An adjustable rate mortgage offers the flexibility of a fixed rate for the first 3 or 5 years and then the rate can adjust. This allows you to have a lower interest rate than a fixed rate mortgage. An adjustable rate mortgage can be a great option if you are only going to be in a home for a short period of time or if you are looking to have a lower payment up-front.

Designed for credit-worthy, low-to-moderate income borrowers looking to purchase a home. This mortgage loan allows for as little as a 3% down payment that includes a flexible source of funds for closing costs such as gifts and grants. Fixed terms for up to 30 years are available.

An FHA loan gives the borrower multiple benefits, such as low down payments (as little as 3.5%), low closing costs, low rates, and an easy qualifying process. Popular with young professionals and first-time home buyers, FHA mortgage loans allow the borrower to get the funds necessary to close from several sources. They include such areas as personal savings, gifts, grants, loans from retirement accounts and seller contributions.

Homeowners often dread refinancing a mortgage because of two words: closing costs. That’s why we keep both our mortgage refinance interest rates and closing costs surprisingly low. Whether you want to lower your monthly payment or just build equity faster by shortening your loan term, a hassle-free Ohio Catholic FCU mortgage refinance is at your door!