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Click on one of the links below to learn about our home loan options.
Home Loans
Home Equity Loans/HELOCs
Home Improvement Loans
Rates
Home Loans
Whether you are buying your first home, purchasing an investment property, buying a second home, or refinancing, our Mortgage Officers can help you to make sure the process goes smoothly and you are well informed. We are not-for-profit, so our Mortgage Officers only want you to have the best deal you can get without the hassle. To learn more about our mortgage process or to set up an appointment with one of our Mortgage Officers, call us at 1(800)940-9466 or send us an email at mortgages@massmutualfcu.org.
Mortgage Pre-Approvals
Our MortgageClick® online loan application allows you to apply for your mortgage pre-approval when your schedule allows. Just answer a few simple questions and you could have a loan decision within 15 minutes. Once you are pre-approved, you'll be able to shop for your new home and know which houses are within your price range. It's silly to waste time looking at houses that aren't within your price range, so getting pre-approved eliminates this wasted time. Plus, you'll be able to negotiate better with realtors and owners if they know you are pre-approved. Please note: A 5% down payment is required for most purchase programs.
Locking in your rate with no cost
We allow you to lock in your rate for a period of 30 days once your mortgage application has been approved, and if purchasing a home you have an accepted offer. Pre-approvals are not eligible for rate locking until an accepted offer to purchase is available. If you lock and rates take a jump up during the 30 days you are protected from the increase. Your signature is required at the time of locking a rate.
Refinancing
Looking to save some cash? If your current mortgage rate is higher than our mortgage rates, it may be a good idea to refinance your mortgage into a lower rate. Check out our calculator page if you'd like to run some numbers first. Or apply online to get started today.
Have questions? Contact us at 1(800)940-9466 or send us an email at mortgages@massmutualfcu.org.
Interest-First Mortgages
Our interest-first mortgages allow you to pay only interest for the first 10 years and then an amortized payment for the next 20 years.
No Point Option
With this option you can get a competitive rate that allows you to lower your up-front costs when purchasing a home.
Adjustable Rate Mortgages
Adjustable Rate Mortgages (ARMs) offer a selection of payment terms, built-in interest rate caps for you protection, plus the option to convert to a fixed rate loan (closing costs may apply).
Home Equity Loans/HELOCs
Looking to remodel your home? Put in a pool? Pay for a vacation? Pay for a college education? Consider our Home Equity Loans or Home Equity Lines of Credit (HELOCs) to pay for any of these or other spending plans you may have. You can enjoy a low rate and in most cases the interest you pay is tax deductible (consult your tax advisor for details). To learn more about our Home Equity Loans or Lines of Credit, give us a call at 1(800)940-9466 or send us an email at mortgages@massmutualfcu.org.
Home Equity Loans
If you like the stability and comfort of fixed rates, terms, and monthly payments, our home equity loans could be the right fit for you. We have low closing costs, and you can apply online.
Home Equity Line of Credit (HELOC)
If you want to have a line of credit available to use whenever you need it, you're probably interested in our home equity line of credit (HELOC). There are no appraisal fees, annual fees, title fees, or application fees, and you can apply online. Special! HELOC introductory rates are as low as 1.99% APR*!!
We also give you the option to move a portion of your HELOC into a fixed rate Home Equity Loan.**
Home Improvement Loans
If you don't qualify for a home equity loan or HELOC, but you need to make some improvements to your home, we have a Home Improvement Loan that can help. You can borrow on the assessed value of your home or the appraised value, whichever is higher.
Check out our current Home Improvement Loan rates.
Apply online today for a Home Improvement Loan.
Have questions? Give us a call at 1(800)940-9466 or send us an email at mortgages@massmutualfcu.org.
*APR=Annual Percentage Rate. Prime as of 01/31/2010 is 3.25%. The introductory rate will remain the same for the first 3 months from the loan closing date. The interest rate is based on borrowing up to 80% of the equity in your home. Upon expiration of the introductory rate, your rate will automatically revert to prime minus 50 basis points, currently 2.75%. (If borrowing up to 90% of the equity in your home, your introductory interest rate will be at 2.99%. Upon expiration of the introductory rate, your rate will automatically revert to prime plus 50 basis points, currently 3.75%.) Hazard insurance is required. Flood insurance may be required subject to flood certification. The maximum APR is 18%.
Offers are good for new MMFCU Home Equity Lines of Credit only. Limited Time Offer. May be withdrawn at any time. Requires a MMFCU Checking account.
**At anytime you may convert your line of credit balance into a fixed rate home equity loan. You must leave at least a $10,000 line of credit open to avoid any costs of converting. Fees may apply if your entire line of credit is closed and discharged. Your rate upon switching to a fixed rate will be set at the Credit Union's current rate on a home equity loan with a similar term.
