One Credit Union Mortgage Rates and Home Loan Options

One credit union mortgage rates can be incredibly competitive, with rates as low as 3.5% APR for a 30-year fixed-rate mortgage. This can save homeowners thousands of dollars in interest over the life of the loan.

With a credit union, you're not just getting a great rate - you're also getting personalized service and a more streamlined loan process. Credit unions are member-owned, which means they're not driven by profit like big banks.

Credit unions often offer a range of home loan options, including conventional loans, FHA loans, and VA loans. This can make it easier to find a loan that fits your needs and budget.

Interest rates on Navy Federal Conventional Fixed-Rate Mortgages are among the lowest available.

You can get a stable monthly mortgage payment for the long term with a Conventional Fixed-Rate Mortgage.

Our rates are competitive, with options starting at 5.750% for a 15-year loan.

For a 30-year loan, you can get a rate as low as 6.375%.

Discount points can be purchased to lower a loan's interest rate and monthly payment, with one point amounting to 1% of the loan amount.

Jumbo loans, which are loans over a certain amount, have slightly higher rates, starting at 6.000% for a 15-year jumbo loan.

The rates displayed are the "as low as" rates for purchase loans and refinances.

Here are some key rates to keep in mind:

Some loans require up to a 20% down payment, but Navy Federal offers options with as little as 5% down.

You can also take advantage of our easy no-refi rate drop, which allows you to lower your rate without refinancing for a one-time $250 fee.

When buying a home, it's essential to consider the loan features that can save you money and time in the long run. Some loans require a 20% down payment, but our loans offer a more affordable option with a 5% down payment.

Our Jumbo Fixed-Rate loans come with a no-refi rate drop feature, which means you can buy your home now and lower your rate later if rates drop without having to refinance. This can be a huge advantage for homeowners who want to take advantage of lower interest rates.

Most lenders require borrowers to purchase Private Mortgage Insurance (PMI) if they can't make a 20% down payment. Fortunately, we don't require PMI, which can save you hundreds or even thousands of dollars in premiums.

If you already have a mortgage and want to refinance for a better interest rate or shorter term, our loan may be a good fit for you. It's a great option to consider if you're looking to save money on your monthly payments.

APR is a crucial factor to consider when evaluating mortgage rates. The APR, or Annual Percentage Rate, is the rate at which interest is charged on your loan.

To get a conforming loan, you'll need to contact a UNIFY Mortgage Lending Specialist at 877.254.9328 x6213 for more information.

The rate on a HELOC, or Home Equity Line of Credit, is variable and based on the Prime Rate, which was 7.50% as of 12/31/2024. The margin will range from 0.74%-5.50% based on your creditworthiness.

Annual Percentage Rate (APR) is used to calculate the interest on your mortgage, and it's not the same as your interest rate. APR takes into account fees and other charges.

Conforming loan amount limits vary, and if you need to know the specifics, you'll need to contact a UNIFY Mortgage Lending Specialist at 877.254.9328 x6213.

All payments shown are per $1,000 financed and don't include taxes and insurance. The rates you see may change annually after an introductory period.

For HELOCs, the Index is the Prime Rate as published in The Wall Street Journal on the last business day of each month, and as of 12/31/2024, that index was 7.50%. The margin will range from 0.74%-5.50% based on your creditworthiness.

The resulting APR (currently 8.24%-13.00) will never exceed 18.00%. HELOCs have an interest-only 15-year draw period followed by a fully-amortizing 15-year repayment period.

You'll pay certain fees, such as closing costs, which typically range from $1,100 to $2,500 depending on the location of your property.

The 5 C's of Credit are a crucial aspect of understanding credit and its role in applying for a loan. They are Character, Capacity, Capital, Collateral, and Conditions.

Character refers to your credit history and habits, which lenders use to assess your likelihood of repaying a loan. Your credit history is a record of how you've handled credit in the past.

Capacity refers to your ability to repay the loan, which is determined by your income and other debt obligations. Lenders want to know if you can afford the loan payments.

Capital refers to your liquid assets, such as savings and investments, which can be used to repay the loan. This helps lenders understand if you have a financial safety net.

Collateral is an asset that can be used to secure the loan, such as a house or car. If you default on the loan, the lender can seize the collateral to recoup their losses.

Conditions refer to the loan terms and conditions, such as the interest rate and repayment period. Lenders use these factors to determine the risk of lending to you.

VA loans are a great option for those who served our country, as they offer benefits that can make homeownership more accessible.

You don't need a 20% down payment to purchase a house, as there are various programs and alternatives that can help. Our Local Home Loan Experts discuss these options in detail.

VA loans, in particular, often require little to no down payment, making them an attractive choice for eligible veterans.

Some homebuyers may be surprised to learn that it's possible to purchase a house with as little as 0% down payment, thanks to VA loans.

For those who don't qualify for VA loans, there are other programs that can help with down payment requirements, such as FHA loans and down payment assistance programs.

VA loans are a great option for those who served our country, as they offer benefits that can make homeownership more accessible.

These programs and alternatives can help make homeownership a reality for many people who might have thought it was out of reach.

If you're looking for a mortgage that fits your needs, consider our specialized loan options. We offer loans with lower down payment requirements, making it easier to buy a home sooner.

For example, some of our loans require as little as 5% down payment. This can be a game-changer for first-time homebuyers or those who want to get into the housing market quickly.

With our easy no-refi rate drop, you can enjoy rate-drop assurance on our Jumbo Fixed-Rate loans. This means you can buy your home now and potentially lower your rate later without refinancing, for a one-time fee of $250.

One of the benefits of our loan options is that we don't require borrowers to purchase Private Mortgage Insurance (PMI), as long as they can make a down payment of 20%. This can save you money on your monthly mortgage payments.

If you already have a mortgage and want to refinance for a different interest rate or shorter term, our loan options may also be a good fit.