Mortgage Rate Float-Down Option

New! Now Available for Conventional First Purchase and Refinance Mortgages
  • A new way to save money
  • Assistance for rate adjustments
  • Conventional purchase or refinanced mortgages

New! Now Available for Conventional First Purchase and Refinance Mortgages

We are offering members a new way to save money when purchasing or refinancing their home loan at Andrews Federal. Our new Mortgage Rate Float-Down Option is designed to help members navigate the rising costs of homeownership and get the best option for their money when they finance their home. 

Get Your Best Rate

When you apply for a first-time home loan or to refinance your current home loan, you will be approved for a specific interest rate on your loan. If rates go down between the time of your application and your loan being processed, you can request an adjustment to the reduced interest rate. 

How do I request an adjustment? 

Watch the interest rates for your loan type - you can monitor them on our rates page. If you see a rate lower than your locked rate from the date of application, reach out to your loan officer and tell them you’d like to take advantage of the new lower rate!


  • Save money with reduced interest rates
  • Lock your interest rate with confidence, knowing you’ll have the chance to adjust if the opportunity arises
  • No charges, fees or points to use the Float-Down Option – it’s a free benefit we are offering members to support you in the homeownership process


  • You may only request one Mortgage Rate Float-Down Option per application.
  • This offer is only available for conventional first mortgages. It is not applicable for non-conventional mortgage loans, including VA and FHA, or for home equity or HELOC loans.
  • The program is ongoing, but may be discontinued at the credit union’s discretion.

Home Equity Line of Credit

You could remodel a room. Or reshape your future.

With an Andrews Federal Credit Union Home Equity Line of Credit (HELOC) or Loan, there are no strings attached. While it's the value of your home that gives you access to money at a low cost, nothing says you have to spend it on a no-frills improvement project.