Jeanne D'Arc Credit Union

Mortgages

Whether you want to buy a new home, refinance the one you’re in, downsize, upsize or custom-build your dream home, Jeanne D’Arc Loan Officers make applying for your mortgage easy and convenient. In fact, they can meet you at a branch near you, your office or your home. Even better, they’ll actually meet you on your schedule, whether it’s during the day, the evening or the weekend.

  • First Mortgages
  • Refinancing
  • First-Time Home Buyer Program
  • Lot & Construction Loans

First Mortgages

Also known as a primary mortgage, a first mortgage is a traditional real estate loan that can either be a conventional loan (up to $417,000) or jumbo loan (over $417,000). It can also be a fixed-rate loan, where the principal and interest payments remain the same over the entire term of the loan, or adjustable. A variable-rate mortgage (also known as an adjustable-rate mortgage, or ARM) offers a fixed rate for an initial period, and then the rate adjusts either up or down, based on the 1 Year Treasury Rate, every year after that initial period ends.

Fixed-rate mortgages are a good option for people who plan to stay put for many years, while adjustable-rate mortgages are generally better for people who move frequently or don’t plan to stay in their home for a long period of time.

Jeanne D’Arc offers both fixed-rate conventional mortgages as well as ARMs with various term options. With both programs, your loan can either be conventional or jumbo.

It sounds complicated, but our mortgage professionals will be happy to talk to you about your needs, discuss your options and find the mortgage product that’s right for you. Contact one of our Loan Officers today to get started.

Refinancing

If you already have a mortgage, refinancing the loan could potentially save you thousands of dollars over the life of the mortgage or make your monthly payments more manageable. That’s the great thing about refinancing—you can do it at any time, assuming it makes good financial sense to do so, and you have several options available to provide you with greater control of your finances.

For example, you can refinance to a different rate, a different term or a combination of both. You can even take cash out at closing based on the total equity you have in your home. Typically, when you refinance to a longer term, your monthly payment may be lower, but you’ll pay more interest over the life of the loan. If you refinance to a shorter term, your monthly payments may actually increase, but you’ll pay the mortgage off sooner and thus, you’ll save money in interest charges. And if you can refinance to a lower rate, you may save a considerable amount of money without changing the term at all.

Jeanne D’Arc offers the same programs for refinancing as we do with First Mortgages. Our Loan Officers will be happy to listen to your goals, then go through the numbers with you to arrive at the best solution for you.

First-Time Home Buyer Program

Through our First-Time Home Buyer Program, Jeanne D’Arc can afford those who are just starting out the opportunity to get into a home with a much lower down payment than most conventional mortgage programs require. And we can do so without having to charge Private Mortgage Insurance (PMI), typically added to the monthly payment if a home buyer puts less than 20% of the purchase price down. Bottom line: With a much lower down payment and no PMI added to the monthly mortgage, first-time buyers can realize the dream of home ownership with Jeanne D’Arc.

We understand that buying a home can be intimidating. That’s why our Loan Officers will be happy to meet with you—at our office, at your office or even at your home, whenever it’s convenient for you. It’s easier than you think, with our team backing you all the way.

Lot & Construction Loans

Lot Loans are a great way to secure that prime piece of real estate—especially if you’re waiting a few years or more to build the home of your dreams on the site. This makes sure that the spot you pick out won’t get snatched up by someone else while you’re getting your plans together to start construction.

And once you get ready to start the building process, a construction loan is the way to go. It provides you with the funds to pay the builder, contractors, suppliers, etc. during the construction process, then converts to a conventional mortgage once construction has been completed.

Let our Loan Officers provide you with the details you need to get started on building the home of your dreams. They’ll be happy to meet you when and where it’s most convenient for you to get the process in motion.

Be sure to ask us about:

  • No cost, no obligation pre-approval. You’ll know how much home you can afford, and you’ll be ready to make an offer when you find the perfect place.
  • Refinancing your current mortgage to a lower rate, shorter term or to take cash out
  • Our First-Time Home Buyer Programs
  • Avoiding Private Mortgage Insurance (PMI) with less than 20% for a down payment
  • Unique Construction Mortgage Loans
  • Loans for members with less-than-perfect credit
  • Mass Save Heat Loans for qualifying energy efficiency improvements in your home
Still Have Questions?
Contact a Jeanne D’Arc Loan Officer at 978-323-4716 to discuss your needs.