Home Loans
Explore Home Loan Options
Mortgage Loans
Looking to purchase, refinance, or update your home? Neighborhood Credit Union offers low-rate Mortgage Loans with financing available up to 95% maximum loan-to-value.
Why Choose Our Mortgage Loans
- Purchase and refinance options available
- Low competitive rates
- Financing up to 95% loan-to-value
- Guidance from dedicated mortgage professionals
Home Equity Loans
Use your home’s value to reach your goals. A Home Equity Loan offers a smart, flexible way to borrow for renovations, major purchases, or unexpected expenses.
Home Equity Benefits
- Borrow against your home’s equity
- Great rates with predictable payments
- Ideal for renovations or large expenses
- Streamlined application experience
Personal Loan Options
Personal Loan Plus
Planning a home improvement project but don’t want extra requirements? Personal Loan Plus offers flexible financing for renovations, landscaping, pools, and more — without using your home as collateral.
Why Personal Loan Plus
- Competitive rates
- Simple personal loan structure
- Apply online in under 10 minutes
- No home visit required for approval
- No home equity required
Message us with any questions or to assist with the loan process. We're happy to help!
Types of Mortgage Loans
Adjustable Rate Mortgage (ARM)
ARM loans with terms of 3, 5, 7 and 10 years. ARMs allow borrowers to take advantage of falling interest rates without refinancing, however they should always prepare for rates to increase as well.
Fixed-Rate Mortgage
A fixed-rate mortgage provides the borrower peace of mind knowing their monthly payment will be the same for the life of the loan. We offer 10, 15 and 20, and 30 year fixed-rate loans and the interest rate will always remain the same.
Construction Loans
Our construction financing program features a 12 month term to build the home, with 4 draws throughout the process. Upon maturity, the balance of the loan will need to be refinanced into a 15, 20 or 30 year fixed-rate mortgage.
Federal Housing Administration (FHA)
The FHA loan is a great program for homebuyers that may not have exceptional credit, or are looking for a low down payment option with affordable terms.
Jumbo Loans
A Jumbo loan allows you to purchase a home with an amount that would traditionally exceed the limits of conventional financing. Luxury homes and multi-unit properties are among those financed with a Jumbo loan.
There's more!
Which loan program is right for you? The answer to that question comes together when our experience meets your goals and unique financing needs. Take a few minutes to familiarize yourself with all of our mortgage solutions.
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Frequently Asked Questions
No, in fact we recommend getting pre-qualified for a mortgage loan before you begin your home searching process. Pre-Qualification is often a great place to start because you'll learn exactly how much you are approved to borrow, making the process of searching for the right home much more efficient.
A Fixed Rate mortgage loan features monthly principal and interest payments that will remain the same throughout the life of the loan. An Adjustable Rate Mortgage (ARM) is a loan that allows the lender to adjust the interest rate during the term of the loan. ARM terms can be complex, you may want to consult with a Mortgage Consultant to determine if an Adjustable Rate loan is right for you.
Yes, we understand that saving for a down payment can be difficult, that's why we offer multiple loan programs that feature low down payment or no down payment requirements!
When applying for a mortgage loan you'll need to gather a variety of documentation. Your Mortgage Consultant will provide you with specific information on what items are required, but this may include:
• Copy of driver’s license for each borrower
• Most recent pay stub showing year-to-date (at least 30 days) earnings
• W2's- 2 years
• Most recent asset statements covering two full month(s)
• Complete signed & dated Federal Tax Return including all schedules- 2 years
• Most recent 401K/Retirement statement- all pages
• Copy of last mortgage statement (for refinances)
• Purchase agreement signed by all parties (for home purchase transactions)
Generally, an escrow account refers to the funds a borrower pays to a lender along with their principal and interest payments for the payment of real estate taxes and hazard insurance. This is also referred to as impounds. The money is held in an account to ensure it is available to the lender when payments are due.