Low Cost Mortgage Options

Unpack those special moments

Low rates and low-money-down mortgages!

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

Low cost mortgages that can turn a house into your dream home.

Which mortgage option is right for you?

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.

Ready to take the next step? Let's talk.

Get in touch with a home loan expert.

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

Choose the accounts you’d like to compare

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

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.

Don't miss out on your dream home.

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.

Make an Appointment