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ALERT
Our Midwood branch located at 1560 Flatbush Avenue in Brooklyn will reopen this Friday, May 31st!

In the meantime, you can securely access your accounts by logging into Digital Banking or visiting any of our other local branches.

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Conventional Mortgages

A Great Mortgage Will Help You Land the Home of Your Dreams.

In the market for a new place to call home? MCU is ready to help, with competitive interest rates and member-friendly lending terms.

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Find a Mortgage That Works for You.

Make your dream home a reality with an MCU mortgage—enjoy flexible loan terms, low-interest rates, and guided support from our team of expert Lending Sales Specialists.

We’re Ready to Help You Get Past Any Homebuying Hurdles.

Whether you’re just starting browsing for real estate in your area or have already picked out your dream home, MCU is ready to help you bring your goals to life.

Our team of Lending Sales Specialists is excited to help you find the right lending option for your unique needs, and ready to answer any questions that pop up along the way.

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Saving for a 20% Down Payment? There’s Another Option.

Say "goodbye" to hefty down payments! Private Mortgage Insurance (PMI) reduces your initial required down payment below the typical 20%, making it easier than ever to say "hello" to homeownership. MCU members may be eligible for an exclusive offer—we cover the monthly PMI costs for you!

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Competitive Fixed-Rate Mortgage Options

No matter the length of your investment, we offer competitive interest rates to support your goals and turn your dream house into a home.

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10-Year Term

Take out a loan over a 10-year term, and lock in rates as low as 5.750% APR*.

Apply Today
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15-Year Term

Take out a loan over a 15-year term, and lock in rates as low as 5.875% APR*.

Apply Today
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20-Year Term

Take out a loan over a 20-year term, and lock in rates as low as 6.000% APR*.

Apply Today
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30-Year Term

Take out a loan over a 30-year term, and lock in rates as low as 6.375% APR*.

Apply Today

Looking for a Different Type of Mortgage?

Finding the right mortgage can be challenging. That’s why we offer our members a variety of mortgage options—all with member-friendly terms, competitive rates, and top-notch support.

Get Expert Support, When You Need It.

Connect with one of our Lending Sales Specialists to receive personalized support with all of your lending needs—just another perk of being a member of the MCU community.
Stephanie Rodriguez
Stephanie Rodriguez

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Taurean Durham
Taurean Durham

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 Arnold Allston
Arnold Allston

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Xiang He Lin
Xiang He Lin

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Sherry Munro
Sherry Munro

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Jerrel Sturrup
Jerrel Sturrup

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Stephanie Fernandez
Stephanie Fernandez

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Gary Cotes
Gary Cotes

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Pedro Lopez
Pedro Lopez

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Carl Gayle
Carl Gayle

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Cesarina Pena
Cesarina Pena

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Michele Palmucci
Michele Palmucci

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Emilio Sosa
Emilio Sosa

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Shantell Wynn
Shantell Wynn

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Sabrina Kilgore
Sabrina Kilgore

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Omar Osoria
Omar Osoria

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Adam Gonda
Adam Gonda

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 Walter Skowronski
Walter Skowronski

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Carlos Raposo
Carlos Raposo

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Warren Irons
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Sean Remy
Sean Remy

Gabrielle Naughton
Gabrielle Naughton

Explore Additional MCU Lending Options.

We work hard to ensure that our community heroes get the financial support they deserve. Whether you're buying a home, a vehicle, or something else, MCU is here to help you along the way.

No Matter Where You Are in Life, We’re Right There with You.

At MCU, we believe that a credit union should be a lifelong source of financial education and support—from planning for college to saving for retirement and everything in between.

That’s why we have specialized recommendations for products and services designed to help you meet your goals (both short-term and down the road), based on your changing needs and priorities.

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Make the Most of Your MCU Membership.

Membership in our community is about more than just banking. As an MCU member, you can access valuable information and resources to help you plan and reach your financial goals.

All about Private Mortgage Insurance (PMI)

Have you heard of PMI? PMI, short for Private Mortgage Insurance, is an insurance policy that helps protect the lender if the borrower can't pay their mortgage. ...

What to Consider Financially As A First-Time Homebuyer

So, you’re ready to buy your first home. Congratulations! For many people, taking this step is one of the biggest financial moves they will make in their entire lives. Because of ...

Mortgages 101: Getting Started on The Path to Homeownership

When you embark on the search for a new home, you may think you know the steps to take: Read the listings, visit some open houses, sign on with a Realtor, make an offer. In fact, ...
FAQs

Get Answers to Our Most Frequently Asked Questions.

Is there a cap on how much I can borrow with a conventional loan?

Yes. A conventional loan will allow you to purchase a home for up to $647,200 in most counties and up to $970,800 in high-cost counties.

What type of documentation do I need for a conventional loan?

When you’re ready to apply for a conventional loan, it’s a good idea to have these documents ready to go:

  • Tax returns
  • Pay stubs, W-2s or other proof of income
  • Bank statements and other assets
  • Credit history report
  • Gift letters
  • Photo ID
  • Renting history
  • Debt history

Can I only buy certain types of homes with a conventional loan?

You are not limited in the types of homes you can buy with a conventional loan. You can buy a single-family house, condo, apartment, etc.—it’s up to you!

What is the primary benefit of conventional loans?

The primary benefit of a conventional loan is its ability to reward borrowers with good-standing credit with a much lower interest rate throughout the loan term.

How much of the down payment do I need for a conventional loan?

You will find that the minimum down payment for a conventional loan is 5%. However, those with lower credit or higher debt-to-income ratios may be required to put down a more significant initial down payment.

Ready to Own the Home of Your Dreams?

Join now to get access to the competitive rates, member-friendly loan products, and educational resources you need to secure an exceptional financial future.

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Disclosure:

*APR = Annual Percentage Rate.

PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE (PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.

Above APRs are based on loan amounts of $280,000. Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply. For more details, see our Rates page.

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