Lending

MORTGAGE LOANS

Let us help you make the home of your dreams a reality. Whether you are buying a new home or refinancing your current residence, we have a mortgage plan to meet your needs.

• Great Rates
• Local Decision Makers
• Excellent Service
• Members Can Apply Online

First Time Home Buyer Program

Buying your first home is exciting. FRMCU wants to make it easier.

• 3% down payment
• Fixed Rate Mortgage
• Single Family Owner/Occupied
• First time homebuyer certificate needed
• Low discounted rate on Mortgage Insurance

Conventional Fixed Rate Mortgages

• Various terms available
• Competitive closing costs

Adjustable Rate Mortgages (ARMs)

Our Adjustable Rate Mortgages (ARMs) include an interest rate that remains fixed for a period of time and then adjusts annually based on the weekly average 1 Year Constant Maturity Treasury rate (“index rate”).  The adjusted rate may increase or decrease according to the index rate. Interest rate increases normally result in higher monthly payments.

Available ARM products:

• 10/1 Adjustable Rate Mortgage – Fixed rate for 10 years, adjusting annually for remainder of term
• 7/1 Adjustable Rate Mortgage – Fixed rate for 7 years, adjusting annually for remainder of term
• 5/1 Adjustable Rate Mortgage – Fixed rate for 5 years, adjusting annually for remainder of term
• 3/1 Adjustable Rate Mortgage – Fixed rate for 3 years, adjusting annually for remainder of term

Please see our Mortgage Programs page for additional details.

Construction-to-Permanent Mortgages

• Fixed rates available
• Rate locked at time of application

Land Loans

• Variable Rate
• Term 15 years

Schedule your appointment today and you’ll be home in no time.

Offices in Fall River & Assonet
Connecting all offices: 508.678.9028

Mortgage Team

James Maloney NMLS# 3686 Email jmaloney@frmcu.com

(508) 678-9028

Please call for an appointment that is convenient for you,
NMLS ID# 410816