Yes, we do Mortgage Loans!

It makes sense to trust your biggest loan to one of your biggest fans . . . your member-owned credit union. Neighbors offers member-friendly rates on fixed or adjustable rate financing, with a choice of terms and down payment options to make sure your loan is one you can live with.

Conventional Mortgage Loans

Whether you’re looking for a 15, 20, or 30 - year loan, Neighbors can help.  We offer competitive rates and terms to allow you to work within your budget to fulfill your homeownership dreams.

The new 40-year Conforming Fixed Mortgage is similar to the 30-year fixed mortgage, with the advantages of an extra 10 years. By increasing the standard loan term, the monthly payments are lower, making them more affordable and increasing buying power.

• 40 - Year Fixed Term
• Owner-Occupied, second homes and investment properties (investment property may require a higher down payment)
• Purchase, rate/term and cash-out transactions
• Maximum LTV (Loan to Value Ratio) and CLTV (total of all liens on the property divided by the appraised value) is 95%
• Required 5% down - based off the lower (sale price or appraisal amount)
• PMI (Private Mortgage Insurance) required for all loans above 80% LTV
• Maximum debt to income ratio 36%

Adjustable Rate Mortgages

If you’re looking for an alternative to traditional mortgages, an adjustable rate mortgage (ARM) could be the right choice for you. Our ARM program allows you to lock in a rate for the first five (5) years, lower than what’s available on a conventional loan. After the first five years, the rate then adjusts based upon a published index. 

Lot/Land Loans

If you’ve found the perfect location for your dream home, but you’re not quite ready to begin building, we can help.  We have programs available that allow you to purchase a lot or land prior to building your home.  Lot loans are available up to 100% financing.  Land loans have terms up to 10 years. 

Home Equity Loans / 2^nd Mortgages

Whether you’re looking to refinance your existing mortgage, or just set up a Home Equity Line of credit to use for any good purpose, Neighbors can help. Click here for Home Equity Information

If you’re going to be buying, building, or refinancing soon, you owe it to yourself to talk to us. Or Mortgage Lending Specialists are ready to help you better afford the home of your dreams.

See our helpful mortgage payment guide to calculate possible payments, or apply now with our online application. If you have questions or need any assistance, please contact us, or visit any of our locations.