Mortgage & Home Equity Loans
Our Home Loan specialists will work closely with you to determine which mortgage product is the best solution for your needs.
We offer a variety of options with affordable fixed or variable rates and flexible terms. Feel free to access our mortgage calculators to help you budget and shop. To learn more about our Mortgage Products and Rates click here.
APPLY for any of our MORTGAGE LOANS
If you are looking for a new home, New Horizons Credit Union makes financing your dream home easy with competitive rates and flexible financing options. New Horizons Credit Union offers fixed or variable rates, and we ensure ease in managing your mortgage from beginning to closing. For as little as 5% down, we have a mortgage product for you!
Your financial profile is unlike any one else's just like your needs, plans, and preferences. Knowing how to match our mortgage loan options to your personal profile is our business. Please check with us if you are mortgage shopping to get pre-qualified for a mortgage. Getting pre-qualified helps you know how much house you can comfortably afford and can save you time shopping and negotiating your best offer.
New Horizons Credit Union finances homes located in certain areas within the states of Alabama, Florida and Mississippi. To find out if your address falls within the areas, please call our Mortgage Center direct at (251) 259-5767, email our Mortgage Center and one of our Mortgage Team members will be happy to assist, or stop by one of our convenient locations.
New Horizons Credit Union offers:
- A variety of home loan options with affordable interest rates
- Easy to use online loan application
- Access to free mortgage payment calculators, which should help give you a better understanding of your budget and how much you can afford
**New Mortgage Products** (Click on each link below to learn more):
- Conventional 30 year Mortgage
- VA (Must be VA eligible)
- FHA Loans
- USDA Loans
- Home Ready by Fannie Mae (Must take Framework Home Buyer Education.)
- 97% Fannie Mae (First Time Home Buyer)
Non-Conforming Home Loans
- Fixed rate (15, 20, & 30 year)
- Variable rate (30 year)
- Competitive rates
- Low closing costs - no points, low origination fee
Undeveloped Property Loans
Finance options: 75% of selling price or appraised price (whichever is less), low closing costs, fixed rate up to 10 years.
For a Free Consumer Home Loan Resource Tool to help you with your Home Loan Decision, click: My Home Loan Toolkit.
APPLY for any of our MORTGAGE LOANS
Home Equity Loan products to fit your needs:
If you own a home and need to borrow on your home, consider these options:
Home Equity Loan (Fixed Rate)
As low as 4.00% APR* for up to 60 Months
Need a lump sum to make some home repairs or to pay off debt? Use the equity in your home to secure a Home Equity Loan. Depending on your tax situation, a Home Equity Loan may be tax deferred, but always first consult with your tax adviser. New Horizons Credit Union may finance up to 100% of appraised value (less existing mortgage/liens), no application fee, low origination fee, and low fixed interest rates. Other rates and terms are available and are based on an evaluations of applicant's credit and may vary. Maximum annual percentage rate shall not exceed 18.00% APR*. Rates subject to change without notice.Other conditions and restrictions may apply.
||Up to 80% LTV APR* as low as||Up to 90% LTV APR* as low as||Up to 100% LTV APR* as low as|
|5-year Fixed HE||4.00% APR*||4.75% APR*||5.25% APR*|
|6-9 yr. Fixed Rate HE||4.75% APR*||5.50% APR*||5.75% APR*|
|10-yr. Fixed Rate HE||5.00% APR*||5.75% APR*||6.25% APR*|
|15-yr. Fixed Rate HE||5.25% APR*||6.00% APR*||6.75% APR*|
Home Equity Line of Credit (HELOC)2.99% APR* for up to 90 days then reverts to standard rate
Need a line of credit with those home improvements or to have funds available for "just in case" emergencies? Our Home Equity Line of Credit may be the answer. You can use the approved funds as you need to with flexibility.
Our HELOCs are at 2.99% APR for 90 days then reverts to standard rate. Minimum line of credit is $10,000 and maximum amount is $400,000. $1,000 minimum advance requirement. New Horizons may finance up to 100% of appraised value (less existing mortgage/liens). All HELOC costs will be paid by the Credit Union with the exception of the appraisal. All rates and terms subject to change. Contact an NHCU Loan Officer for posted standard rate information. For variable HELOC, the maximum annual percentage rate shall not exceed 18.00% APR*. All loans subject to credit approval. Rates subject to change. Contact the Credit Union at 251-259-5767 or click on contact us and ask to be directed to our Mortgage Center Opens a New Window. for further details on our Home Equity products and other Mortgage products.
To apply for a Home Equity Loan, Home Equity Line of Credit, please click on the button below.
For Loan Disputes and Inquiries please write to:
ATTN: Disputes and Inquiries
New Horizons Credit Union
P.O. Box 1785
Mobile, AL 36633
NMLS# 410405 NHCU Mortgage Loan Officers and National Mortgage Licensing System Unique Identifiers. *APR - Annual Percentage Rate. Taxes and insurance will vary depending on loan type and may cause your payment to be higher. ***For variable HELOC, the maximum annual percentage rate shall not exceed 18.00% APR*. All loans subject to credit approval. Rates are subject to change.