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.

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Primary Residence

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.

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VA Loans

A no down payment/equity loan for eligible Veterans purchasing or refinancing a Primary Residence.

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Jumbo Mortgages

Fixed rates for 10 or 30-year terms and Adjustable Rates for 30-year terms for a loan amount above $424,100. Minimum down payment of 5-10% depending on loan size. Servicing of loan will stay with NEFCU after closing.

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FHA Loans

A low down payment/equity loan for purchasing or refinancing a Primary Residence with flexible underwriting and credit guidelines.

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Adjustable rate with 20 year amortization and 10 year balloon. Minimum 20-35% down payment depending on use of land.

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Fixed rate with 6-12 month term. Permanent financing available when construction is complete. Minimum 10% down payment.

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Investment or Non-Owner Occupied

Fixed and adjustable rate options with 10-30 year terms for 1-4 unit rental properties. Minimum 20-30% down payment.

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Second/Seasonal Properties

Seasonal properties are single family residential properties occupied by the owner and are not the legal residence of the owner/borrower.