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Loan Types & Programs
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You do the buying or building.
We’ll do the financing!____________________________________
Loan Types & Programs
You do the buying or building. We’ll do the financing!
Our Mortgage Officers are experienced, local experts who will help you to get the home financing that’s right for you.
It is never too early to start the pre-approval process!
If you are thinking about purchasing a home in the next 6 months, plan to meet with your lender as soon as possible.
Being prepared with a pre-approval will cut weeks off of your search for a home.
Primary
Residence
| Owner/Borrower |
A primary residence is the legal residence of the owner/borrower and which is intended to be used as a primary residence by the borrower within 60 days of closing.
VA Loans
| Eligible Veterans |
A no down payment/equity loan for eligible Veterans purchasing or refinancing a Primary Residence.
Jumbo Mortgages
| Fixed & Adjustable Rates |
Fixed rates for 10 or 30-year terms and Adjustable Rates for 30-year terms for a loan amount above $726,200. Minimum down payment of 5-10% depending on loan size. Servicing of loan will stay with NEFCU after closing
Land
Loans
| Adjustable Rates |
Adjustable rate with 20 year amortization and 10 year balloon.
Minimum 20-35% down payment depending on use of land.
Construction
| Fixed Rates |
Fixed rate with 6-12 month term. Permanent financing available when construction is complete.
Minimum 10% down payment.
Investment or
Non-Owner Occupied
| Fixed & Adjustable Rates |
Fixed and adjustable rate options with 10-30 year terms for 1-4 unit rental properties. Minimum 20-30% down payment.
Second/Seasonal
Properties
| Single Family Residential |
Seasonal properties are single family residential properties occupied by the owner and are not the legal residence of the owner/borrower.
Mobile Homes
| Simple and Flexible |
Competitive, fixed rates for 15- or 20-year terms for new or used mobile homes,
whether in a park or on your own property. Minimum $10,000 loan amount.
Green Mortgages
| Reduce Environmental Impact |
Your dream of owning an eco-friendly home starts here with a mortgage that will support your energy and sustainability goals and save you money over the long term.