Our Mortgage Officers are experienced, local experts who will help you to get the home financing that’s right for you, under terms that are best suited to your needs and budget. Call 866-80-LOANS to speak with someone today, or apply online anytime! We’ll sit down with you to “crunch the numbers” to make sure you know in advance how much home you can afford. We’ll also get you pre-approved at no cost and no obligation!
|30 Year Fixed Rate||4.125%||4.160%||0.000%|
|5/5 Non-Conforming ARM Primary Residence||2.990%||3.975%||0.000%|
|7/1 Non-Conforming ARM Primary Residence||3.250%||3.263%||0.000%|
Pat Weaver #202636, Jeanne Boucher #204277, Annie McGurn #202082, Twyla Magnan #202192, Pete Nolasco #208270, Tim Donlan #826297, Cindy Reichard #627893, Sara Wright #982411
Institutional ID # 446767
NEFCU allows you to lock your rate (following the instructions below) if you:
Please note, you cannot lock a purchase pre-approval. You must wait until you have a signed Purchase and Sales Contract to submit a rate lock.
* Excludes VHFA loan programs.
Choose one of these options to lock a rate now:
The interest rate you lock, will be your rate regardless of whether rates go up or down before your closing provided that your loan disburses within the rate lock period. If your loan does not disburse within your rate lock period, your rate lock will expire. If your rate lock expires, NEFCU has the sole right to adjust the rate based upon market conditions. Your rate may be the same or higher in these instances. You can check current interest rates and the current rate lock time period here.
To lock your interest rate, we will require the following information:
We realize that getting a mortgage loan is a very big step. At NEFCU, we will make every effort to ensure that the process proceeds as smoothly and efficiently as possible. Below is an outline of what you can expect:
Phase I: Application
Phase 2: Processing
Phase 3: Underwriting/Approval
Phase 4: Closing
We would be happy to answer any questions for you or schedule an appointment with one of our Mortgage Loan Officers. Contact us at 866-80-LOANS.
Thank you for considering New England Federal Credit Union for your financing needs.
A primay residence is a 1-4 family residential property that is accessible and occupied year round by the owner/borrower and is the legal residence of the owner/borrower and which at the time of making the loan is used or intended to be used as a primary residence by the borrower within 60 days of closing.
Seasonal properties are single family residential properties occupied by the owner, accessible and usable only during a portion of the year, serviced by normal utilities and waste disposal systems and are not the legal residence of the owner/borrower. Rental income cannot be used for qualifying.
An investment or non-owner occupied property is a 1-4 family residential property owned and maintained as rental or investment property.
Loans are available for property that will become a primary residence in Vermont. There is a maximum loan-to-value of 80% of purchase price or appraised value, whichever is less, and an acceptable perk test is required. The loan is a 10 year balloon/variable amortization up to 20 years.
A mobile home on owned land is eligible for our residential programs. The mobile home must be dated 1976 or newer.