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Make your dream of owning a home a reality. Whether you’re buying your first home or your retirement home, our mortgage experts will help you navigate the programs and loan options that work best for you.
We’re committed to getting you the best value with the best service around. Let us put our experience to work for you, and you can sleep soundly in your new home sooner than you might think.
Traditional mortgages are long-term loans provided by financial institutions, such as Granite CU, to help individuals purchase homes. They are known for their stability and reliability, making them an attractive option for many homebuyers. One of the key advantages of obtaining a traditional mortgage at a credit union is the potential for lower interest rates compared to commercial banks.
Traditional mortgages, also known as conventional mortgages, are the most common type of home loan used by borrowers to finance the purchase of a property. They are different from government-backed mortgages, such as FHA or VA loans, as they are not insured or guaranteed by any government entity.
Traditional mortgages also offer stability, a variety of loan terms, the potential for competitive interest rates, and the opportunity to build equity and homeownership. They are a popular choice for individuals seeking long-term financing for their home purchases.
| Loan Term | Rate* | Fee | APR* | Apply Today! |
|---|---|---|---|---|
| 30-Year Conventional | Traditional Mortgage Loan Application | |||
| 30-Year – 7/6 mo ARM | ||||
| 15-Year Conventional | ||||
| Reverse Mortgage | Call for details | Call for details | Call for details |
*APR is Annual Percentage Rate and are estimated on $350,000 loan amount with 80% loan-to value. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required options available. Other terms and conditions may apply.
Buying your first home can be daunting. We offer FREE informational seminars, especially for first-time homebuyers. Our mortgage and real estate experts will help you learn about planning, budgeting, and shopping for a home. You’ll also learn about available homebuyer programs and loan options including:
What are the steps of home buying?
How do I know how much I can afford?
Do I need a down payment?
What mortgage options are available and how do I know which is right for me?
Check the calendar to see when the next available seminar is scheduled.
A short-term refinance mortgage offers homeowners an excellent opportunity to expedite their mortgage payoff and achieve significant cost savings in the process. By refinancing your existing mortgage into a shorter loan term, typically ranging from 5 to 12 years, you can potentially pay off your home much faster and become mortgage-free sooner than anticipated. One of the primary advantages of a short-term refinance is the ability to secure lower interest rates.
A short-term refinance provides the means to achieve this financial milestone sooner, making it an appealing option for those looking to shorten their mortgage journey and achieve long-term financial freedom. If you’ve been paying on your home for a while, a short-term refinance can be a great way to accelerate your payoff and save money along the way.
| Loan Term | Rate* | Fee | APR* | Estimated monthly payment | Apply Today! |
|---|---|---|---|---|---|
| 5 years | $19.44 per $1,000 borrowed | Short-Term Mortgage Application | |||
| 7 years | $14.72 per $1,000 borrowed | ||||
| 10 years | 6.49% | 0.000% | 6.49% | $11.35 per $1,000 borrowed | |
| 10 years | 6.125% | 1.000% | 6.346% | $11.16 per $1,000 borrowed | |
| 12 years | $10.28 per $1,000 borrowed | ||||
| 12 years | $10.08 per $1,000 borrowed |
*APR is Annual Percentage Rate and are estimated on $250,000 loan amount with 80% loan-to value. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required options available. Other terms and conditions may apply.
Always get, review, and compare a “Good Faith Estimate” from your lender before you borrow money on a home.
Use the value you’ve earned in your home to give it a little upgrade. A Home Equity Line of Credit (HELOC) or Second Mortgage lets you draw on the equity in your home at a great low rate for whatever sprucing up you’d like to do. So, if you need a new deck or a she-shed, you can get going knowing Granite is always there to help you improve your space.
Think about a second mortgage for fixed-budget projects. With flexible terms and fixed or adjustable-rate options, we can help you make life happen with a loan that meets your one-time needs.
A HELOC from Granite allows you the convenience of a Visa card to make purchases for your recurring needs. You can draw and repay the loan for up to 10 years because you never know when life’s little surprises might happen.
| Loan Term | APR* | Rate Type | Estimated monthly payment | Apply Today! |
|---|---|---|---|---|
| HELOC | Variable | Greater of $100 or 1.50% of balance | Home Equity Loan Application | |
| 5 years | Fixed | $19.80 per $1,000 borrowed | Second Mortgage Application | |
| 7 years | Fixed | $15.21 per $1,000 borrowed | ||
| 10 years | Fixed | $11.86 per $1,000 borrowed | ||
| 12 years | Fixed | $10.68 per $1,000 borrowed | ||
| 15 years | Fixed | $9.41 per $1,000 borrowed |
*APR is Annual Percentage Rate. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Loan maximum is $50,000 up to 100% LTV or $250,000 up to 80% LTV. Other terms and conditions may apply.
On Variable Rate loans, the index is based on the “U.S. Prime Rate” as listed in the “Money Section of the Wall Street Journal on the third Wednesday of March, June, September, and December plus a margin to be disclosed in your closing documents. The APR will never be greater than 18.00%. Any interest rate increase will result in more payments of the same amount until the amount owed has been repaid.
Borrow up to 100% of your home's equity (up to $50,000)
Borrow up to 80% with a max of $250,000
We’re not talking about burgers here. When you want it your way, our construction loan process can free you up to dream and design.
We process draws quickly (usually within 48 hours) to keep you on schedule, and our low closing costs and low fixed rates let you put more toward that dream closet or landscaped backyard.
Let us hammer out the details so you can spend more time making your dream a reality.
| Loan Term | APR* | Origination | LTV | Apply Today! |
|---|---|---|---|---|
| Construction < 12 months | Construction & Lot Loan Application | |||
| 30/5 balloon lot loan | ||||
| 30/2 balloon lot loan | ||||
| 10-year lot loan |
*APR is Annual Percentage Rate. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Other terms and conditions may apply.
**Subject to change with changes in variable rate.
1.00% origination
Quick draws
Flexible funding
Lot loan options
Easily convert to a low-fee mortgage
There are lots of misconceptions about reverse mortgages, but they can be really helpful for many people. With over 20 years of experience in reverse mortgage loans, let us answer all your questions so you can decide if a reverse mortgage would be an asset to enhance your retirement.
Reverse mortgages are unique loan products designed for homeowners who are at least 62 years old and have significant equity in their homes. Unlike traditional mortgages, reverse mortgages allow homeowners to convert a portion of their home equity into loan proceeds, which can be received as a lump sum, fixed monthly payments, a line of credit, or a combination of these options. What sets reverse mortgages apart is that borrowers are not required to make monthly mortgage payments.
Instead, the loan is repaid when the homeowner sells the home, moves out of the property, or passes away. Reverse mortgages are often sought by seniors looking to supplement their retirement income, cover healthcare expenses, or simply improve their financial security. They offer flexibility and can provide a reliable source of funds for those who wish to age in place and enjoy the comfort of their own homes. It's important to note that reverse mortgages come with certain eligibility requirements, loan limits, and obligations, so it's crucial to carefully review the terms and consult with a financial advisor before considering this option.
We offer FREE informational seminars where our mortgage experts can help you understand all the options so you can decide whether a reverse mortgage loan might be a good choice for you.
Check the calendar to see when our next available seminar is scheduled.
This ad is not from HUD or FHA and was not approved by HUD or any government agency.
Click the image below to view the full disclosure from the U.S. Department of Housing & Urban Development
