First mortgages

Property must be Owner Occupied, one to four Family. Fees may apply.


Second Mortgages

If you don’t need the flexibility of a line of credit or prefer a fixed rate on your home equity loan, a fixed rate loan a great option to consider. We offer terms up to 20 years at low, fixed rates. With low closing costs and fast turnaround time, we make the process easy!

Second Mortgage loan offers many potential benefits, including:

Tax deductibility

The interest paid on a home equity loan is often tax deductible. Be sure to check with your tax advisor regarding the deductibility of interest.

One low payment

If you currently have many monthly bills, consider consolidating them into a single loan with one easy payment.

Lower interest rate

A home equity loan offers very attractive rates. Savings are often dramatic when consolidating higher-interest credit cards.

Get out of debt faster

If your goal is to get completely out of debt, restructuring your debt with a home equity loan may help. With discipline and patience, you may be surprised at how quickly you can eliminate your debts



Government Mortgages

BMCU is proud to offer our members Federally Secure Mortgage Programs - FHA, VA, Rural Housing, and Reverse Mortgages. Several Options for members looking to purchase or refinance and receive cash out. 96.5% and 100% financing available.

FHA/FHA 203K – 3.5% Down
Purchases or Refinances with lower Fico scores and higher LTV's. Solid fixed rate loans. Also loan rehabilitation on new or current homes.

VA Mortgages – 0% Down
30 Year Fixed Rates 100% Financing No PMI Available on a purchases and 90% ltv cash out.

H.A.R.P. 2.0 Mortgages
Home Affordable Refinance Program (HARP) started in April 2009. It goes by several names. The government calls it Making Home Affordable Plan, the Obama Refi Plan, the DU Refi+ and the Relief Refinance.

How do I know if I'm eligible for HARP 2.0?
If you answer "yes" to all of the following questions, you may be eligible!
- Is your mortgage loan currently owned by either Fannie Mae or Freddie Mac?
- Was your loan sold to Fannie Mae or Freddie Mac prior to June 1, 2009?
- Is your current loan-to-value greater than 80%?
- Is your mortgage up-to-date with all payments made on time in the past 6 months,

  and no more than one late payment in the past 12 months?
- If you are HARP-eligible, you must close on your mortgage prior to January 1, 2014.

Reverse Mortgages
A valuable financial tool for seniors, 62 and older. This mortgage option gives them the opportunity to increase their monthly cash flow so they may live their life to the fullest.

Rural Housing
100% financing on purchases in small suburban/rural areas. No PMI.

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Home Improvement Loans

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Home Equity Loans

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