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Mortgage CenterHEW Federal Credit Union is your one-stop shop for all things Mortgage related. Read on to get a glimpse of just some of what we have to offer!
For more information on all of our Mortgage and Home Equity options, contact our Mortgage Department at 800.742.5582 (Option 3, then Option 2). You may also apply online by clicking here.
Purchase or refinance your home. We offer various mortgage programs.
- Conventional�Loans (Fixed Rate and ARMs)
- VA Loans
- FHA Loans
- Jumbo Loans
- Reverse Mortgages
- Home Equity Loans
- Home Equity Lines of Credit
- Home Buying/Selling Service
ARM = Adjustable Rate Mortgages. ARMs increase your buying power and are very useful for those who want to buy their �dream home� (buying more home) at today�s price, but are just starting their careers and will not have the required monthly payment, even with today�s fixed rate options. Borrowers just starting their career paths are able to finance with a lower monthly payment with the anticipation that in 3 to 7 years they will see increases in their salary.
The value of an ARM in the current real estate market is being able to buy at a lower price, while having monthly payments you can afford today. We offer consumer-friendly ARMs, not to be confused with those offered by predatory sub-prime lenders, and do not charge pre-payment penalties. Our ARMs are fully amortizing, meaning that the balance decreases as you make payments (compared to negative amortization) and have rate caps to provide some protection from rising rates. For instance, a loan with a 2/5 cap that began at a rate of 2.5% could only adjust a maximum of 2% on the first adjustment and all subsequent adjustments, and in no case would ever be higher than 7.5% (starting rate of 2.5% + 5% rate cap).
Contact us today and we can explain all your options.
Am I Ready to Buy a Home?
Use these questions to help you decide if you are ready to buy a home:
- Do I have a steady source of income?
- Have I been employed on a regular basis for 2 - 3 years?
- Is my income reliable?
- Do I have a credit history?
- Am I able to pay my bills and other debts?
Apply Online!
It's easy with your credit union and our partner, Credit Union Mortgage Association. Experience the�"Credit Union Mortgage Advantage" with reduced paperwork and hassle-free online mortgage applications.�Click here�to apply now.
Also, when you get a mortgage from HEWFCU, you will automatically become a STAR Level�5 member!� For more information on our Star Program, click here.
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