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From mortgages to home equity lending, our team is here to help get you settled and make your house into a home.

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Interested in building your dream home? 

Learn about the Construction Loan Process

Apply for a Home Loan
Fixed Rate Home Loans

This is the most popular type of home loan because it is easier to budget.

Loan Type
Benefits
Fixed rate home loans have the same interest rate for the life of the loan. Generally, the shorter the term, the lower the rate.
  • Protection from rising interest rates
  • Predictable monthly payments means it's easy to budget
  • Low, affordable interest rates
  • Multiple terms available – 10, 15, 20, and 30 years
  • No initial loan application fees
  • 100% financing options available


FHA Home Loans

The Federal Housing Administration backs qualified loans provided by Northwest Community to promote home ownership to those with limited savings.

Loan Type
Benefits
This loan is good for those who are looking to buy their first home but don’t have a 10% down payment.
  • Low down payment requirement of 3.5%
  • Flexible credit requirements for those working on improving their credit
  • Gifted down payment funds from family are eligible
  • Manufactured homes eligible


VA Home Loans

The Department of Veteran Affairs backs mortgages provided by Northwest Community to qualified military members.

Loan Type
Benefits
A mortgage loan for qualified military members. 
  • No down payment required
  • No monthly mortgage insurance premium
  • Flexible credit requirements for those working on improving their credit
  • Available to qualified Veterans who are looking to purchase or refinance


Adjustable Rate Mortgage Loans

For the first 5 years, the rate will be fixed at a "below market rate" to help you gain buying power. After the fixed period expires, the rate may adjust every 5 years.

Loan Type
Benefits
This loan offers an initial fixed rate and lower closing costs to help those with less, afford more. This is a good loan if you’re looking to purchase or refinance a home with flexible rate options.

  • Low initial rate – this product has a lower fixed rate for the first 5 years
  • Less frequent adjustments – adjusts only once every 5 years
  • Low down payment – only 3% needed which is better than FHA
  • Low closing costs – no origination fee
  • Locally underwritten and serviced – we will not sell these loans
  • Lower mortgage insurance premiums – improve your buying power over a fixed-rate loan
  • Available for Jumbo Financing


Land-Only Loan

This loan is ideal if you want to purchase land and need additional time to complete your home building plans.

Loan Type
Benefits
Short-term lot loan allows you to purchase your dream property while you prepare to build!

Fixed Interest Rate: 6.250%
Fixed APR: 6.704%*
  • Buy with as little as 25% down payment**
  • When you're ready to build, you may be able to use existing equity to roll your existing land loan balance into our One-Time Close construction loan.
  • Interest-only payments


One-Time Close Loan

This loan is best if you're looking for construction and mortgage financing in a single loan transaction. 

Loan Type
Benefits
Construction and permanent financing for your personal residence are combined into one loan with one closing.
  • You have the option to lock in your permanent mortgage interest rate as early as the start of construction of your home
  • Interest-only payments during construction
  • 20% equity required
  • Jumbo, Fixed, and Adjustable Rate Mortgages available


Two-Step Loan

This loan is best for people who have specific borrowing needs that may not fit other loan programs.

Loan Type
Benefits
A separate construction loan is granted for the construction phase of your project. Once your home is completed, the construction loan is refinanced via a separate permanent mortgage.
  • Separate financing during construction with 20% equity required
  • Prequalification for permanent financing required
  • Interest-only payments during construction
  • Quick and easy mortgage application process with mortgage experts ready to serve you
  • Jumbo, Fixed, and Adjustable Rate Mortgages available

*Rates shown are Annual Percentage Rates (APR). Land-only loan assumes $150,000 with interest-only payments and a balloon payment due in 36 months. Rates will vary depending on credit condition, term of loan and payment option. All loans are subject to approval. Regular terms and conditions apply. Rates shown are subject to change without notice. Loan terms available may vary depending on amount borrowed, credit history, or payment method. Rates shown may be based on auto pay participation.  NWCU is an Equal Opportunity Lender.

**Minimum of 25% down payment required. APR Fixed based on $150,000 loan amount.

Call (800) 452-9515 or see branch for details.

Apply for a Home Equity Loan
1st Position Fixed Rate Installment Loan

If you’re looking to refinance your first mortgage with a quick, low-fee process; or if you don’t have an existing mortgage but want to take one-time equity out on your home, this is a good option for you.

Loan Requirement
Features
Members interested in taking one-time equity out of their homes with no existing first mortgage.
  • 30-year term
  • Rates as low as 4.50% APR
  • Fixed-rate loan
  • Monthly payment


2nd Position (Junior Lien) Fixed Rate Installment Loan

If you’d like to take equity out of your home with an existing first mortgage that you’d prefer not to refinance as part of the transaction, this loan is for you.

Loan Requirement
Features
Members interested in taking one-time equity out of their homes without refinancing an existing first mortgage.
  • 20-year term
  • Rates as low as 5.00% APR
  • Fixed-rate loan
  • Monthly payment


1st Position Variable Rate Home Equity Rewards Visa

Our variable-rate home equity line of credit allows you to borrow money, pay it back, and borrow again during the 10-year draw period.

Loan Type
Rate
The 1st Position HELOC is great for members who’d like ongoing access to equity with no existing first mortgage.
As low as 4.50%


2nd Position Variable Rate Home Equity Rewards Visa

Our variable-rate home equity line of credit allows you to borrow money, pay it back, and borrow again during the 10-year draw period.

Loan Type
Rate
The 2nd Position HELOC is great for members who’d like ongoing access to equity and have an existing first mortgage.
As low as 5.00%

Home Equity Disclosures


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