Fixed-Rate Mortgages

A flexible, simple, stable mortgage

HELOC

12-month introductory fixed rate as low as 3.99% APR* then an ongoing variable rate as low as Prime minus 0.25%*

Choose a term that works for you

Competitive mortgage interest rates save you more

We'll help you find the home loan that fits best

Advantages of a Fixed-Rate Mortgage

Flexible terms and stable monthly payments make this mortgage a popular option for homebuyers in Baltimore, Maryland and beyond.

  • Down payments of 5% to 20%1 
  • 0.25% rate discount for homes purchased in Baltimore City or first-time home purchases in Baltimore City or Baltimore County2
  • Low closing costs
  • We'll help you find homebuying grants and incentives that provide down payment assistance

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.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Frequently Asked Questions

Quickly and easily estimate your monthly mortgage costs by using our calculator.

When determining a mortgage, first decide how much you can comfortably afford, factoring in:

  • mortgage loan payment (principal and interest)
  • property taxes 
  • insurance
  • any HOA fees
  • miscellaneous funds for maintaining your home

Try our mortgage calculators.

To qualify for an FHA loan, your credit score should be 500 or higher, with verifiable steady income, and a debt-to-income (DTI) ratio usually below 43%. You will also be required to make a down payment of at least 3.5% up to 10%, depending on your credit score. It's best to submit a prequalification request to determine if you meet the requirements for this government-backed loan.

The cost of refinancing your mortgage varies depending on your lender, location, and loan details. Typically, refinancing costs range from 2% to 6% of your total loan amount. Most lenders will allow you to roll the closing costs into the new loan, but you'll pay interest on the closing costs over the life of your loan. Try our mortgage calculators.

Frequently Asked Questions

Quickly and easily estimate your monthly mortgage costs by using our calculator.

When determining a mortgage, first decide how much you can comfortably afford, factoring in:

  • mortgage loan payment (principal and interest)
  • property taxes 
  • insurance
  • any HOA fees
  • miscellaneous funds for maintaining your home

Try our mortgage calculators.

To qualify for an FHA loan, your credit score should be 500 or higher, with verifiable steady income, and a debt-to-income (DTI) ratio usually below 43%. You will also be required to make a down payment of at least 3.5% up to 10%, depending on your credit score. It's best to submit a prequalification request to determine if you meet the requirements for this government-backed loan.

The cost of refinancing your mortgage varies depending on your lender, location, and loan details. Typically, refinancing costs range from 2% to 6% of your total loan amount. Most lenders will allow you to roll the closing costs into the new loan, but you'll pay interest on the closing costs over the life of your loan. Try our mortgage calculators.

Guiding you home with confidence.

Mortgage Calculator
Figure out the total financial impact of homeownership.
Home Loan Rates
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Mortgage Resource Center
All the resources you need, right at your fingertips.
How to Brace for Rising Home Costs
Learn how to mitigate the financial impact on your budget.
Money Market Account
Grow Your Balance with Higher Rates

Earn more on higher balances while keeping your funds accessible.

Take advantage of historically low rates!

1 Private Mortgage Insurance may be required with less than 20% down. Buying Into Baltimore and First-Time Homebuyer rate discounts not available on all loan types, such as FHA loans. Discounts cannot be combined. See rate and payment examples.

2 Buying Into Baltimore and First-Time Homebuyer rate discounts not available on all loan types, such as Federal Housing Association (FHA) loans. Discounts cannot be combined. Certain conditions apply.

Handbook on Adjustable Rate Mortgages
Adjustable Rate Pricing Disclosure
Home Mortgage Disclosure Act (HMDA) Notice

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