Navy Federal pays up to $2,500 in closing costs for members and will match any loan approval at a lower interest rate. Toler says some credit unions offer a $500 rebate at settlement or even pay all closing costs for members."We offer the 'Harmony Loan' to members of credit unions we work with, which allows borrowers to reset their interest rate as often as every 120 days if mortgage rates decline," says Toler. "Instead of refinancing, borrowers can check rates online and reduce their interest rate with the click of a button. There's no loan approval or appraisal process and no closing costs."