Mortgage Loans
Alden Credit Union offers mortgage financing options for eligible borrowers, including loans for the purchase, refinance, or construction of residential properties.
Programs, terms, and eligibility requirements vary based on individual qualifications and applicable lending criteria.
For additional information regarding available mortgage options, please contact Alden Credit Union directly or visit one of our office locations.
Phone: 413-536-0475
NMLS #690881
Home Financing Calculators
- Should I refinance?
- Should I rent or buy?
- How much will I save by increasing my mortgage payment?
- How much mortgage might I qualify for?
For current fixed-rate mortgage rates, please call 413-536-0475.
| Loan Type | Initial/Annual/Life Rate Change Caps | Margin/Index | Interest Rate | APR | Payment per $1000 |
|---|---|---|---|---|---|
| 5/5 ARM No Boundary PLUS
The rate and Annual Percentage Rate (APR) is based on a 30 year term, $100,000.00 mortgage, 15 days prepaid interest, owner occupied, 1-4 family properties and up to 90% of home value with no private mortgage insurance required. Purchases and Refinances are allowed – cash-out refinance allowed. |
2%/2%/6% | 2.875% | 4.990% | 6.376% | $5.36 |
| 5/1 ARM | 2%/2%/6% | 2.875% | 5.500% | 6.585% | $5.68 |
| 7/1 ARM | 2%/2%/6% | 2.875% | 5.750% | 6.537% | $5.84 |
| 5/1 ARM First Time Homebuyer
****Contact Alden Credit Union for more information on our First Time Homebuyer Program |
2%/2%/6% | 2.875% | 5.500% | 6.585% | $5.68 |
Adjustable-Rate Mortgage (ARM) Disclosure
The interest rates and Annual Percentage Rates (APR) shown above are based on the initial rate period and may adjust after consummation.
For example:
- A 5/1 ARM has an initial fixed rate of 5.500% for the first 60 months, after which the rate adjusts annually based on the index and margin (currently 2.875% margin).
- A 7/1 ARM has an initial fixed rate of 5.750% for the first 84 months, after which the rate adjusts annually.
- A 5/5 ARM has an initial fixed rate of 4.990% for the first 60 months, with adjustments every 5 years thereafter.
After the initial fixed-rate period, the interest rate will adjust based on the index and margin and may increase or decrease, subject to the rate caps disclosed above (2% initial adjustment, 2% periodic adjustment, and 6% lifetime cap).
Monthly payment amounts are based on the initial rate and may increase after the first adjustment period.
Additional Mortgage Disclosures
Rates are subject to change at any time and may increase.
Rates and APRs are based on a $100,000 loan, 30-year term, 20% equity/down payment, and 15 days prepaid interest for purchase and refinance transactions.
Loans are available for owner-occupied 1–4 family properties.
Loans with loan-to-value ratios greater than 80% require Private Mortgage Insurance (PMI). Cash-out refinances are not permitted above 80% loan-to-value for ARM products.
APR = Annual Percentage Rate.
Payments do not include taxes or insurance. Actual payments may be higher.
APR: Annual percentage rate