Real Estate Loans

Ready to buy, build or refinance? NETCU is here to help!

Meet Our Team

Niki Carpenter Jennifer McEntire
Mortgage Specialist
Mortgage Processor

MLO #: 686271

MLO #: 1063583

 

 

Available Mortgage Options:

Traditional

FHA VA USDA Conventional Home Equity

Which Mortgage Is Right For ME ?

 

Traditional Loans

Provides borrowers with multiple financing options to purchase, construct or remodel a home, to purchase a vacation or second home, or to purchase land only.


Loan Highlights

  • Fixed rates.
  • Down payments as low as 10% to 20%.
  • Loans serviced and approved by NETCU lenders.
  • Multiple terms available including –
    • 5 years fixed, 10 years fixed, 15 years fixed or 5 year balloon amortized up to 30 years.
  • Rates as low as 4.00% APR.
  • All credit scores considered.

 

FHA Loans

Mortgage financing insured by Federal Housing Administration, caters to borrowers with less-than-perfect credit or those looking for low down-payment options. 


Loan Highlights

  • Down payment can come from a family member, or from a down payment assistance program. 
  • 620 credit score or higher.
  • Very limited credit history is allowed.
  • Lower required down payment – as low as 3.5%.
  • Seller contributions up to 6%.
  • Loans serviced by a preferred mortgage partner.
 

 

VA Loans

VA loans provide home financing to service members, veterans, and eligible surviving spouses. The U.S. Department of Veterans Affairs provides a home loan guaranty benefit and other housing-related programs to help borrowers buy, build, repair, retain, or adapt a home.


Loan Highlights

  • 100% financing.
  • 620 credit score or higher.
  • Seller contributions up to 4%.
  • Significantly lower fees.
  • No down payment for eligible veterans.
  • Loans serviced by a preferred mortgage partner.

 

USDA Loans

Provides borrowers with low- and moderate-income households the opportunity to own adequate and safe dwellings as a primary residence in eligible rural areas.


Loan Highlights

  • 100 percent financing.
  • 6 percent seller concessions.
  • 640 credit score or higher.
  • Primary residence only. Must meet property & income eligibility.
  • Loans serviced by a preferred mortgage partner.

 

Conventional Loans

A conventional loan has no government guarantee like FHA and VA loans. These types of loans typically have fewer eligibility requirements and offer more interest rate and term options.


Loan Highlights

  • Fannie seller/servicer.
  • Up to 97% financing.
  • 620 credit score or above.
  • Fixed rate for 10, 15, 20 or 30 year term.
  • Down payment of 3% can come from a family member.
  • Products available for primary, secondary, and investment properties. 
  • Property types available to 4-units and double-wide manufactured homes.
  • Loans serviced by a preferred mortgage partner.

 

Home Equity

Great way to use the equity in your home to pay for major expenses like medical bills, college tuition or remodels. Convert the equity in your home to cash.


Loan Highlights

  • Loans serviced and approved by NETCU lenders.
  • Fixed rates as low as 4.25% APR up to 15 years.
  • Closing costs as little as 3% of loan amount.
  • Up to 80% of appraised value.
  • All credit scores considered.
 
Ready To Apply?
 
Print Loan Application

Be Prepared!

Need More Info?

 

 

 

Mortgage Calculators

How Much Can I Afford?
How Much Can I Afford?

This page will calculate the most expensive house you can afford based on your income and other factors.

* The percentage of your pre-tax income you are able to spend on housing. 28% is the standard amount.

Yearly Income (before tax)
$
Down Payment
$
Interest Rate
%
Term of Loan
Percent of Incomssse for Housing *
%
 

Payment Calculator
Payment Calculator
Solve
Present Value:
Interest Rate:
Period:
Months or Years
Payment:
Future Value:
Baloon After Period:
Months or Years
Present Value:
Interest Rate:
Months/Years:
Payment:
Future Value:
Baloon Amount:
Interest Amount:
Total Amount:
Note: After you solve, you will be able to view the amortization schedule.


Should I Make An Extra Payment?
Should I Make An Extra Payment?

Input your Principal loan balance, Interest rate and Loan Term:

Principal Loan Balance:

You can also specify:

Interest Rate (%):

Annual Taxes:

Amortization, in Years:

Annual Insurance:

Monthly Payments Results

Monthly Principal and INTEREST

Monthly Taxes

Monthly Insurances

Total Monthly Payment


Bi-Weekly Payments Results

ByWeekly Principal and INTEREST

(Monthly amount / 2)


Summary

Interest you will pay with a MONTHLY
mortgage payment plan:

Interest you will pay with a BI-WEEKLY
mortgage payment plan:

Bi-weekly Mortgage Interest Savings:

Bi-weekly payments savings:

If you choose a bi-weekly mortgage payment system you are, in essence, choosing to add a 13th monthly payment to your annual number of monthly payments, and splitting it up between 26 bi-weekly payments. You will pay a little more per month with the bi-weekly payment system, but the total INTEREST paid on the loan will be the lowest.

By adding a 13th annual monthly payment to your annual number of monthly payments and spreading that extra monthly mortgage payment into bi-weekly mortgage payments...

Means that by paying an extra

every two weeks

you will pay off your mortgage loan in

months

instead of the current

months

your mortgage interest savings will be

Do you really want to give an extra

to the bank?


Early Mortgage Payoff Calculator
Early Mortgage Payoff Calculator

How much money will you save by making extra monthly mortgage payments?

This calculator assumes you have a fixed-rate mortgage.

Initial Loan Amount
$
Term of the Loan
Years Remaining
Interest Rate
%
Extra Monthly Payment
$
 

15yr. vs. 30yr. Mortgage
15yr. vs. 30yr. Mortgage

This calculator will offer a comparison of 15 and 30 year mortgages.

Purchase Price
$
Down Payment
$
15 Year Interest Rate
%
30 Year Interest Rate
%
 

Annual Housing Appreciation Calculator
Annual Housing Appreciation Calculator

This will calculate the annual appreciation of your house since you bought it.

Purchase Price
$
Date of Purchase
Current or Sale Value
$
Current or Sale Date