The American Dream is all about owning your own home.
Northwoods Community Credit Union can help you obtain your dream. Our friendly and experienced lending professionals can help you sort through the financing options and design a Mortgage that will fit your financial goals. Most importantly, your Mortgage will be handled on a personal basis by people you know and trust.
If you are ready to take the next step in owning a home, we encourage you to schedule an appointment with one of our experienced lending professionals to discuss all the options for your home Mortgage.
Get started today by contacting our lending department at Northwoods Community Credit Union.
Conventional Fixed Rate
NCCU offers 15, 20, and 30 Conventional Fixed-Rate Mortgages for purchases and refinancing of your current mortgage.
Property Insurance is required on loan collateral. Approvals subject to qualified credit and property evaluation. APR will vary based upon the applicant’s creditworthiness, the term of the loan, your final loan amount, and finance charges. Member eligibility required. Other restrictions may apply.
Adjustable-Rate Mortgages
The Adjustable-Rate Mortgage program (ARM) offers the lowest rates of all the conventional Mortgage programs available to the consumer. This program typically offers a 1 to 3-year rate lock with adjustable provisions for future rate changes. Oftentimes, these rate changes are controlled by an index and a margin that prohibit the rate change from fluctuating significantly with each adjustment. The frequency of interest rate changes, along with a ceiling or cap, can provide the consumer with an added security provision that will prevent interest rate volatility. The ARM loan also provides many different opportunities to borrow more money and have smaller mortgage payments at below-market rates. This philosophy allows the consumer to buy and finance a larger dollar amount and still keep the payments at a qualifying level that is affordable and within their personal budgetary guidelines.
Jumbo Mortgages
NCCU offers members opportunities to finance single-family dwellings where the amount financed is larger than the limit for conventional financing. When finance amounts are $417,000.00 or greater, members can apply for financing. A loan-to-value of 95% is offered, provided members qualify for Mortgage Insurance. Contact our loan department for more details.
Balloon Mortgages
Does your job require you to relocate every few years? Is your family growing, and is there a need for additional bedrooms? Are you looking for a smaller home once the kids leave and have little left to pay? A 7-year balloon may be right for you.
Property Insurance is required on the loan collateral. Approvals subject to qualified credit and property evaluation. APR will vary based upon the applicant’s creditworthiness, the term of the loan, your final loan amount, and finance charges. Member eligibility required. other restrictions may apply.
Special Needs Financing
This Mortgage program provides financing for members who, for certain reasons, don’t qualify for conventional financing. Low or no money down programs with 100% Loan to Value financing, and even additional funding for the closing cost to qualified applicants. Contact one of our lending professionals to see how we can work with you!
Home Equity Loans
Your investment in your home is worth money in your pocket. Our Home Equity Loans are designed to give you borrowing power for virtually any type of major or minor expense. You have worked hard to build equity in your home. Use that equity for home improvements, college tuition, medical expenses, or other financial needs.
Apply online or contact one of our lending professionals for more information.
Home Equity Line of Credit
With Northwoods Community Credit Union’s Home Equity Line of Credit, you apply for a loan just one time. Once you are approved, you can borrow from this “line of credit” time and time again. You borrow the amount you want (up to your approved limit) when you need it for any purchase.
Access to your money is easily accessible by use of your Home Equity Credit Card. It’s that convenient!
For a limited time, apply for a Home Equity Line of Credit and we’ll waive the $50.00 processing fee!
Apply online or contact one of our lending professionals for assistance.
NMLS ID 447565