Home Mortgage

Fixed Rate Mortgage

• In this type of home mortgage, the interest rate is “fixed” and stays the same for as long as the loan lasts.
• Royal Credit Union offers fixed-rate mortgages for terms of 10, 15, 20, or 30 years.
• A 30-year fixed-rate mortgage is the most popular home loan choice because it offers low monthly payments and a locked-in rate.

Rate and payment are based on a loan amount of $250,000 for the purchase of a single family primary residence.

Adjustable Rate Mortgage

• This type of home loan is sometimes called an ARM, which stands for adjustable-rate mortgage.
• ARM interest rates are tied to the market rate. The interest rate can go up or down during the term of the loan.
• We offer adjustable-rate mortgages with terms of 15, 20, or 30 years. The rate is locked for 10 years, so it is called a 10-year adjustable-rate mortgage even though the actual repayment time is more than 10 years.

Rate and payment are based on a loan amount of $250,000 for the purchase of a single family primary residence.

Home Equity Rates

See today’s HELOC rates below, or learn more on our home equity line of credit page.

Down Payment Assistance Programs

To determine if you might qualify for down payment assistance programs, use the Down Payment Assistance Tool provided by Fannie Mae®. Enter details about the home you plan to purchase and your household to receive a list of down payment assistance programs that you may qualify for at the state and national level. Share your results with your mortgage loan officer at Royal and we can help review loan options. Access the tool at https://yourhome.fanniemae.com/calculators-tools/down-payment-assistance-tool.

$100 First-Time Homebuyer Credit

Royal is offering first-time homebuyers a $100 credit* on their closing costs if they complete an online educational course offered by Fannie Mae®. The course explains a variety of mortgage topics, and the information applies to all home loans. Any first-time homebuyer, even those who don’t qualify for Fannie Mae® loans, can take advantage of this credit with Royal. Register for and complete the self-guided online course at https://www.fanniemae.com/education.

$250 Way-to-Go Rewards For Home Loans

If a Member enrolled in Smart Start Checking is a first-time homebuyer with a Royal Credit Union home mortgage loan and makes their first six payments on or before the due date, Royal will deposit a one-time $250 incentive into their checking account. This incentive is available for first mortgages only. Home Equity Lines of Credit and refinances are not eligible for this incentive.

Royal Makes Buying Your New Home Easy!

Find A Mortgage Loan Expert

• Meet Our Lending Team

Need Help With An Existing Home Loan?

• Continue Your Application
• Check Application Status
• Learn About Managing Your Home Loan
• Learn About Managing Your HELOC
• Learn About Private Mortgage Insurance (PMI)
• Use Our Mortgage Refinancing Calculator 
• Use Our Extra Mortgage Payment Savings Calculator

Who You Gonna Call (After Getting Your Mortgage)