MORTGAGE LOANS
Mortgage Options for Every Stage of Homeownership.
Whether you're buying your first home, making a move, or looking for a mortgage that better fits your financial goals, Community West Credit Union has options to help you get there. From traditional fixed-rate mortgages and zero down payment options to specialized loan programs designed to help you build equity faster, we offer flexible financing to fit your needs. Explore our mortgage options below to find the right fit for you.
Fixed-Rate Mortgage
Move into your forever home at a great rate.
A fixed-rate mortgage allows you to borrow money to purchase a home and then pay it back over a set number of years. Community West offers loan terms from 10-30 years, providing a repayment period that's right for you. The versatility of a fixed-rate mortgage allows you to choose a shorter term to quickly build home equity or a longer term to reduce your payment amount.
A fixed-rate mortgage also ensures consistent monthly payments. Your interest rate won't change over time, although you may choose to refinance your loan to secure a better rate in the future. These loans make budgeting simple because you'll know exactly how much you'll need to pay each month. This also makes fixed-rate loans a great choice for buyers who plan to stay in their home for several years or for anyone seeking a home that their family can grow into over the coming years.
Zero Down Mortgage
Zero. Zilch. Nada. However you say it!
As the name suggests, our zero down mortgage is a home loan that doesn't require a down payment. Typically, a down payment is the first substantial expense in the home buying process. This payment is due at the time of closing on the house, and the amount owed is generally calculated as a percentage of the home's purchase price.
Community West Credit Unions' zero down mortgage is a loan designed with no down payment and no PMI. This budget-friendly option allows potential homebuyers to be more flexible in their search for a new home and enjoy greater peace of mind when it comes to their financial responsibilities.
Zero Down Mortgage Features
At Community West, we provide financial solutions that are tailored to the diverse needs of our members. A home loan with no down payment offers more than just money-saving benefits. Additional advantages of a zero down mortgage include:
- Highly competitive rates
- Fixed rates with multiple terms available
- Reasonable underwriting criteria
- Local decision-making
Community 10 & 15
Two refinance options created with a deep commitment to strengthening our communities. These focused loan terms* offer 10- and 15-year pathways designed to help homeowners build equity faster and reduce long-term interest*. The Community 10 and Community 15 support those who wish to remain in the homes they love while working toward a more secure financial future.
Community 10 & 15 Benefits:
- Pay Less at Closing, Own Your Home Sooner: Enjoy lower closing costs with our new mortgage options, designed to save you money upfront and help you reach full ownership faster! Closing cost savings vary by loan program and borrower. All loans subject to credit approval and property appraisal.
- Faster Path to Ownership: Pay off sooner with shorter-than-traditional terms* and move toward full ownership faster.
- Lower Long-Term Interest Costs*: Reduce total interest over the life of your loan and increase overall savings.
- Build Equity More Quickly: Strengthen your financial position faster.
- Stable, Predictable Payments: Enjoy fixed monthly payments for consistency and peace of mind.
- Refinance Without Restarting the Clock: Move from longer-term loans without extending your payoff timeline.
- Community-Focused Support: Partner with an organization dedicated to reinvesting in our communities.
*Example based on a 10-year fixed-rate mortgage. Monthly payments for a $250,000 loan at 6.25% APR would be $2,802.50 (principal and interest only). Example based on a 15-year fixed-rate mortgage. Monthly payments for a $250,000 loan at 6.25% APR would be $2,139.25 (principal and interest only). Payments do not include taxes and insurance premiums, and the actual payment obligation will be greater. Subject to credit approval. The rate may vary depending on each individual’s credit history and underwriting factors. Programs, rates, terms, and conditions subject to change without notice. Other loan terms available.
Helpful Links
Mortgage Department:
616.261.5657 (option 2)
MortageTeam@communitywestcu.org
NMLS # 691882
Note: email is not a secure communication medium, and users should not submit confidential information via email.