Mortgages

Couple standing outside new home.

Mortgage options designed for you!

Whether you're a first time home buyer or an experienced owner, we have financing options that can be tailored for your unique situation.

Want more savings?

**Central Advantage members receive special rates and benefits* on primary residence purchases such as:**

• Reduced adjustable rates

• Low fixed rates on jumbo loans

• First time home buyers can receive 1 point fixed rate without having to pay the point

• $500 Home Depot gift card after closing for first time home buyers

Click to learn more about Central Advantage

Adjustable Rate Mortgages

Most first time home owners 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. After the first 10 years, the rate 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.

Current ARM Rates - including Jumbo Rates*

ARM	Loan to Value	Rate	APR	Est. Payment
10/5 ARM	≤ 75%	4.125 %	4.438 %	Calculate
Additional Information
The 10/5 Adjustable Rate Mortgage offers a fixed APR of 4.438 % 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 Begin the Application Process
	> 75%	4.375 %	4.684 %	Calculate
Additional Information
The 10/5 Adjustable Rate Mortgage offers a fixed APR of 4.684 % 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 Begin the Application Process
5/1 ARM	≤ 75%	3.875 %	4.463 %	Calculate
Additional Information
The 5/1 Adjustable Rate Mortgage offers a fixed APR of 4.463 % for the first 5 years then adjusts to a new rate every 1 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 Begin the Application Process
	> 75%	4.125 %	4.708 %	Calculate
Additional Information
The 5/1 Adjustable Rate Mortgage offers a fixed APR of 4.708 % for the first 5 years then adjusts to a new rate every 1 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 Begin the Application Process
3/3 ARM	≤ 75%	3.625 %	4.707 %	Calculate
Additional Information
The 3/3 Adjustable Rate Mortgage offers a fixed APR of 4.707 % 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 Begin the Application Process
	> 75%	3.875 %	4.952 %	Calculate
Additional Information
The 3/3 Adjustable Rate Mortgage offers a fixed APR of 4.952 % 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 Begin the Application Process
1/1 ARM	≤ 75%	3.375 %	4.665 %	Calculate
Additional Information
The 1/1 Adjustable Rate Mortgage offers a fixed APR of 4.665 % for the first 1 years then adjusts to a new rate every 1 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 Begin the Application Process
	> 75%	3.625 %	4.912 %	Calculate

Best for:

First time home buyers
Those planning to live in their new home for 10 years or less
Those wanting a lower downpayment and lower closing costs

Benefits of a 10/5 ARM

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 checking account
Terms of up to 30 years

Suggested Calculators

Want to reduce the upfront cost of your home purchase?

Shop with one of these local realtors and save $500 on your closing costs!***
If you live in certain counties, Central One will cover a portion of your closing costs if you put a "Financed by Central One" sign in your yard. Ask a lending representative for more information.
First time home buyers can plan ahead with the Future Focus Home Savings Plan and receive 1% of the loan value back as a credit towards closing costs. Click for details!

Apply Now Check Submitted Application Status or call a Mortgage Specialist at 800-527-1017.

Fixed Rate Mortgages

Are you looking for your forever home? Do you want peace of mind knowing that your mortgage rate will stay fixed for the life of the loan? Then a fixed rate mortgage is right for you!

Current Fixed Rates (Jumbo Rates* Available - primary residence purchases only)

Fixed Term	Points	Rate	APR	Est. Payment
7 Year	0	3.625 %	3.668 %	Calculate
	1	3.500 %	3.838 %	Calculate
	2	3.375 %	4.010 %	Calculate
	No Closing Costs**	4.500 %	4.500 %	Calculate
10 Year	0	3.875 %	3.906 %	Calculate
	1	3.750 %	3.993 %	Calculate
	2	3.625 %	4.083 %	Calculate
	No Closing Costs**	4.500 %	4.50 %	Calculate
12 Year	0	3.875 %	3.901 %	Calculate
	1	3.750 %	3.579 %	Calculate
	2	3.625 %	4.013 %	Calculate
	No Closing Costs**	4.500 %	4.50 %	Calculate
15 Year	0	4.000 %	4.022 %	Calculate
	1	3.875 %	4.044 %	Calculate
	2	3.750 %	4.068 %	Calculate
	No Closing Costs**	4.500 %	4.50 %	Calculate
20 Year	0	4.375 %	4.392 %	Calculate
	1	4.250 %	4.384 %	Calculate
	2	4.125 %	4.376 %	Calculate
	No Closing Costs**	4.625 %	4.625 %	Calculate
30 Year	0	4.500 %	4.513 %	Calculate
	1	4.375 %	4.473 %	Calculate
	2	4.250 %	4.433 %	Calculate
	No Closing Costs**	4.875 %	4.875 %	Calculate

Best for:

Forever homes
Those planning to live in their home for 10 years or more

Benefits of a Fixed Rate Mortgage

Peace of mind knowing your rate will never go up
As little as 5% down for qualified applicants
No prepayment penalties
Terms of up to 30 years

Suggested Calculators

Want to reduce the upfront cost of your home purchase?

Shop with one of these local realtors and save $500 on your closing costs!***
If you live in certain counties, Central One will cover a portion of your closing costs if you put a "Financed by Central One" sign in your yard. Ask a lending representative for more information.

Want to reduce your APR?

Purchase points to reduce your rate and payments.

Apply Now Check Submitted Application Status or call a Mortgage Specialist at 800-527-1017.

Construction Blueprints

Construction and Renovation Loans

If you are planning to build or renovate a home, Central One has an option to meet your construction and renovation needs.

Monthly interest-only payments during the construction period
Up to 6 months construction period to allow ample time for your project
Loan terms of up to 30 years
Construction loans automatically convert to an ARM (Adjustable Rate Mortgage) at the end of the construction period
Only one loan closing, saving you closing costs and headaches
Financing available for one or two-family owner-occupied homes, second homes or vacation homes

Apply Now Check Submitted Application Status or call a Mortgage Specialist at 800-527-1017.

Land Loans

A Land Loan allows you to purchase land for the future construction of your home.

Features:

Competitive rate
Term of up to 15 years on a fixed rate
Term of up to 20 year on an adjustable rate
Down payment of 25% is required

Land has to qualify as a buildable lot which means it should meet town zoning requirements and if private sewage is necessary, it should have an approved septic design.

* Benefits that include jumbo fixed rates and m ortgage rate reduction: Requirements : In addition to maintaining all other membership and Central Advantage 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. Please contact a lending specialist at 800-527-1017 for additional information.

**No Closing Cost program has a minimum loan amount of $125,000. Available on owner-occupied homes only. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. mortgages

*** $500 savings for using one of the local realtors may not be combined with our no-closing-cost program or other Central One Federal Credit Union programs.

Looking for Reverse Mortgages? Click Here.

Looking for the MyChoice Mortgage Refi Program? Click here.