Mortgage Rates
Looking for your next mortgage? You’ll find it at UVA Community Credit Union. We keep rates competitively low so your money goes further. When you’re able to fulfill your homeownership dreams, we’re here to celebrate with you.
First-rate mortgages at rates you’ll love.
Welcome home to better home loan options.
Whether you’re a first-time buyer or a long-time owner, you’ll find home loan rates that fit your budget and help you reach your goals. Check out the latest rates from UVA Community Credit Union when you’re buying a home or refinancing your current mortgage.
Please call us at 888-887-9136 Option 6 (toll-free) for our latest mortgage rates.
| Interest Rates | APR1 |
|---|---|
| 6.406% | 6.477% |
The total principal and interest portion of the monthly payment does not change during the loan term of a fixed rate mortgage, which makes it the most popular loan option. All of our fixed rate mortgages allow you to make extra principal payments or to pay off the loan early without a prepayment penalty.
| Interest Rates | APR1 |
|---|---|
| 5.840% | 6.159% |
Credit Union serviced 5/1 ARM held locally in the Credit Union's portfolio and not sold to Fannie Mae or Freddie Mac. Introductory payment and interest rate are fixed for the first five years and adjust annually after the fixed period.
| Loan Term | 360 Months | The period of time for the loan to be repaid. |
|---|---|---|
| Interest Only Term | N/A | During this term, the payment covers only the cost of your interest. After this period, the payment will increase. |
| Initial Fixed Period | 60 Months | The initial interest rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). |
| Subsequent Adjustment Period | 12 Months | After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. |
| Initial Adjustment Cap | 2.00% | The maximum amount the interest rate may increase or decrease after the Initial Fixed Period. |
| Periodic Adjustment Cap | 2.00% | The maximum amount the interest rate may increase or decrease after each Subsequent Adjustment Period. |
| Maximum Interest Rate | Initial Rate + 5.00% | The maximum interest rate you may be required to pay. |
| Index | 1 Year CMT | A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities,Secured Overnight Financing Rate (SOFR) and the Cost of Funds Index (COFI). |
| Index Value | 4.04% | This value is subject to change without notice. |
| Margin | 2.25% | The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors). |
| Interest Rates | APR1 |
|---|---|
| 5.990% | 6.187% |
Credit Union serviced 5/1 ARM held locally in the Credit Union's portfolio and not sold to Fannie Mae or Freddie Mac. Introductory payment and interest rate are fixed for the first seven years and adjust annually after the fixed period.
| Loan Term | 360 Months | The period of time for the loan to be repaid. |
|---|---|---|
| Interest Only Term | N/A | During this term, the payment covers only the cost of your interest. After this period, the payment will increase. |
| Initial Fixed Period | 84 Months | The initial interest rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). |
| Subsequent Adjustment Period | 12 Months | After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. |
| Initial Adjustment Cap | 2.00% | The maximum amount the interest rate may increase or decrease after the Initial Fixed Period. |
| Periodic Adjustment Cap | 2.00% | The maximum amount the interest rate may increase or decrease after each Subsequent Adjustment Period. |
| Maximum Interest Rate | Initial Rate + 5.00% | The maximum interest rate you may be required to pay. |
| Index | 1 Year CMT | A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities,Secured Overnight Financing Rate (SOFR) and the Cost of Funds Index (COFI). |
| Index Value | 4.04% | This value is subject to change without notice. |
| Margin | 2.25% | The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors). |
| Interest Rates | APR1 |
|---|---|
| 6.250% | 6.841% |
FHA 3.5% - Minimum Down Payment
FHA mortgages are designed to provide low down payment financing and are a great option to consider if you are trying to finance a new home with as little cash as possible. A fixed interest rate mortgage provides the security of a monthly payment that won't change.
| Interest Rates | APR1 |
|---|---|
| 6.406% | 6.431% |
This products provides financing for loan amounts that exceed the federal conforming loan limits. Designed to help secure financing for high-value properties and homes in highly competitive real estate markets. A fixed interest rate mortgage that provides you the security of having a monthly payment that won't change.
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2The information provided assumes the purpose of the mortgage loan is to purchase a property, with an estimated property value of $400,000 and down payment of 20%, or $80,000. The property is a single-family residence and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days, and the assumed credit score is 780.
3The information provided assumes the purpose of the mortgage loan is to purchase a property, with an estimated property value of $1,250,000 and a down payment of 20%, or $250,000. The property is a single-family residence and will be used as a primary residence. An escrow (impound)account is required. The rate lock period is 45 days, and the assumed credit score is 780.
4For example, on a $10,000 30-year loan with an initial interest rate of 5.688% (based on the 3.020% index value rate in effect on August, 2022, plus a margin of 2.250% and less a discount plus a premium of 0.418%, rounded as provided above), the maximum amount that the interest rate can rise under this program is five percentage points (5.000%) to 10.688% and the monthly payment can rise from a first year payment of $57.96 to a maximum of $86.91 in the 6th year. To see what your monthly payments would be, divide your mortgage amount by $10,000; then multiply the monthly payment by the resulting amount. (For example, the monthly payment for a mortgage amount of $60,000 would be $60,000 divided by $10,000 = 6; 6 times $57.96 = $347.76 per month.)
All loans are subject to credit and property approval. Other restrictions may apply. UVA Community Credit Union membership eligibility is required. A minimum ongoing balance of $5 in a Share Savings Account is required. Equal Housing Opportunity. NMLS #302946 nmlsconsumeraccess.org.
Interest rate sources are a combination of interest rates provided by the Credit Union and the Credit Union's secondary market investors.