Trusted Mortgage Loan Provider

At Ohio Catholic Federal Credit Union, we have a variety of home loan solutions for our members all across Ohio.

Fixed First Mortgage Loans

A fixed rate mortgage has a secure rate, principal, and interest payment for the life of your loan. You have the option of a loan with a shorter term for a lower interest rate or a loan with a longer term for lower monthly payments. We offer terms ranging from 10 years to 30 years with no pre-payment penalties.

3% Down Payment, Fixed First Mortgage Loans

Designed for credit-worthy, low-to-moderate income borrowers looking to purchase a home.  This mortgage loan allows for as little as a 3% down payment that includes a flexible source of funds for closing costs such as gifts and grants.  Fixed terms for up to 30 years are available.

FHA Mortgage Loans

An FHA loan gives the borrower multiple benefits such as low down payments (as little as 3.5%), low closing costs, low rates, and an easy qualifying process.  Popular with young professionals and first-time home buyers, FHA mortgage loans allow the borrower to get the funds necessary to close from several sources. They include such areas as personal savings, gifts, grants, loans from retirement accounts and seller contributions.

 Home Equity Lines of Credit

Home Equity Lines of Credit allow the flexibility to borrow only what you need, when you need it. No interest payments are paid for money that is not used. The variable interest rate is based on the prime interest rate posted in the Wall Street Journal. Rates will depend on credit limit, credit qualifications, and loan-to-value ratio. Here are the specifications:

    • Credit Line Up to $250,000
    • 10-Year Draw Period
    • Repayment Period up to 240 Months (20 years) that is an additional 10 years beyond the 10-year Draw Period
    • Low Minimum Payments
    • Check and Home Equity MasterCard Credit Card Access
    • Competitive Variable Low Rates
    • Fast and Easy Approval Process
    • No Pre-Payment Penalty and No Early Termination Penalties if HELOC is kept open for two years or more
    • No Transaction Fees
    • Up to 100% Loan to Value (LTV) Ratio

Home Equity Loans/Fixed Second Mortgage Loans

Home Equity Loans or Fixed Second Mortgages allow you to borrow what you need with a fixed rate and payment for the life of the loan. The rate for the loan will depend on credit limit, credit qualifications, and loan-to-value ratio.

  • Loans up to $250,000
  • Terms from 5 Years to 15 Years
  • Competitive Low Fixed Rates
  • Fast and Easy Approval Process
  • No Prepayment Penalty and No Early Termination Penalties if HEL is kept open for two years or more
  • Up to 100% Loan to Value (LTV) Ratio
  • Low Minimum Payments

Ask about other mortgage options available such as VA loans, Adjustable Rate Mortgages (ARM’s), and mortgage refinances from other financial institutions. For rates and more information, contact an Ohio Catholic Federal Union representative. Mortgage loans are an important step towards many individuals’ goal of home ownership. Let our credit union guide you in the right direction. We are happy to serve and consult with residents from all across Ohio.

If you are interested in applying, click here to get started!