This is how we make home-buying more affordable
At Credit Union ONE, we offer many mortgage types, including fixed-rate and adjustable-rate loans with terms up to 30 years. Each one features low interest rates that save you money on your monthly payments and reduce interest charges over the long haul.
Run the numbers on a mortgage loan.
Frequently asked questions
The way you've handled your finances in the past can help predict how you may do so in the future, so lenders will consider your credit rating when you apply for a mortgage or other loan. A higher credit score may help you qualify for a better mortgage interest rate, and some lenders may lower their down payment requirement for a new home loan if you have a high credit score.
Credit Union One works with their partner Member First Mortgage for loan servicing. *Credit Union One does have the right to sell servicing of our loans.
For those who qualify, VA loans allow for 0% down payment, lower interest rates, limited closing costs and no private mortgage insurance(PMI). You can also use the guaranty multiple times. To learn more about VA loans click here.
A Max Refi loan is a closed-end/term loan with a fixed rate. This is for borrowers who own their home free and clear or plan to pay off their current mortgage with the loan proceeds. This allows you to borrow against your home without paying closing cost as you would for a refinance. Read more in our Home Equity section.
A Home Equity Loan is a closed-end/term loan for a borrower who plans to keep their primary mortgage. Max Refi is for borrowers who own their home free and clear or plan to pay off their mortgage with the proceeds from the equity loan. A Home Equity Loan allows you to have two liens against your home while a Max Refi only allows you to have one. Read more in our Home Equity section.
FHA and conventional loans are two types of mortgage loans that differ in their requirements and costs. FHA loans are insured by the federal government and offer lower down payments, lower credit scores, and more flexible income and credit guidelines. FHA loans require mortgage insurance for the life of the loan regardless of loan to value. Conventional loans are not insured by the government and typically have higher down payments, higher credit scores, and lower mortgage insurance rates. Conventional loans can also end mortgage insurance once the loan-to-value ratio reaches 78%. Learn more from our Home Mortgages page.
Take the next step toward homeownership.
The calculator tools are not guarantees of credit. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes.