Latest rates
Rates and Terms15/5 Adjustable rate
as low as10/5 Adjustable rate
as low as30 Yr Fixed rate
as low as
15/5 ARM for First Time
Home Buyers
3% Down, Lender Paid PMI**, $999 Closing Costs*
Excited to buy your first home? Our first-time borrower program and dedicated lending team are here to help you qualify for a mortgage.
10/5 Adjustable Rate Mortgages
Secure a fixed rate for the first 10 years with our adjustable-rate mortgage, then enjoy adjustments every 5 years.
Plus, save $500 on closing costs when you shop with our local realtors!
A friend highly recommended Central One Federal Credit Union and couldn't be happier. Simple, quick process.
Ready to make homeownership a reality?
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APR – Annual Percentage Rate
*15/5 ARM for First Time Home Buyers: 690 minimum credit score, must be owner occupied single family/one unit property. Must have direct deposit into a Central One account. In order to be considered a first-time home borrower you must not have owned property in the past three years. The $999.00 closing costs do not include Owners Title Insurance and Pre-paid items such as Property Insurance, Tax Escrow, and Pre-paid insurance. Additional fees may apply.
**The PMI (Private Mortgage Insurance) premium is lender paid (“lender credit”) as a single premium payment from the credit union on behalf of the borrower. Subject to PMI approval.
15/5 ARM for First Time Home Buyers
APR – Annual Percentage Rate
Our program helps borrowers qualify for a mortgage with up to 40-year loan term with a adjustable rate. Enjoy a fixed rate for the first 15 years, then adjustments every 5 years. To limit your risk of rate fluctuation, Central One caps the interest rate change to 2% (up or down) at every review period and 5% (up or down) over the life of the mortgage.
Best for:
- First Time Home Buyers
- Those wanting a low monthly payment
- Those not wanting to pay PMI (Private Mortgage Insurance)**
- Those wanting a low down payment and low closing costs*
Benefits:
- Rates as low as
APR - As little as 3% down for qualified applicants
- $999 Closing Costs*
- Lender Paid PMI**
- Lower payments than a 30 year fixed rate loan
- No prepayment penalties
- Terms available up to 40 years
Adjustable Rate Mortgages - 10/5 ARM
APR – Annual Percentage Rate
Most first-time homeowners stay in their home for less than 10 years. That’s why Central One is offering the 10/5 ARM. This adjustable rate mortgage locks in a fixed rate for the first 10 years, the rate then adjusts once every 5 years.
To limit your risk of rate fluctuation, Central One caps the interest rate change to 2% (up or down) at every review period and 5% (up or down) over the life of the mortgage.
Best for:
- First Time Home Buyers
- Those planning to live in their new home for 10 years or less
- Those wanting a lower down payment and lower closing costs
Benefits
- Rates as low as
APR - As little as 3% down for qualified applicants
- Reduced closing costs compared to a fixed rate mortgage
- Often an APR much lower than a 30-year fixed rate mortgage
- No prepayment penalties
- Rate reduction for setting up automatic payments from your Central One Premium checking account***
- Terms of up to 30 years
Rates
| ARM | Loan to Value | Rate | *APR | Details |
|---|---|---|---|---|
|
15/5 ARM** |
≤ 75% |
|
|
More Information |
|
15/5 ARM** |
> 75% |
|
|
More Information |
|
10/5 ARM |
≤ 75% |
|
|
More Information |
|
10/5 ARM |
> 75% |
|
|
More Information |
|
5/1 ARM |
≤ 75% |
|
|
More Information |
|
5/1 ARM |
> 75% |
|
|
More Information |
|
3/3 ARM |
≤ 75% |
|
|
More Information |
|
3/3 ARM |
> 75% |
|
|
More Information |
|
1/1 ARM |
≤ 75% |
|
|
More Information |
|
1/1 ARM |
> 75% |
|
|
More Information |
Rates are subject to change.
*APR-Annual Percentage Rate
Adjustable rates are variable
Adjustable-Rate Mortgage (ARM) Disclosure: Actual rate will be determined based on credit history, term, loan to value and other factors.
** 15/5 ARM (adjustable-rate mortgage) available for first time home buyers only with terms available up to 40 years.
| Fixed Term | Points | Rate | APR |
|---|---|---|---|
|
7 Year |
0 |
|
|
|
7 Year |
1 |
|
|
|
7 Year |
2 |
|
|
|
7 Year |
No Closing Costs |
|
|
|
10 Year |
0 |
|
|
|
10 Year |
1 |
|
|
|
10 Year |
2 |
|
|
|
10 Year |
No Closing Costs |
|
|
|
12 Year |
0 |
|
|
|
12 Year |
1 |
|
|
|
12 Year |
2 |
|
|
|
12 Year |
No Closing Costs |
|
|
|
15 Year |
0 |
|
|
|
15 Year |
1 |
|
|
|
15 Year |
2 |
|
|
|
15 Year |
No Closing Costs |
|
|
|
20 Year |
0 |
|
|
|
20 Year |
1 |
|
|
|
20 Year |
2 |
|
|
|
20 Year |
No Closing Costs |
|
|
|
30 Year |
0 |
|
|
|
30 Year |
1 |
|
|
|
30 Year |
2 |
|
|
|
30 Year |
No Closing Costs |
|
|
Rates effective as of: April 21, 2026
Rates are subject to change.
*APR-Annual Percentage Rate
Fixed Rate Mortgage Disclosure: Published rates are based on purchase transactions with 25% down. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
| Term | *APR |
|---|---|
|
7 years or less |
|
|
7 to 10 years |
|
|
10 to 12 years |
|
Rates effective as of: April 21, 2026
*APR: Annual Percentage Rate
Rates are subject to change.
MyChoice Mortgage Refinance Disclosure: First position mortgage only. Property must be owner-occupied. Appraisal is needed for any loan to value over 70% of assessed, or any loan amount over $400,000, max loan to value is 80% of appraised value. If you live outside of Worcester County, additional Appraisal and Title Search Fees may apply. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
Disclosures
APR – Annual Percentage Rate
*15/5 ARM for First Time Home Buyers: 690 minimum credit score, must be owner occupied single family/one unit property. Must have direct deposit into a Central One account. In order to be considered a first-time home borrower you must not have owned property in the past three years. The $999.00 closing costs do not include Owners Title Insurance and Pre-paid items such as Property Insurance, Tax Escrow, and Pre-paid insurance. Additional fees may apply.
**The PMI (Private Mortgage Insurance) premium is lender paid (“lender credit”) as a single premium payment from the credit union on behalf of the borrower. Subject to PMI approval.
‡Annual Percentage Yield. Premium rate based upon Central One’s Regular Savings Account plus 1%.
***Requirements for mortgage rate reduction : Must have a Premium Checking account. In addition to maintaining all other membership and Premium Checking account requirements, mortgage must be on primary residence purchase only. All loan programs, rates, terms and conditions are subject to change. Loan approval and actual rate will be determined based on credit history, term, loan to value, and other factors.
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Open Account
Ice Cream Day Dates
| Location | 2026 Dates | Time | Vendor |
|---|---|---|---|
|
Auburn |
June 25, 2026 |
4pm - 6pm |
Trombetta's Farm |
|
Milford |
July 9, 2026 |
4pm - 6pm |
Trombetta's Farm |
|
Shrewsbury |
July 23, 2026 |
4pm - 6pm |
Trombetta's Farm |
|
Westborough |
July 30, 2026 |
4pm - 6pm |
Uhlman's Ice Cream |
|
Northborough |
August 27, 2026 |
4pm - 6pm |
Trombetta's Farm |
Food Truck Dates
Check back for the 2026 dates and times
Adjustable Rate Mortgages
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The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.
Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application. Payments do not include taxes and insurance.
-
The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.
Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.
Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
Order Checks for your Home Equity Line of Credit (HELOC)
You can order checks through this link Order Checks or by calling 800-355-8123. You will need to input your account number and the Central One routing number (211387169). As a security precaution, you will not be able to change the address on the checks and all orders will be sent to the address of record on the account.
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