loan, a copy of the Collateral Valuation (Fannie Mae/Freddie Mac) or AVM.
- A copy of the Title Commitment
- A check for $250 payable to Blaze Credit Union. Please include the Blaze Account Number and reference that the check is for a Subordination Agreement. The fee is non-refundable.
- Return Fed Ex, or UPS label and envelope
Send the required fee and all documentation to:
Blaze Credit Union
ATTN: Mortgage Servicing
2025 Larpenteur Ave W
Falcon Heights, MN 55113
Incomplete requests will not be processed until all items are received. Please allow 5-7 business days for processing from the date of receipt of complete package. If you have any questions or concerns, please call us at 651.215.3500.
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Disclosures
We offer conventional loans in all states except AK, CA, HI, NY, and TX. We offer government (FHA/VA) loans in all states except AK, AZ, HI, MA, NY, RI, VA, VI, VT, or Washington, D.C.
