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Mortgage Loans

Great Home Loans.... Making Dreams Affordable!

Buying your first home can seem intimidating, especially when you're faced with so many different options. Don't worry, at Foothill Federal Credit Union we're here to help you through the process each step of the way.

To get started, here's a quick review of various mortgage options and some helpful hints as to when each loan may be appropriate. Use this list to help you narrow down the choices to what is best:

Fixed Rate Mortgage: A mortgage loan where the interest rate on the mortgage remains the same through the term of the loan. At FFCU, you can borrow up to $417,000 on our conforming loans, and up to $1,000,000 on our Jumbo Loans.

Adjustable Loans: A mortgage loan where the interest rate on the loan is periodically adjusted based on the 1-year Constant Maturity Treasury Index (CMT). Below are the various adjustable rate mortgages that are available to you:

5/1 year, 7/1 year, adjustable rate mortgages

Program	Loan Characteristics	Best Fit If You
Fixed Rate Mortgage	Interest rate and monthly payment remain the same for the entire life of the loan	Plan to live in the property for more than 10 years Want total payment stability
Adjustable Loan: 5/1 year	Interest rate and monthly payment remain the same for 5 years Starting at the 6th year, the interest rate is adjusted every year. Your mortgage payment is subject to change every year for the remainer of the loan	Plan to live in the property for more than five years Can accept changes in the mortgage payment at the 6th year OR Plan to move within 5 years
Adjustable Loan: 7/1 year	Interest rate and monthly payment remain the same for 7 years Starting at the 8th year, the interest rate is adjusted every year. Your mortgage payment is subject to change every year for the remainer of the loan	Plan to live in the property for more than seven years Can accept changes in the mortgage payment at the 8th year OR Plan to move within 7 years

Apply online or schedule an appointment with a Mortgage Loan Representative at (626) 445-0950 ext. 6237 or 6236 today. AT FFCU, we have the experience and commitment to help you choose the loan that is right for you.