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Today's Mortgage rates as low as:

Updated: 11/13/19

30 Year Fixed

4.000% Rate

4.202% APR

Estimated Payment: $484.12

15 Year Fixed

3.500% Rate

3.777% APR

Estimated Payment: $728.67

30 Year FHA

3.625% Rate

4.525% APR

Estimated Payment: $449.21

HomeReady: 1st Time Home Buyer

3.750% Rate

3.934% APR

Estimated Payment: $457.04

All rates provided are with no points. Rates are subject to change without notice and are not locked in until confirmed by your loan officer. APR is based on loan amount and credit tier and may be different than shown. Estimated payment is based on $100,000 loan amount, excellent credit, and includes principle and interest. Property taxes, homeowners insurance, and mortgage insurance are not included in estimated payment. Additional programs are available. Rates quoted are for primary residences. Not all applicants will qualify for published rates.

Contact CTCU at 847-662-2050 x296 for further details.

By submitting an online application you are authorizing credit to be pulled on each borrower

Community Trust Credit Union offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Fixed Rate Mortgages
Home Ready - 1st Time Home Buyer
FHA Financing
Veteran Affairs
Adjustable Rate Mortgages (ARM's)
Relief Refinance Loans - HARP

Fixed Rate Mortgages

A fixed rate mortgage is a loan that has a fixed interest rate for the entire term of the loan. The distinguishing factor of a fixed-rate mortgage is that the interest rate over every time period of the mortgage is known at the time the mortgage is originated. The benefit of a fixed-rate mortgage is that the homeowner will not have to contend with varying loan payment amounts that fluctuate with interest rate movements. There is typically a tradeoff when it comes to choosing a mortgage between risk and reward, or between an adjustable-rate mortgage and a fixed-rate mortgage. Depending on market conditions (the shape of the yield curve), an adjustable-rate mortgage might have a large initial payment advantage over a fixed-rate mortgage. However, if such a scenario exists, there is a probability that the payments on the adjustable-rate mortgage will rise over time. Mortgage borrowers need to understand and measure risks when deciding between an adjustable-rate and fixed-rate mortgage. Below is an example of a 30 year rate and APR. Rates change daily, see associate for details.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.75%4%1%
4%4.168%0%
 

We offer 30, 20, 15 and 10 year fixed rate mortgages. Please contact centralized lending for additional details.


Home Ready - 1st Time Home Buyer
The Fannie Mae Home Ready program allows the home buyer to purchase a home with a little as 3% down and a reduced Private Mortgage Insurance (PMI). This program also allows the down payment to be a gift from a relative, a grant from a government entity, or your own saved funds. A homeownership counseling class (online) is required for this program.

Term: 30 years   Maximum Amount: $453,100
RatesAPRPointsPayment
4.25%4.421%0%$491.94

FHA Financing

Contact the Credit Union for details.  

Term: 30 years   Maximum Amount: $400,000
RatesAPRPointsPayment
3.875%4.17%1.5%$479.62

Veteran Affairs
VA helps Servicemembers, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.

Term: 30 years   Maximum Amount: $4

Adjustable Rate Mortgages (ARM's)

An adjustable rate mortgage is a type of loan in which the interest rate paid on the outstanding balance varies according to a specific benchmark. The initial interest rate is normally fixed for a period of time after which it is reset periodically, often every month or annually. The interest rate paid by the borrower will be based on a benchmark plus an additional spread, called an ARM margin. Both 5/1 and 7/1 mortgages are examples of ARMs. A 5/1 mortgage's initial interest rate is fixed for a period of 5 years and then resets to a floating rate for the remaining 25 years of the mortgage (adjusting annually on the anniversary date). A 7/1 mortgage is typically the same as a 5/1 mortgage, except that the interest rate is fixed for 7 years and then floats for the remaining 23 years of the mortgage.

Term: 30 years   Maximum Amount: $417,000

Relief Refinance Loans - HARP

This type of loan is available for those members that are currently underwater on their loan. Underwater means that you owe more than the home is worth. Currently, loans with a maximum Loan to Value of up to 125% are eligible. Also, in order to take part in this program your loan must be serviced by Freddie Mac or Fannie Mae and originated before June of 2009. If you meet these criteria or do not know if you qualify, please contact the credit union for more information.  Below is an example of a 30 year HARP rate and APR. Rates change daily, see associate for details.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
4.5%4.673%0%
 

 Available in 15 and 30 year fixed terms.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.

Staff

Jeff Dempski

Vice President of Lending

jeff.dempski@ctcu.org

 

Lisa Cooper

Mortgage Specialist

lisa.cooper@ctcu.org