
Types of Home Loans
Buying a house is one of the most important decisions you’ll ever make. We’re happy to help you with your first or next home loan! We offer a variety of options, with flexible terms and very competitive rates.
We can even help you get pre-approved so you know exactly how much home you can buy.*
*Not all applicants will qualify
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Home Equity Loans
If you need funds to cover unexpected or major expenses — from home repairs to medical emergencies — look no further than the equity built in your home.
Let Northwoods CU turn it into a loan for anything you need. We make it easy with competitive rates, flexible terms, and quick local decisions for fast results.
- Use your home equity to get the funds you need
- Competitive rates
- Flexible terms and affordable payments
- Local decision-making
- Professional, friendly service from people you know
- Interest typically tax deductible*
- Take steps to protect you and your family in case something unforeseen happens with Debt Protection
*Ask a tax advisor
Home Equity Loan Line of Credit
If you need funds to cover unexpected or major expenses — from home repairs to medical emergencies — look no further than the equity built in your home.
Let Northwoods CU turn it into a loan for anything you need. We make it easy with competitive rates, flexible terms, and quick local decisions for fast results.
- Use your home equity to get the funds you need
- Competitive rates
- Flexible terms and affordable payments
- Local decision-making
- Professional, friendly service from people you know
- Interest typically tax deductible*
- Take steps to protect you and your family in case something unforeseen happens with Debt Protection
- *Ask a tax advisor
Conventional Loans
HomeReady Mortgage Loans
FHA Loans
VA Loans
USDA Rural Development Loans
Bare Land/Recreational Land Loans
Purchase hunting land or land to build on in the future. Minimum 10% down.
Mortgage Rates for New Purchases
Fixed-Rate Loan (Up To $647,200) | Purchase Rate As Low As | Purchase APR | Loan Amount | Monthly Payment (Principal and Interest) |
---|---|---|---|---|
30 year | 5.625% | 5.774% | $250,000 | $1,439.14 |
20 year | 5.375% | 5.573% | $250,000 | $1,702.12 |
15 year | 4.875% | 5.121% | $250,000 | $1,960.74 |
10 year | 4.750% | 5.101% | $250,000 | $2,621.19 |
The rates and APRs (Annual Percentage Rates) listed above are based upon a down payment of 20%. If the down payment is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment. First-time home buyers may be eligible for a down payment as low as 3% on new purchases. Rates vary depending on credit history and other factors so final rates offered may be different than above.
Mortgage Rates for Refinances
Fixed-Rate Loan (Up To $647,200) | Refinance Rate As Low As | Refinance APR | Loan Amount | Monthly Payment (Principal and Interest) |
---|---|---|---|---|
30 year | 5.625% | 5.776% | $250,000 | $1,439.14 |
20 year | 5.375% | 5.575% | $250,000 | $1,702.12 |
15 year | 4.875% | 5.124% | $250,000 | $1,960.74 |
10 year | 4.750% | 5.105% | $250,000 | $2,621.19 |
The rates and APRs (Annual Percentage Rates) listed above are based upon 20% equity in the home. If equity position is less than 20%, private mortgage insurance (PMI) may be required on the loan and could result in an increased APR and payment. Rates vary depending on credit history and other factors so final rates offered may be different than above.
INFO
Contact Northwoods Credit Union today to learn more about what our Home Loans have to offer!
INFO
Contact Northwoods Credit Union today to learn more about what our Home Loans have to offer!
Education & Resources
First Time Home Buyer?
Learn tips on how to financially prepare to purchase your first home.
Crunch the numbers.
See how much home you can afford with our simple mortgage calculator.

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