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Avadian Credit Union offers a variety of mortgage options to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional 30 Year Fixed
Conventional 15 year Fixed Rate
Conventional 10 year Fixed Rate
FHA 30 Year Fixed Rate
FHA 15 year Fixed Rate
VA 30 Year Fixed Rate
VA 15 Year Fixed Rate
USDA Rural Development 30 Year Fixed
100% Purchase, Avadian Portfolio Loan
7/1 ARM
5/1 ARM

Conventional 30 Year Fixed

These are the most common loan types because, when compared to a shorter term (like a 15-year mortgage), they allow you to have a lower monthly payment on the same loan amount. Financing available for purchase loans up to 97% of the appraised value. For refinance loans you can finance up to 95% of the appraised value. The interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 30 years   Maximum Amount: $510,400

Conventional 15 year Fixed Rate

With a 15-year fixed-rate mortgage, your interest rate will be lower than on a longer-term loan, and you’ll pay less total interest over the life of the loan. More importantly, you’ll build equity and pay off the loan way faster. For purchase loans, you can finance up to 97% of the appraised value. For refinance loans, you can finance up to 95% of the appraised value. The interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 15 years   Maximum Amount: $510,400

Conventional 10 year Fixed Rate

Purchase loans up to 97% of the appraised value. Refinance loans up to 95% of the appraised value. Interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's Insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 10 years  

FHA 30 Year Fixed Rate
An FHA mortgage is provided by an FHA approved lender and backed by the Federal Housing Administration. It is an attractive option for first-time homebuyers, those seeking a smaller down payment option or homeowners who have experienced past credit issues. Typically, FHA mortgages allow for a lower percent down payment and offer numerous credit and guideline enhancements extending home-ownership beyond conventional lending guidelines. Loan Requirements: *No income limits *Flexible underwriting *1-4 Family Financing *660 minimum credit score *Do not have to be first time homebuyers *Active Savings Account in good standing *Homeowner's insurance and taxes required *3.5% minimum investment required and may be from a qualified gift *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers

Term: 30 years   Maximum Amount: $331,760

FHA 15 year Fixed Rate
An FHA mortgage is provided by an FHA approved lender and backed by the Federal Housing Administration. It is an attractive option for first-time homebuyers, those seeking a smaller down payment option or homeowners who have experienced past credit issues. Typically, FHA mortgages allow for a lower percent down payment and offers numerous credit and guideline enhancements extending home-ownership beyond conventional lending guidelines. Loan Requirements: *No income limits *Flexible underwriting *1-4 Family Financing *660 minimum credit score *Do not have to be first time homebuyers *Active Savings Account in good standing *Homeowner's insurance and taxes required *3.5% minimum investment required and may be from a qualified gift *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers

Term: 15 years   Maximum Amount: $331,760

VA 30 Year Fixed Rate
A VA loan is guaranteed by the U.S. Department of Veterans Affairs. These mortgages offer long-term financing to eligible veterans or their surviving spouses. Unlike traditional loans, VA loans don't require private mortgage insurance (PMI), and they usually offer more competitive rates, flexible underwriting, and no income limits. They also offer 100% financing and no minimum investment for qualified loans. Loan Requirements: *No income limits *1-4 Family Financing *Flexible underwriting *Active Savings Account in good standing *Do not have to be first time homebuyers *Homeowner’s insurance and taxes required *100% financing available for loans up to $510,400 *No minimum investment required for loans up to $510,400 *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of 3 open trade lines active for the last 2 years.

Term: 30 years   Maximum Amount: $510,400

VA 15 Year Fixed Rate
A VA loan is guaranteed by the U.S. Department of Veterans Affairs. These mortgages offer long-term financing to eligible veterans or their surviving spouses. Unlike traditional loans, VA loans don't require private mortgage insurance (PMI), and they usually offer more competitive rates, flexible underwriting, and no income limits. They also offer 100% financing and no minimum investment for qualified loans. Loan Requirements: *No income limits *1-4 Family Financing *Flexible underwriting *Active Savings Account in good standing *Do not have to be first time homebuyers *Homeowner’s insurance and taxes required *100% financing available for loans up to $510,400 *No minimum investment required for loans up to $510,400 *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of 3 open trade lines active for the last 2 years.

Term: 15 years   Maximum Amount: $510,400

USDA Rural Development 30 Year Fixed
USDA Rural Development loans are designed to promote homeownership to people in rural communities, even if they have limited income and limited savings for a down payment. The program offers flexible underwriting and zero down payment, although it does have some income limits. Your Loan Originator can provide you more information regarding the income limitations and if the property you are interested in will qualify for this program, please provide the exact home address for the property in order to obtain the most accurate information available. Loan Requirements: *1-4 Family Financing *Flexible underwriting *100% financing available *Active Savings Account in good standing *Do not have to be first time homebuyers *The home must be located in a designated rural area *Loan approval based on creditworthiness, ability to repay, and collateral value *Homeowner insurance and taxes are required to be held in an escrow account by lender *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Must meet USDA adjusted annual household income limits *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of two open trade lines active for at least 12 months

Term: 30 years   Maximum Amount: $510,400

100% Purchase, Avadian Portfolio Loan

Our First-Time Homebuyer Program is designed for buyers like you, offering up to 100% financing and no income restrictions. That means you don't have to worry about making a down payment. Of course, our 100% financing is open to anyone who qualifies, not just first-time buyers. But it is a great way to make that first, critical step in homeownership. This is an Avadian serviced mortgage, available in several loan terms including fixed rate and Adjustable Rate Mortgages.

Loan Requirements: *No income limits *Minimum credit score: Credit Score 680. Maximum debt-to-income ratio: 43%* Active Savings account in good standing *Do not have to be first time homebuyers *Appraisal is typically required *Loan approval based on creditworthiness, ability to repay, and collateral value *Mortgage Insurance is required. *2 months of total payments from member's own funds is required for reserves *Purchases only (no refinances) *Homeowner insurance required *Property type: 1 unit single family attached or detached Owner-occupied (no second homes or investment properties) *Seller Contributions and Concessions - Maximum of 3% based upon the lesser of property sales price or appraised value.

Term: 15 years  

7/1 ARM
If it's right for you, an adjustable-rate mortgage (ARM) can be a great choice. With an adjustable-rate mortgage, the rate stays the same for the first seven years. After that initial period, your mortgage converts to a variable rate that may go up according to changes in the underlying financial index. Your Avadian mortgage will adjust on the anniversary date every year. It can adjust only one time per year and can only adjust by a certain percentage. The details are spelled out in your mortgage agreement, so you'll know what to expect as your rate changes. Interest Rate remains the same for 7 years and then adjusts yearly afterwards. Loan Requirements: *Homeowner’s insurance *Active Savings Account in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value.

Term: 30 years  

5/1 ARM
If it's right for you, an adjustable-rate mortgage (ARM) can be a great choice. With an adjustable-rate mortgage, the rate stays the same for the first five years. After that initial period, your mortgage converts to a variable rate that may go up according to changes in the underlying financial index. Your Avadian mortgage will adjust on the anniversary date every year. It can adjust only one time per year and can only adjust by a certain percentage. The details are spelled out in your mortgage agreement, so you'll know what to expect as your rate changes. Loan Requirements: *Homeowner’s insurance *Active Savings Account in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value.

Term: 30 years  


Unless otherwise indicated, the APR calculations for these products, are based on the following: Conforming loans (whose maximum loan amount is below $510,400 for the contiguous states, District of Columbia, and Puerto Rico or below $679,650 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $453,100 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $453,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $679,650 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $453,100 with closing costs of $9,062. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.