Buying a home is a substantial investment, and future homeowners have a number of options for financing their purchase. Among the most popular, fixed-rate mortgages provide an easy way to balance payments over time while building equity in your new home. To learn more about fixed-rate mortgages and all the other home loan products offered at Community West Credit Union, stop by one of our six locations today.
What Is a Fixed-Rate Mortgage Loan?
Fixed-rate mortgages allow you to borrow money to purchase a home and pay it back over a set number of years with a low down payment. Community West Credit Union offers several term options from 10 to 30 years, making it easy to choose the repayment period that’s right for you. This offers quite a bit of versatility, so you can choose a shorter term to quickly build home equity or a longer term to reduce payments.
Fixed-rate mortgage loans also ensure consistent monthly payments. Your interest rate won’t change over time, although you may choose to refinance 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 every month. This also makes fixed-rate loans a great choice for buyers who plan to stay in their home for at least several years, as well as for anyone seeking a home their family can grow in over time.
Financing Your Home with CWCU
As a credit union welcoming anyone who lives, works, studies or worships in Allegan, Barry, Ionia, Kent and Ottawa Counties, Community West Credit Union is committed to making the path to homeownership straightforward and simple. You can use our online mortgage calculator to estimate your monthly payment at various interest rates and terms or chat with a representative for additional information.
Best of all, when you choose a mortgage from our credit union, you’ll be working with community members who are committed to helping you achieve your financial goals. In addition to fixed-rate mortgages, we offer a number of home loan products, including mortgage refinancing and:
- Construction loans
- Home equity loans
- Mortgage retirement loans
Take the first step toward homeownership – apply online for a fixed-rate mortgage from Community West Credit Union. For more information, contact us today by calling 616-261-5657 or visiting one of our branches in Comstock Park, Grandville, Hudsonville, Kentwood, Middleville or Rockford.
Mortgage Department Information
NMLS # 691882