Mortgage Options

FIXED MORTGAGES maintain the same great rate and monthly payment over the life of the loan and those who desire predictability and payment stability. Our fixed mortgage programs offer:

• A selection of 10, 15, 20, 30 year mortgage terms

• Great rates just for NIHFCU members

• Loan amounts up to $765,600 on conforming loans

• Loan amounts up to $1,500,000 on jumbo loans

• Options available with as little as 0% for qualified buyers

• Preferred member rates for Private Mortgage Insurance (PMI), if required

Featured fixed mortgage options

• HomeReady mortgage:  30 year loan with as little as 3% down. Gifts and cash-on-hand can be used for down payment and closing costs.

• Jumbo Loan: 20 – 30 year loan with amounts up to $1.5million for owner occupied residences, LTV up to 95% and other features

ADJUSTABLE MORTGAGES (or ARMs) start with a lower rate and then adjust periodically over the life of the loan for those who prefer lower initial payments or plan to sell in a finite period of time.

• A selection of 3,5,7 or 15 year initial fixed-rate period

• Great rates just for NIHFCU members

• Loan amounts up to $1,500,000

• Lock in your rate for 60 days¹

• Options available with as little as 0% for qualified buyers

• Preferred member rates for Private Mortgage Insurance (PMI), if required

Featured Adjustable Rate Mortgage options

• 5/5 ARM: Low initial rate that adjusts no more than 2% every 5 years. Total increase over life of the loan is capped at 5% above your initial rate.

• 15/15 ARM: The security of a 30-year fixed-rate mortgage with a lower initial rate that adjusts only once after 15 years.

• 7/1 ARM with no down payment and no PMI: Loan amounts up to $510,400 (with 20 year fixed rate 2nd trust to a combined maximum LTV of 100%)

For more advice, speak to a specialist, request your no obligation check-up or pre-qualification today.

Home shopping or just thinking about it? HomeAdvantage® can help you search, buy, sell like a pro and save THOUSANDS on your home purchase!

• Search new homes powered by MLS listing data

• Get Alerts as soon as new home listings hit the market

• Neighborhood research tools with crime data and school rankings

Plus, use one of our exclusive HomeAdvantage® agents to buy or sell, and you’re qualified to earn a reward equal to 20% of your agent’s commission.² The average reward in the DC area is $3,000 and can be used toward closing costs or just issued as a cash reward.

For more information, watch our video and then click below to get started.