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HomeReady® Mortgage Loans

Helps credit-worthy low-income borrowers become homeowners.

A program through Fannie Mae that helps our lenders work with credit-worthy low-income borrowers. A HomeReady loan can provide affordable homeownership opportunities to those who may not qualify for conventional mortgage loans. Work with your local mortgage loan officer to see if you qualify.
Fannie Mae Website

Excited about their new home
 
 

Low Down Payment

A borrower's down payment can be as low as 3% for a home purchase or refinance transactions. This is especially beneficial for first-time home buyers.

Flexible Funding

Cash for down payment or closing costs can come from multiple sources, including gifts, grants, or other. There is no minimum amount required for personal funds.

Competitive Pricing

Interest rates are typically equal to or better than Fannie Mae's standard loan pricing. Ask your mortgage lender about current rates.

 
 

 

Mortgage Loan Calculator

Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.

Loan Amount:
Annual Interest Rate:
Loan term:
Annual Real EstateTaxes:
Annual Homeowners Insurance:
Monthly Private Mortgage Insurance:
Monthly Principal and Interest Payment:
Monthly Tax, Insurance and PMI payment:
Total Monthly Payment:

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment
 
 

HELPFUL TIP

Meeting with a mortgage lender about your loan options is a great idea. They can help recommend the best loan for your situation and future.

Apply for a mortgage loan today!

We’re ready to help finance your perfect home with your perfect mortgage.

Apply Now

Mortgage Programs

Check out some of the mortgage loan options available with CMCU:

BUYING A
HOME HUB


Go to the mortgage homepage to learn more about the process.

CONVENTIONAL
MORTGAGE


Traditional mortgage loans with fixed rates throughout the term of the loan.

ADJUSTABLE-RATE
MORTGAGE (ARM)


Mortgage Loans with variable interest rates which may fluctuate payments.

FIRST-TIME
HOME BUYERS


Learn more about purchasing your first home and your options available.

LAND
LOANS


Loans are available for the purchase of property such as for hunting or investment.

FHA
LOANS


Funds are available from the Federal Housing Administration to low-moderate income families.

RURAL
DEVELOPMENT


A program for low and moderate income families living in rural areas.


VETERANS
AFFAIRS (VA)


A VA loan helps provide home financing for eligible Servicemembers, Veterans, and surviving spouses.

Membership

Not a Member? Join us today!

  •  Wide variety of products
  • 21 convenient branch locations.
  •  Online and mobile banking
  •  24,000 ATM locations nationwide
  •  Online Bill Pay and eStatements
  •  Low interest rates on loans
  •  High interest rates on savings
  •  Low cost or free checking

become a member

Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.

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