Features & Benefits Options with little to no down payment for qualified members. See programs & rates A mortgage loan officer with knowledge and support to help you at every step of the way. Save at closing with our mortgage rebate program. Learn more How It Works Share your info. Get started by providing us with a few pieces of information so we can match you with a personal Mortgage Loan Officer. Find a solution. Work with your mortgage loan officer to find a solution based on your individual needs and goals. Get approved. Your mortgage loan officer will then guide you through the entire process from start to finish. Close your loan. Get the keys to your new home! Special Mortgage Rebate1 When you get your mortgage loan through Virginia Credit Union, use an agent from Virginia CU Realty as your buyer's agent, and use Virginia Statewide Title Services for your title insurance, you could save hundreds. Loan Amount Rebate2 Up to $99,999 $240 $100,000 - $149,999 $500 $150,000 - $199,999 $750 $200,000 - $249,999 $1,000 $250,000 - $299,999 $1,250 $300,000 - $399,999 $1,500 $400,000 - $499,999 $2,000 $500,000+ $2,500 Mortgage Options & Rates 1 While you are free to select your own real estate brokerage and title insurance company in connection with your mortgage transaction, we offer our members a voluntary program that includes listing discounts for sellers and rebates at settlement. Specifically to qualify for the rebate, you must be a Virginia Credit Union member and close your mortgage through Virginia Credit Union, use Virginia Statewide Title Services for title insurance, and use an agent from Virginia CU Realty as your buyer’s agent. Rebate void where prohibited. Certain restrictions apply. Not available in all areas. 2 Points are a percentage of the loan amount. For example, when your loan officer mentions one point on a $100,000 loan, the loan officer is talking about one percent of the loan or $1,000. Lenders offer different interest rates on loans with different points. There are three main choices you can make about points. You can decide you don’t want to pay or receive points at all. This is called a zero point loan. You can pay points at closing to receive a lower interest rate. Or you can choose to have points paid to you (also known as a lender credit) and use them to cover some of your closing costs. Please note that a 1% origination fee is included in the APR. You can view assumptions and a payment example by clicking on a rate or APR above. Conventional Mortgages These traditional loans have either a fixed-rate or a lower initial monthly payment. Purchase Fixed Rate Mortgage Loan Good options if you plan to stay in your home for a while Rates as low as 3.428%3 3 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. Adjustable Rate Mortgage Loan (ARM) Offers a lower initial monthly payment Rates as low as 3.997%4 4 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. Government Loans Discounts and special rates are available for these government loans – if you meet certain requirements, such as first-time homebuyers. Purchase Federal Housing Authority (FHA) Loan First-time homebuyers and others can buy with a down payment as low as 3.5% Rates as low as 4.625%5 5 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. U.S. Department of Agriculture (USDA) Rural Development Loan Perfect if you’re buying farmland or in a rural community Rates as low as 3.815%6 6 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. Veterans Administration (VA) Loan No down payment required for eligible service veterans Rates as low as 3.481%7 7 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. Specialty Loans Explore different loans that are offered for specific homebuyers or land type. Purchase Jumbo Mortgage Loan Fund a mortgage balance that tops conventional or government thresholds Land Loan (for unimproved property) ARM designed for purchasing or refinancing land or a lot Doctors Mortgage Loan Up to 100% financing for new doctors, dentists and veterinarian VACU 100 Loan Up to 100% financing for current or previous homeowners HomeReady Loan (Federal National Mortgage Association) Flexible funding for low down payment and closing costs Virginia Housing Development Authority (VHDA) FHA Plus Loan First-time homebuyers can get a second mortgage to help fund down payment and closing costs Rates as low as 3.780%8 8 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR. Virginia Housing Development Authority (VHDA) with FNMA – No MI Low down payment with no mortgage insurance required Rates as low as 4.436%9 9 The loan product and rate examples seen here are current as of 1/23/2020 10:36:57. These rates are for illustrative purposes only. Other product and rate options are available. Your actual rate and APR are dependent upon your application and may vary based on factors such as your credit score, loan purpose, occupancy, property type, loan amount, and the value of your home. Interest rate and APR are updated daily and subject to change without prior notice. Please note that an origination fee may be included in the APR.