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Mortgage Loans

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Whether you're a first time home buyer or you're planning to upgrade your existing home, get a free pre-approval with Merrimack Valley Credit Union (MVCU) and Bridgewater Credit Union, a division of Merrimack Valley Credit Union (BCU) first.

We have a variety of mortgages that can help you get into your next home, or refinance your existing home. We can help you determine how much down payment you need, how much you can qualify for, and how to improve your credit score so that you can avoid making mistakes that could cost you time and money. If you don't have enough down payment, you may qualify for the HomeReadyTM Mortgage.

A mortgage to meet every need

  • Fixed rate mortgages 10, 15, 20, 25 or 30 years (or pick your term)
  • Adjustable rate mortgages (ARMs) – 3, 5, 7  or 10 years. Our ARM rate is tied to the Treasury, not LIBOR. This means that your rate change will adjust slower, potentially saving you hundreds or thousands of dollars
  • No points, or No points no closing costs options available
  • Borrow up to 97% of the value of your home for first-time home buyers
  • Down payment requirements as low as 3%
  • HomeReadyTM low-down payment program – similar to FHA
  • Purchase or refi mortgage
  • No escrow waiver fee
  • Quick loan decisions
  • Option to lock in a guaranteed interest rate up to 60 days before closing
  • No prepayment penalties. Reduce your interest by paying early

Getting a Mortgage is as Easy as 1-2!

number 1 Get pre-approved! Your Mortgage Consultant will help you find an affordable mortgage based on your income and budget. 

number 2 Once you find the ideal house, contact your Mortgage Consultant to complete your mortgage application.  It's important that you follow the checklist and provide required documentation on a timely basis.  Once everything is in order, you will be scheduled for closing.  You will receive your HomeAdvantage cash rewards at closing if you worked with a HomeAdvantage real estate agent.   

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Additional Money Saving Programs

  • Discounts on homeowners insurance
  • $1,000 discount on purchase mortgages. Cannot be combined with a No Point No Closing Cost program, or other discount offers.

Contact our Mortgage Consultants to discuss your housing needs, learn about our affordable programs or to apply for a mortgage.  

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