You may be eligible to refinance even if you are underwater on your mortgage. Click here to learn about the HARP program.

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Loan Options

Fixed Rate
Exclusive 10-Year Balloon
Reverse Mortgages

Fixed Rate Loans

A fixed rate mortgage provides the convenience of a monthly payment that doesn’t change. The fixed rate mortgage is the most popular loan option available today. We offer fixed rate loans for 30-, 20-, 15-, and 10-year terms. Like all the loan programs we offer, there is no prepayment penalty with our fixed rate loans; you can make extra payments monthly or pay off the loan early without penalties or fees.

30-Year Fixed.

A 30-year fixed rate loan offers the lowest monthly payment of all the fixed rate loans we offer.

20-Year Fixed.

A 20-Year fixed rate mortgage offers a monthly payment slightly higher than a traditional 30 year mortgage in exchange for a shorter loan term.

15-Year Fixed.

A 15-Year fixed rate mortgage often appeals to people who are planning for retirement because their home will be paid off when they stop working full time. Monthly payments on a 15-year loan are approximately 25% higher than payments on a 30-year loan, even though the interest rates on 15-year loans are typically a quarter of one percent lower. That’s because more principal is being repaid with every payment.

10-Year Fixed.

Often people who are planning for retirement choose the 10 year fixed rate loan so their home will be paid off when they stop working full time. Monthly payments on a 10 year loan are approximately 45% higher than payments on a 30-year loan, even though the interest rates on 10 year loans are typically a quarter of one percent lower. That’s because more principal is being repaid with every payment.

Member Exclusive 10 Year Balloon

Our Credit Union Member exclusive 10 year balloon with 30 Year Amortization allows you to take advantage of a great fixed loan rate, with the low payment of a 30 year loan. Balloon loans offer lower interest rates for shorter term financing. The payment is based on 30 years. However, at the end of this term, they require refinancing or paying off the outstanding balance with a lump-sum payment. The advantage they offer is an interest rate that is lower than a fully amortizing fixed-rate mortgage. Like all the loan programs we offer, there is no prepayment penalty; you can make extra payments monthly or pay off the loan early without penalties or fees.

Reverse Mortgages

Reverse mortgages can be a great way for qualified homeowners who are 62 years of age or older to access the equity in their homes. A reverse mortgage can be used to improve your lifestyle by supplementing your monthly income, covering healthcare costs, paying off existing mortgages, fixing up your home, or simply gaining peace of mind. Whatever your specific goals, a reverse mortgage can go a long way towards helping you maintain your financial independence. Click here to learn more.