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Loans & Credit Cards

Mortgage Options

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Fixed Rate Mortgages

A traditional fixed rate mortgage is where your interest rate remains unchanged throughout the life of the loan.

May be a good option if you:

  • Want the security of a predictable mortgage payment
  • Plan to remain in the home for at least 10 years
  • Do not expect significant increases in your household’s income
  • Want to increase the amount of loan for which you can qualify
Highlights of NIHFCU fixed loans include:
  • Conforming loan amounts up to $417,000
  • No down payment options
  • 10, 15, 20 and 30 year terms available
  • Seller may contribute up to 6% toward closing costs depending on amount of down payment

Adjustable Rate Mortgages (ARMs)

An adjustable rate mortgage has a lower initial interest rate which is subject to changes in the market. This may result in periodic changes in your monthly payments.

May be a good option if you:

  • Want to keep your payments low
  • Increase your opportunity to purchase a larger or more expensive home
  • Do not mind the potential risk (and reward) of adjusting interest rates / monthly payment
  • Plan on moving out of the home within the next five to ten years
  • Plan to pay-off your home loan within the next five to ten years
  • Expect your household income to increase significantly within a short period of time

Highlights of NIHFCU adjustable rate mortgages include:

  • Loan amounts up to $1,000,000
  • Minimum down payment of 3%
  • Seller may contribute up to 3% toward closing costs
  • To view full disclosures on our 1, 3, 5, and 7 year ARMs, click here

Jumbo Mortgages

Jumbo mortgages are also known as non-conforming loans. This is a loan with an amount larger than the conventional conforming loan limit of $417,000.

Highlights of NIHFCU Jumbo Mortgage include:

  • Fixed and adjustable rates available
  • 95% LTV (loan-to-value) up to $500,000
  • 90% LTV up to $750,000
  • 80% LTV up to $1,000,000

Affordability Program

  • Loan amounts up to $417,000
  • No down payment option
  • Seller can pay up to 3% toward closing costs
  • 15 and 30 year terms available
  • Expanded qualifying ratios
  • Less up-front cash required

Other Programs

  • 80/10/10
  • 80/15/5
  • Second homes
  • Equity Loans and Lines of Credit

Additional programs are available. Please contact our Mortgage Services Department at (301) 718-0208 or e-mail us.

CU@Home Enrollment

Enrolling in CU@Home is easy - Here's how:

If you do not have an Access 24 Personal Access Code or need assistance please call 301-718-0208, 800-877-6440 or 301-881-5822 (Hearing Impaired).

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