Mortgage Loans
Whether you are buying your first home, moving on to something bigger to suit a growing family, downsizing for retirement, buying a vacation home or a rental property, Alden Credit Union is here to connect you with the right mortgage, at the right rate. Alden Credit Union has low mortgage rates to benefit you our owners/members. You will find competitive rates, appealing terms, excellent personal service, and a variety of loan programs that will serve your needs. Our 10, 15, 20, and 30-year mortgage loans all have fixed rates that may vary, based upon your risk score. Mortgage rates assume a first line mortgage on purchased or refinanced owner-occupied residences only, as well as new construction mortgages for owner occupied primary residence.
Our Mortgage Products Include:
- 10 Year Fixed
- 15 Year Fixed
- 20 Year Fixed
- 30 Year Fixed
- 5/5 ARM No Boundary PLUS
- 5/1 ARM
- 7/1 ARM
- 5/1 ARM First Time Homebuyer
We also offer:
- FHA (Federal Housing Administration)
- VA (Veterans Administration) loans
- Construction Loans
- Keep the same rate during construction
- Fixed or Variable mortgages up to 30 years
- A construction loan and a mortgage rolled into one
To speak with us or set up a meeting with one of our friendly loan consultants at our Chicopee or Belchertown office, or call us at 413-536-0475.
Alden Credit Union NMLS #690881
Home Financing Calculators
- Should I refinance?
- Should I rent or buy?
- How much will I save by increasing my mortgage payment?
- How much mortgage might I qualify for?
| Term | Points | Interest Rate | APR | Payment per $1000 |
|---|---|---|---|---|
| 10 Year Fixed | 0 | 6.875% | 7.319% | $11.55 |
| 10 Year Fixed | 1 | 6.750% | 7.424% | $11.48 |
| 10 Year Fixed | 2 | 6.625% | 7.531% | $11.42 |
| 15 Year Fixed | 0 | 6.875% | 7.191% | $8.92 |
| 15 Year Fixed | 1 | 6.750% | 7.230% | $8.85 |
| 15 Year Fixed | 2 | 6.625% | 7.270% | $8.78 |
| 20 Year Fixed | 0 | 7.000% | 7.256% | $7.75 |
| 20 Year Fixed | 1 | 6.875% | 7.262% | $7.68 |
| 20 Year Fixed | 2 | 6.750% | 7.270% | $7.60 |
| 30 Year Fixed | 0 | 6.875% | 7.069% | $6.57 |
| 30 Year Fixed | 1 | 6.750% | 7.044% | $6.49 |
| 30 Year Fixed | 2 | 6.625% | 7.019% | $6.40 |
**The rates and Annual Percentage Rates (APRs) on the first mortgage loans are based on the following: $100,000.00 mortgage, 20% equity/down payment and 15 days prepaid interest. The APR will vary based on your final loan amount and finance charges. The actual interest rates and Annual Percentage Rates (APR) shown are subject to change without notice. The cost per thousand does not include Real Estate taxes and Insurance premiums. Actual payment may be higher. Fixed rate loans may be intended for sale in the secondary market and must meet investor guidelines. Homeowner’s insurance and flood insurance (if applicable) are required. Private Mortgage Insurance (PMI) is required if your down payment /equity is less than 20%. Rates posted are for purchase or refinance money, 1-4 family owner occupied properties. Maximum loan amount is $766,550.00**
| Loan Type | Initial/Annual/Life Rate Change Caps | Margin/Index | Interest Rate | APR | Payment per $1000 |
|---|---|---|---|---|---|
| 5/5 ARM No Boundary PLUS
The rate and Annual Percentage Rate (APR) is based on a 30 year term, $100,000.00 mortgage, 15 days prepaid interest, owner occupied, 1-4 family properties and up to 90% of home value with no private mortgage insurance required. Purchases and Refinances are allowed – cash-out refinance allowed. |
2%/2%/6% | 2.875% | 5.490% | 6.303% | $5.67 |
| 5/1 ARM | 2%/2%/6% | 2.875% | 5.750% | 6.833% | $5.84 |
| 7/1 ARM | 2%/2%/6% | 2.875% | 6.000% | 6.785% | $6.00 |
| 5/1 ARM First Time Homebuyer
****Contact Alden Credit Union for more information on our First Time Homebuyer Program |
2%/2%/6% | 2.875% | 5.750% | 6.833% | $5.84 |
Rates are subject to change at any time and may increase. Rates apply to loans up to $726,200.00 **APR – Annual Percentage Rate. The cost per thousand does not include Real Estate taxes and Insurance premiums. Actual payment may be higher.
Rates and Annual Percentage Rates are based on a 30 year term, $100,000.00 loan with 20% equity/down payment and 15 days prepaid interest for purchases and refinances.
Owner occupied 1- 4 family properties with loan to values over 80.00% require Private Mortgage insurance and are rate/term loans only. No cash-out over 80% on 5/1 and 7/1
***Rate Change Caps – This is the maximum amount interest rates on Adjustable Rate Loans can change up or down. The first number is the amount they can change up or down on the first adjustment date. The second number is the amount they can change each subsequent year on the anniversary date. The third number is the maximum total change, up or down, over the life of the loan. Since the index in the future is unknown, the first adjustment payments displayed are based on the current index plus the margin (fully indexed rate) as of the effective date above.
APR: Annual percentage rate