Low cost mortgage that can turn a house into your dream home.
Our home loan experts will guide you through the homebuying process. Our special offers, low mortgage rates, and low-money-down mortgages can get you in your first home for less.
Competitive mortgage interest rates that save you more
Buy Into Baltimore, Maryland and receive a 0.25% rate discount1
First-time homebuyer program with incentives and grants
Which mortgage option is right for you?
| Federal Housing Administration (FHA) Loans | Fixed-Rate Mortgages | Adjustable-Rate Mortgages (ARMs) |
|---|---|---|
| More lenient income and credit requirements | Choose a term that works for you | Choose from 3/1, 5/1, 7/1 or 10/1 ARMs |
| Put as little as 3.5% down2 | Down payments of 5% to 20%2 | Down payments of 5% to 20%2 |
| Up to 100% of your down payment can be a gift from a family member or friend | 0.25% rate discount for all first-time homebuyers or Baltimore City home purchases1 | 0.25% rate discount for all first-time homebuyers or Baltimore City home purchases1 |
| Learn More | Learn More | Learn More |
HomeReady® Mortgage Loan
Fannie Mae’s HomeReady Program is a government backed loan designed for creditworthy borrowers with low to moderate incomes.
- 3% down payments for home purchases2
- Can be used for the down payment and closing costs with no minimum contribution required from the borrower's own funds (1-unit)
- The online Framework® course prepares borrowers for homeownership
Banking with MECU Credit Union in Maryland means belonging to a local financial institution that invests in the Baltimore community and offers competitive rates on mortgage loans and other home lending products.
Disclosures
1 Buying Into Baltimore and First-Time Home Buyer rate discounts not available on all loan types. Discounts cannot be combined.2 Private Mortgage Insurance may be required depending on loan program.