Looking to secure financial stability? Let us guide you home. Apply for a mortgage with us to see where the financial road to success can take you.
Buying your first home can feel overwhelming, but you don’t have to navigate the process alone. At Boulevard Federal Credit Union, we’re committed to making the homebuying journey as simple and stress-free as possible. Explore the helpful resources provided by Credit Union Mortgage Association, Inc. to learn more about the process and see if this program is the right fit for you.
We also offer Fixed-Rate Mortgage Loans, one of the most popular financing options for homeowners. A fixed-rate mortgage interest rate remains locked in from the time your loan closes until the mortgage is paid in full, providing long-term stability and peace of mind. While monthly payments may fluctuate slightly due to changes in taxes or insurance, your interest rate will remain constant — making budgeting and financial planning easier and more predictable.
We also offer Adjustable-Rate Mortgage (ARM) loans, which provide a fixed interest rate for an initial term of 3, 5, 7, or 10 years, depending on the option you choose. After the initial fixed-rate period ends, the interest rate may adjust annually based on market conditions and loan terms.
ARM loans can be a beneficial option for borrowers who plan to pay off their mortgage sooner, refinance before the adjustment period begins, or expect their financial situation to change over time. This type of loan may offer greater flexibility and lower initial interest rates compared to traditional fixed-rate mortgages.
*All loans are initiated and funded by Credit Union Association, Inc. APR=Annual Percentage Rate. Rate and eligible LTV may vary based on individual credit history and underwriting factors. Property insurance is required on all Home Loans. Consult your tax advisor for details on the tax deductibility of interest. Interest rates and program terms are subject to change without notice. Not every applicants will qualify.
Complete application on Credit Union Mortgage Association, Inc. website.
Discuss options avaliable to you with a qualified Credit Union Mortgage Association, Inc. advisor.
Sign documents.
Receive the keys to your new home. Enjoy the new title of home owner.
No, we do not have any added fees when taking out a Mortgage. However depending on which type of loan you go with you may be required to have a down payment and closing costs available in your account prior to a pre approval letter being issued.
Yes, the Credit Union Mortgage Association, Inc. will pull your credit when reviewing you for a loan.
A pre approval letter is a letter given out by Credit Union Mortgage Association, Inc. which states that your finances have been gone through and you are able to comfortably afford a home within a certain price range. Most sellers / realtors prefer this to be provided once a bid is placed to reduce the likelihood of a deal falling through due to financial problems.
Typically between closing costs and down payment you would need to have at least 10% of the purchase price of the home saved. This amount could vary depending on what type of Mortgage you decide to go with. This will all be discussed in great detail with a representative from Credit Union Mortgage Association, Inc.
Yes, your first advance is required to be at least $7,500.00. Any Subsequent advances advances would need to be at least $1,000.00.
