Credit Union Mortgage Loans: Home Lending

Mortgage programs

Fixed Rate

As low as 6.427% APR¹
Your rate and payments are fixed for the life of the mortgage
Terms of 15, 20, 30, or 40 years
Good option if you plan on staying in your home for longer than 10 years and prefer your payments stay the same

Adjustable Rate⁴

As low as 5.679% APR^1,4
Fixed rates and payments to start that are subject to change after a few years
A variety of terms are available
Good option if you plan on moving in less than 10 years and prefer a lower payment at the beginning of your mortgage

First Time Home Buyer

As low as 6.822% APR¹
Your rate and payments are fixed for the life of the mortgage
A 30 year fixed rate term
Great option if you are looking to purchase your first home

Refinance

Available in fixed or adjustable rate terms: Good option if you want to lower your mortgage payment or shorten your payoff time
Cash-out refinancing available: Great option if you need cash to pay off non-mortgage debt or make home improvements

Current Mortgage Rates

Type	Rate	APR¹	EMP² (per $1,000)
Adjustable Rate Mortgages⁴
5&1 Fixed Variable⁴	5.375%	5.705%	$5.60
7&1 Fixed Variable⁴	5.875%	5.978%	$5.92
7&3 Fixed Variable⁴	6.000%	6.166%	$6.00
10&5 Fixed Variable⁴	6.125%	6.316%	$6.08

Convertible 1 Yr Adjustable⁴	5.125%	5.679%	$5.44
1 Year Adjustable⁴	5.125%	5.679%	$5.44
3 Year Adjustable⁴	5.750%	5.852%	$5.84
7&1 Variable 40 Year⁴	6.375%	6.467%	$5.77
Land Loan^3,4	5.125%	5.743%	$10.67

Fixed Rate Mortgages
15 Year	6.250%	6.427%	$8.57
20 Year	6.500%	6.644%	$7.46
30 Year	6.875%	6.988%	$6.57
40 Year	7.125%	7.226%	$6.31
First Time Homebuyers	6.750%	6.822%	$6.49

1:APR = Annual Percentage Rate. All mortgage APRs are for 1-4 unit owner occupied primary residences based on 20% down payment. APRs may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Prime Mortgage Insurance (PMI). Rates subject to change without prior notice. Zero points on all mortgages. Guidelines available upon request.
2:EMP = Estimated Monthly Payment.
3:Land loans 1-10 years, 25% downpayment
4:ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 1, 3 or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5 & 1 Fixed Variable program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5& 1), after that the interest rate and payment could change every 1 year for the remainder of the mortgage’s term (the 1 in the 5 & 1).

What to expect after you apply

1

We’ll put it together

Your Mortgage Loan Officer will help you gather the necessary documentation and take care of disclosures.

2

Underwriting

Our underwriters will pull your credit and make calculations to determine if you are approved for the mortgage. They will also determine your interest rate based on those calculations.

3

Processing and appraisal

After approval, our team will process your loan and order your appraisal. When your appraisal is returned, the processors can complete their verifications and put together your Closing Disclosure.

4

Closing

Our in-house closing agent, WebFirst Mortgage, LLC, will walk you through your final paperwork. Congratulations, you're a home owner! It’s time to celebrate.

How can we help?

Our dedicated loan center team is happy to answer your mortgage-related questions or provide assistance with completing an online mortgage application.

(774) 823-1665

Monday – Wednesday: 8:00 a.m. – 4:30 p.m.
Thursday & Friday: 8:00 a.m. – 5:00 p.m.
Saturday & Sunday: Closed

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