How it works:
- Interest rate stays the same over the life of the loan
- Monthly principal and interest payments remain constant
- Flexible terms: 15, 20 and 30 year terms available (view mortgage rates)
- No Annual Fees, No Pre-Payment Penalties: additional mortgage closing cost discounts are available with certain HUECU checking account
Ideal for:
- Someone who plans to live in their house for a long time
- Someone who wants the certainty of a fixed monthly payment
How it works:
- Interest rate is locked in for a set period of time, after which rates fluctuate depending upon the index and margin
- Lower mortgage payments during initial fixed term
- Flexible terms: 5, 7, 10, 15-year adjustment periods available
- No Annual Fees, No Pre-Payment Penalties: additional mortgage closing cost discounts are available with certain HUECU checking accounts
Ideal for:
- Someone who doesn’t plan on owning their home for a long period of time
- Someone who wants lower initial monthly payments than a fixed-rate loan provides
To get started and receive your personalized closing costs estimate, click here!
Please Note: First Time Home Buyers should subtract $500 from the total.
At HUECU, First-Time Home Buyers receive the following benefits:
- 0.125% rate discount1
- FREE Pre-Approval good for 90 days
- $500 credit towards closing costs2
- Additional $500 credit if you meet HUD income limits3
- Reduced Lender Attorney fee ($150 value)
- Support 7 days a week, including weekends
Jumbo Mortgages are available and designed to fit someone who has larger borrowing needs. Loan amounts up to $5 million may use the online application. For options available above $5 million, please contact an HUECU Mortgage Specialist for assistance.
Schedule an Appointment with a Mortgage Team Member
If you’re a medical professional searching for a home, HUECU’s Medical Professionals Home Loan offers low down payment options and flexibility!
40 Year 10/1 ARM Benefits and Features:
- Lower, more affordable monthly payment
- Lower monthly payment can increase your buying power
- Same rate as the 30 Year 10/1 ARM: view current rate
- Interest rate is fixed for the first ten years and then adjusts every year after for the life of the loan
- Available for purchases and refinances
- Available for conforming and jumbo mortgage amounts
- Available for first time homebuyers and eligible for first time homebuyer discount
Subject to credit approval.
1. Must be owner occupied property, Home Ready product is not eligible for discount.
2. Credit does not apply to No point no closing cost program.
3. Low income limits set by most recent data available at Huduser.gov.
Prequalification vs. Pre-Approval
The first step of buying a home is mortgage pre-qualification. When you are pre-qualified for a mortgage, our staff will discuss your needs to help determine how much you may be eligible to borrow prior to submitting a mortgage application.
A pre-approval is one step further than prequalification and requires additional documentation. With a pre-approval, we will provide a letter which tells sellers and real estate agents that you are financially prepared to negotiate a purchase. Pre-approvals are valid for 90 days.
Schedule
an Appointment
Make an appointment with an HUECU team member. Both phone and in-person options are available.
Mortgages Across New England
HUECU now offers our exceptional home loan experience in all New England states.