Let us help make your dreams a reality.
Buying a home is one of the biggest financial decisions you’ll make in your lifetime. At HUECU, we pride ourselves on making the mortgage process as straightforward and hassle free as possible. Whether you’re purchasing a new house or refinancing an existing loan, our loan experts will help find the solution that’s right for you.
Estimate Your Closing Costs
To get your personalized closing costs estimate follow these instructions:
- Click here and input your loan details
- Click on “Get Quotes”
- The following page will display all Loan Types and Terms, select the product and terms you are interested in and click “View” under the Details column (the far right option)
- The content will display your closing cost fees, you can click on the “+” to expand each section for details.
Please Note: First Time Home Buyers should subtract $500 from the total.
How it works:
- Interest rate stays the same over the life of the loan
- Monthly principal and interest payments remain constant
- Flexible terms: 10, 15, 20 and 30 year terms available
- Someone who plans to live in their house for a long time
- Someone who wants the certainty of a fixed monthly payment
How it works:
- Interest rate is locked in for a set period of time, after which rates fluctuate depending upon the index and margin
- Lower mortgage payments during initial fixed term
- Flexible terms: 3, 5, 7, 10-year adjustment periods available
- No Annual Fees, No Pre-Payment Penalties: additional mortgage closing cost discounts are available with certain HUECU checking accounts1
- Someone who doesn’t plan on owning their home for a long period of time
- Someone who wants lower initial monthly payments than a fixed-rate loan provides
First-Time Home Buyer Program
At HUECU, First-Time Home Buyers receive the following benefits:
- .125% rate discount1
- FREE Pre-Approval good for 90 days
- $500 credit towards closing costs2
- Additional $500 credit if you meet HUD income limits3
- $25 bonus for attending an HUECU home buying workshop4
- Reduced Lender Attorney fee ($150 value)
- Support 7 days a week, including weekends
Jumbo Mortgages are available and designed to fit someone who has larger borrowing needs. Loan amounts to $2 million at a maximum loan-to-value of 80%.
FHL Equity Builder Program
What is it?
The Credit Union is proud to offer mortgages in conjunction with the Federal Home Loan Bank (FHLB) of Boston’s Equity Builder Program (EBP). This need-based program offers grants which are used to provide home loans to lower-income families. Benefits include assistance with down payments, closing costs, home-buyer counseling and various other services.
The Federal Home Loan Bank System helps to strengthen communities through their support of community-based financial institutions. The System also directly benefits consumers by helping to ensure competition in the housing-finance market.
More information on the EBP Program can be found at www.fhlbboston.com.
How does it work?
HUECU has been approved for a grant of $110,000 for use within the EBP program. Members who wish to take advantage of the program will apply through the HUECU Online Mortgage Application. Any applications received from income-eligible members will be considered for EBP funding. Approved applicants will receive up to $11,000 in EBP assistance. The funds are awarded on a first-come, first-served basis and are not guaranteed or reserved in advance for any participants.
Who is eligible?
Individuals and households earning no more than 80 percent of the area median income (based on their future address) are eligible to receive assistance through the EBP. EBP assistance can only be used to purchase a primary residence. To be eligible to receive assistance through the EBP, buyers must also attend a home buying counseling program from an authorized counseling agency. Once a buyer’s grant request is approved, HUECU will provide a list of these agencies.
Subject to credit approval.
1. Must be owner occupied property, Home Ready product is not eligible for discount. 2. Credit does not apply to No point no closing cost program. 3. Low income limits set by most recent data available at Huduser.gov. 4. Must be registered prior to attending event to receive the bonus. $25 bonus will be deposited into HUECU share savings account within 30 days of attending the event. One per household. If not a current HUECU member, you must establish your account within 30 days of attended workshop to receive the bonus.