Mortgages - Fixed and Adjustable

Whether it's a fixed rate or an adjustable rate, we're here to make sure your mortgage process is handled quickly, efficiently, and with attention to every detail.

Some of the features of our mortgages include:

  • ZERO points
  • LOW closing costs
  • Payroll deduction for both your regular monthly payments AND your real estate taxes  

Borrow up to $750,000. We finance loans on single family homes, 2-4 family homes, condos, or townhouses. The property must be owner occupied, or a vacation home.

Mortgage - Fixed Rates

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Term Rate APR Payment Example Per $1,000 Alert Me
30 Yrs 3.875% 3.925% $4.70/Month for 360 months
15 Yrs 3.250% 3.358% $7.03/Month for 180 months
10 Yrs 3.125% 3.280% $9.71/Month for 120 months
5 Yrs 3.000% 3.296% $17.97/Month for 60 months
All payment examples do not include taxes and insurance, therefore actual payment will be greater. Annual Percentage rates effective 11/8/2017 and subject to change. Other rates and terms are available and may apply based on individual credit score. Payment examples based on a loan with 0 points and 20% down payment. Closing costs apply to the above rates. All loans are subject to credit approval and may be subject to secondary market rate adjustments. Higher rates apply for jumbo mortgage products up to $750,000 for the 30 and 15 year fixed mortgage. Maximum loan amount is $200,000 for the 5 and 10 year fixed mortgage.

Mortgage - 5 and 10 Year Fixed Rate, No Points, No Closing Costs

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Term Rate APR Payment example per $1,000 Alert Me
10 Yrs 3.625% 3.625% $9.95/Month for 120 months
5 Yrs 3.500% 3.500% $18.19/Month for 60 months
All payment examples do not include taxes and insurance, therefore actual payment will be greater. Annual percentage rates effective 11/8/2017and subject to change. Other rates and terms are available and may apply based on individual credit score. Payment examples based on a loan with 0 points, 0 closing costs and 20% down payment. Members will be required to pay pre-paid interest and fund a real estate escrow account at closing. All loans are subject to credit approval. Maximum loan amount is $200,000. Not applicable for existing loans.

5/5 Adjustable Rate Mortgage

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5/5 ARM Initial Term Rate Remaining Term Fully Indexed Rate APR Payment Example per $1,000 Alert Me
5 Yrs 4.250% 25 Yrs 5.000% 4.773% 60 monthly payments of $4.92
300 monthly payments of $5.31
All payment examples do not include taxes and insurance, therefore actual payment will be greater. Annual percentage rates effective 11/8/2017 and subject to change. Other rates and terms are available and may apply based on individual credit score. Payment examples based on a loan with 0 points and 20% down payment. Closing costs apply to the above rates. All loans are subject to credit approval. Adjustable rate and payment example is fixed for the first 5 years; then adjusts every 5 years to 3% above the weekly average yield on the 5 year U.S. Treasury Index. Interest rate cap of 2% per adjustment and 6% over the life of the loan apply.

3/3 Adjustable Rate Mortgage

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3/3 ARM Initial Term Rate Remaining Term Fully Indexed Rate APR Payment Example per $1,000 Alert Me
3 Yrs 4.000% 27 Yrs 4.750% 4.624% 36 monthly payments of $4.77
324 monthly payments of $5.18
All payment examples do not include taxes and insurance, therefore actual payment will be greater. Annual percentage rates effective 11/8/2017 and subject to change. Other rates and terms are available and may apply based on individual credit score. Payment examples based on a loan with 0 points and 20% down payment. Closing costs apply to the above rates. All loans are subject to credit approval. Adjustable rate and payment example is fixed for the first 3 years; then adjusts every 3 years to 3% above the weekly average yield on the 3 year U.S. Treasury Index. Interest rate cap of 2% per adjustment and 6% over the life of the loan apply.


 

Piggyback Mortgage

Members who may not have been eligible to buy a home before have an option designed to help them live the dream of owning a property.

It's tough enough making a living, and when residency requirements or merely the desire to live in a certain area are dictating your housing choices, it's sometimes hard to realize your desire of purchasing your own home. Worry no more! Our new "Piggyback Mortgage" program is designed to help you afford the house you've always wanted.   Usually, without a 20% down payment on a property a potential home owner is forced to pay for costly Private Mortgage Insurance (PMI). With real estate values in the area skyrocketing, 20% can seem like an impossible figure to come up with. In the "Piggyback Mortgage" program, you take out what is in essence a second loan that will provide you with the 15% of the deposit you need and roll that payment in with your regular monthly mortgage. You only need to come up with 5%! This allows you to buy a more expensive home without high PMI premiums.

Piggyback Fixed Rates

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Term Rate APR Payment Example per $1,000 Alert Me
1st Mortgage - 30 Yrs 3.875% 3.925% $4.70/Month for 360 months
2nd Mortgage - 20 Yrs 4.375% 4.386% $6.26/Month for 240 months
All payment examples do not include taxes and insurance, therefore actual payment will be greater. Annual Percentage rates effective 11/8/2017 and subject to change. Other rates and terms are available and may apply based on individual credit score. Payment examples based on a loan with 0 points and as low as 5% down payment. Closing costs apply to the above rates. All loans are subject to credit approval and may be subject to secondary market rate adjustments. Higher rates apply for jumbo mortgage products up to $750,000. Special restrictions apply. For details, please contact the loan department.

Don’t forget, payments are easy at BFCU. You can utilize payroll deduction, direct deposit (ACH), set up an automatic payment from your BFCU account, or use our convenient Online Banking feature. And there are never any prepayment penalties.