Welcome Home! Mortgage Options That Work for You
At PremierOne Credit Union, we offer a variety of home loan options to meet your specific needs. Whether you're buying your first home, refinancing, or looking to tap into your home's equity, we have the right solution for you. Our personalized service, competitive rates, and convenient online application process make home financing easy and stress-free.
Check out our Mortgage Options
- First Time Home Buyer
- Fixed Mortgages
- Adjustable Rate Mortgages
- Investment Property Loan
- Private Mortgage Insurance
- Mortgage Referral Program
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Fixed Mortgages
We'll work with you to identify the home loan option that best fits your needs with personalized service, competitive rates, and a wide variety of mortgage options.
- Fixed Rate Loans: 10, 15, 20, and 30-year terms
- 24/7 easy online application
- Competitive rates, low fees, and a no-point program
- Resources to help you identify the loan that best fits your needs
Adjustable Rate Mortgages
An ARM is a home loan with an interest rate that is initially fixed for a set period and then fluctuates based on a market index for the remainder of the loan term. This differs from a fixed-rate mortgage, where the interest rate stays the same throughout the life of the loan.
- Adjustable Rate Loans: 3/1, 5/1, 7/1, and 10/1
- 24/7 easy online application
- Competitive rates, low fees, and a no-point program
- Resources to help you identify the loan that best fits your needs
Investment Property Loan
Investing in property can be a smart financial decision, whether for a primary residence, rental property, or a home to renovate and flip. Program features:
- Fixed terms available for 30 and 15-year loans
- Loans up to $1,249,125
- No-point program available
Private Mortgage Insurance (PMI)
Private Mortgage Insurance (PMI) helps you qualify for a home loan with a smaller down payment by lowering the lender's risk. If your down payment is less than 20%, you'll need PMI, which increases your monthly payment. Unlike FHA mortgage insurance, PMI can be removed before the loan is paid off if certain criteria are met.
First Time Home Buyer Program
If you're looking to buy a home for the very first time, our First Time Home Buyer Program may be the perfect fit for your mortgage needs. Program features:
- Up to 100% total combined financing available1
- Save up to $1,500 on closing costs1
- 0.25% discount1 off your first mortgage
- Competitive rates, low fees, and a no-point program
- Get pre-approved quickly and easily with local underwriting
For your convenience, our first mortgage application services are also available 24/7. To apply, please call us at 408-524-4500 or 1-855-500-7128 and press option #4.
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Home Loan FAQs
What home loan options does PremierOne Credit Union offer?
PremierOne Credit Union offers a variety of home financing solutions, including first-time home buyer loans, fixed-rate mortgages, adjustable-rate mortgages (ARMs), accessory dwelling unit (ADU) loans, investment property loans, refinancing options, and home equity borrowing solutions, and up to 100% financing available depending on the purchase price.
What benefits are available through the First Time Home Buyer Program?
PremierOne Credit Union's First Time Home Buyer Program offers up to $1,500 in closing cost savings, a 0.25% mortgage rate discount when you complete an approved home buyer education course, competitive rates, low fees, and local underwriting for fast and personalized service.
What is the difference between a fixed-rate mortgage and an adjustable-rate mortgage?
A fixed-rate mortgage keeps the same interest rate for the life of the loan, providing predictable monthly payments. An adjustable-rate mortgage (ARM) starts with a fixed rate for an initial period and then adjusts periodically based on a market index.
What fixed-rate mortgage terms are available?
PremierOne Credit Union offers fixed-rate mortgage terms of 10, 15, 20, and 30 years. These options allow borrowers to choose a repayment schedule that aligns with their budget and long-term financial goals.
What adjustable-rate mortgage options are available?
PremierOne Credit Union offers 3/1, 5/1, 7/1, and 10/1 adjustable-rate mortgages. Each option includes an initial fixed-rate period followed by periodic rate adjustments based on market conditions.
What is an Accessory Dwelling Unit (ADU) loan?
An ADU loan helps homeowners finance the construction or improvement of an accessory dwelling unit, such as a guest house, rental unit, home office, or in-law suite. PremierOne's ADU HELOC includes up to 24 months of interest-only payments, no prepayment penalties, and financing up to 90% loan-to-value.
Can I get a loan for an investment property?
Yes. PremierOne Credit Union offers investment property loans with fixed-rate terms available for 15- and 30-year loans, financing up to $1,249,125, and a no-point program for qualified borrowers.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) helps borrowers qualify for a mortgage with a down payment of less than 20%. PMI protects the lender and is added to your monthly mortgage payment until certain equity requirements are met.
Can PMI be removed from a mortgage?
Yes. Unlike some other forms of mortgage insurance, PMI may be removed before the loan is paid off if eligibility requirements are met, which can help reduce your monthly mortgage payment.
How do I apply for a mortgage with PremierOne Credit Union?
You can apply online 24/7 through PremierOne Credit Union's mortgage application process. You can also contact PremierOne directly to discuss loan options, obtain pre-approval, or receive assistance from a mortgage specialist.
Additional Resources
- What are the Different Types of Mortgages?
- Myths About Renting vs. Buying a Home
- How Can I Prepare to Buy a Home in the Future?
- 5 Reasons to Consider Investing in Property
Some restrictions may apply. All loans are subject to credit approval.
1. First Time Home Buyers Program: To be eligible for the 0.25% First Time Home Buying Program rate discount and $1,500 off their closing costs, applicants must meet the definition of a First Time Home buyer, as defined by the credit union, and successfully complete the Framework home buyer educational online course, a $75 value. A Certificate of Completion is required before close of escrow. A First Time Home Buyer is an individual that hasn’t owned a home in the past three years. Financing available up to 97% for borrowers who qualify for Private Mortgage Insurance (PMI). Financing options available up to 100%, which will not require Private Mortgage Insurance, for borrowers who qualify for the 30 year Home Equity Loan program. Some restrictions may apply. Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. All loans are subject to credit approval. Must be a member of the credit union to fund a loan.