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Home Town Credit Union offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional Fixed Rate
FHA (Federal Housing Administration)
Rural Development
VA (Veterans Administration)
ARM (Adjustable Rate Mortgage)

Conventional Fixed Rate

This mortgage is a contract between the lender and the borrower. The lender holds the borrower’s property as security for the term of the loan.  This mortgage is not insured by any federally insured program,  however, it may be insured with private mortgage insurance.  A down payment is required and the interest rate on this loan stays the same for as long as you hold your mortgage.

Term: 30 years   Maximum Amount: $417,000

FHA (Federal Housing Administration)

FHA loans are mortgages issued by the U.S. Department of Housing and Urban Development (HUD). FHA mortgage loans generally require less of a down payment and have less stringent qualification requirements than conventional loans. Any borrower of legal age is eligible to apply for a FHA mortgage loan regardless of income level, including non U.S. citizens. However, FHA does limit the maximum amount an individual can borrow under the program based on the location of the property. If you are looking for a loan that requires less of a down payment, you should compare both Conventional & FHA loan types to determine which financing type is best for you.

Term: 30 years  

Rural Development

Rural Development is a federal program designated for the purchase of homes in specific communities. Special features of this program include no required down payment and limited mortgage insurance costs. The maximum amount an individual can borrow under the program is based on the location of the property and borrower's household income.



VA (Veterans Administration)

This federal agency will guarantee the mortgages offered by private lenders to qualified members of the armed forces, active military personnel, veterans or their widows. In some cases, one can buy a home on a VA loan with no down payment.


ARM (Adjustable Rate Mortgage)

The initial interest rate on our adjustable-rate mortgage (ARM) is generally lower than that for a fixed-rate loan, however, with an ARM, the interest rate may increase or decrease in the future, and the size of your payment will go up or down along with the rate.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 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 $424,100 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.