As the Credit Union for the Community,
Brotherhood CU has learned that it must be expert in
non-traditional mortgages. Brotherhood CU offers both
adjustable and fixed rate 15-year through 30-year first mortages.
Brotherhood CU will consider any loan amount up to $500,000.00
FIRST MORTGAGE LOAN - FIXED
RATE
Brotherhood CU offers various fixed rate mortgage programs. The interest rate remains the same throughout the length of the loan, whether that be 10, 15, 20 or 30 years. Some benefits of this type of loan are:
- No application fee
- Low points
- Finance up to 90% of owner occupied property
- BCU will consider any loan amount up to 500K
FIRST MORTGAGE LOAN - ADJUSTABLE RATE
Brotherhood CU offers various adjustable rate mortgage programs. An adjustable rate mortgage (ARM) has an interest rate that varies over the term of the loan. The main advantage of an ARM is that you'll start out with a lower interest rate, and therefore smaller mortgage payments, in the early years when you're still getting on your financial feet.
Brotherhood CU Adjustable Mortgages available:
- 1 yr ARM
- 3 yr ARM
- 5 yr ARM
- 7 yr fixed/3 yr ARM
HOME EQUITY LINE OF CREDIT (HELOC)
The HELOC allows the Member to borrow against his/her home's accumulated equity without disturbing his/her savings or other
investments. HELOC has a low interest rate and there are no loan-advance fees, annual fees, points or closing costs. The Member can make advances by writing out a check. The minimum check amount is $500.00.
HOME EQUITY LOAN (HEL)
The HEL allows the Member to borrow against his/her home's accumulated equity without disturbing his/her savings or other
investments. HEL has a low fixed interest rate with a fixed term and there are no points or closing costs.
Note: Brotherhood CU finances 1-4 family owner-occupied units .
All terms subject to change without prior notice.
For more information please contact the Mortgage Department at (781)
598-5555 or e-mail us at: loandept@brotherhoodcu.org.
