1All Mortgages: Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our
rates page for all available rates and terms. Rates effective as of
and subject to change at any time. Offers may be withdrawn at any time. Programs, rates, terms and conditions are subject to change at any time without notice. Workers Federal Credit Union membership required. Subject to membership eligibility; minimum balance to open membership account is $5, unless otherwise noted. See account terms and conditions provided at opening of membership account for additional information.
2First-Time Homebuyer: Primary residence owner occupied, 1-4 family and condominiums located in MA and NH only. Credit score of 620 or higher unless otherwise noted. Properties used for business purposes do not qualify. Homebuyer Education course must be completed by at least one borrower; borrower is responsible for the cost of the course. Speak with a mortgage originator to determine eligibility. 0.125% rate discount available for qualifying First-Time Homebuyer mortgages only.
An individual is to be considered a first-time homebuyer who (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or single parent also will be considered a first-time homebuyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-year period.
3Treasury Adjustable Rate Mortgage (TRS ARM): Treasury Adjustable Rate Mortgage (TRS ARM) products are available for the purchase or refinance of eligible residential properties located in Massachusetts and New Hampshire. Product availability may vary based on occupancy type, property type, and loan purpose.
TRS ARM products feature an initial fixed-rate period followed by a variable-rate period. After the fixed-rate period ends, the interest rate may adjust periodically based on changes to an index plus a margin. The index used for TRS ARM products is the weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, as published by the Federal Reserve Board. The current margin is 2.75%.
Interest rate adjustments are subject to contractual limitations and may result in increases or decreases to the interest rate and payment amount over the life of the loan.
Property eligibility, occupancy requirements, loan-to-value limitations, credit qualifications, and other underwriting conditions apply. Construction financing options may be available for certain owner-occupied properties.
Taxes, insurance, flood insurance (if applicable), and other escrowed amounts are not included in the loan payment and will increase the borrower's total monthly obligation.
All mortgage loans are subject to credit approval, property valuation, underwriting requirements, and program guidelines. Contact Workers Federal Credit Union for current rates, terms, eligibility requirements, and complete program details.
4TRS ARM Jumbo Mortgage: Jumbo Rate Loan limits: 1 family $2,000,000 at 80% LTV. Lesser loan limits apply on LTVs greater than 80%. Taxes and insurance not included. Actual payment obligation may be greater. Required down payment as low as 5%. All listed ARM APRs are based on $900,000 loan to purchase a single family primary residence at a 60% LTV.
5VA, FHA & USDA Mortgages: Programs for primary residence only and are subject to change.
6Coverage varies by carrier. Products offered by Workers Insurance Agency and Affiliated Companies. Coverage is subject to eligibility and availability. Other terms, conditions, and exclusions may apply. Insurance products available through Workers Insurance Agency, a CUSO of Workers Credit Union are: NOT A DEPOSIT NOT INSURED, NOT NCUA INSURED, NOT MSIC INSURED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, NOT INSURED OR GUARANTEED BY THE CREDIT UNION OR AFFLIATES. MAY LOSE VALUE. SUBJECT TO INVESTMENT RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL INVESTED.
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