Mortgage Center

Getting the right loan for your home starts here

Apply for a Home Loan with Vocality today. We offer Fixed Rate and Adjustable Rate mortgages up to 30 years. Our mortgage specialists will work with you to find the right home loan for your unique situation. First time home buyers welcome!

Find out how you can become a home owner with as little as 5% down payment.*

First-Time Home Buyer

  • Down payment as little as 5%*

  • Primary residence only

Fixed Rate Mortgages

  • Up to 30-year term

  • Fixed rate will not change

  • Stable monthly payments

Adjustable Rate Mortgages

  • Up to 30-year term

  • Lower starting interest rate

  • Rate adjusts at 3,5,7, or 10 years.

Refinance Your Mortgage

  • Cash out refinance

  • Lower your interest rate

  • Shorten your loan term

What is the difference between a “Fixed-rate” mortgage and an “Adjustable-rate” mortgage?

Fixed-rate mortgage

What is a fixed-rate mortgage?
This type of mortgage locks in the same interest rate for the loans entirety. A fluctuation in your mortgage payment may still occur, such as if your property taxes or insurance premiums increase or decrease.

Why choose a fixed-rate mortgage?
Fixed-rate mortgages allow buyers to lock in a set interest rate for the entire loan, which makes it easier to anticipate and budget for monthly payment amounts.

 

Adjustable-rate mortgage

What is an adjustable-rate mortgage (ARM)?
ARMs typically start with a fixed-rate for a set number of months or years. After the initial period, the interest rate may increase or decrease, and your mortgage payment may increase or decrease as well.

Why choose an ARM?
ARMs typically offer lower initial interest rates, but uncertainty may kick in once the rate is due to change. Buyers sometimes choose ARMs if they plan to sell the house or refinance their mortgage before the rate changes.

You may see terms like “3/1” or “5/1” ARMs. That simply means that the initial interest rate remains the same for the number of years reflected in the first number (3 and 5, respectively), and then the interest rate will adjust once a year for the remainder of the loan.

Applying for a Mortgage online is convenient, fast, and easy! To get started, you will need information about your finances, property, and yourself. You can start the application and save it to finish it later. If you need help or have questions feel free to call us we can help! Under the Mortgage Center you will find a lot of resources to help you determine what is best for you and the application.

Not a member of Vocality Community CU yet? Visit our Enroll Page here to check eligibility to join!

How does a mortgage rate affect your payment?

The more you know about how loans work, the better prepared you will be to make sure your home loan works for you.

These free online lessons will give you the tools you need to make the best decision for your financial situation.

*Primary residences only and must be a first time home buyer. Other restrictions may apply.