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We offer three mortgage options perfect for first-time homebuyers, available with as little as 3%* down. These loan programs include HomeReady, HomePossible, and FHA loans.
Qualified buyers can benefit from special features such as:
*3% down payment mortgage programs are subject to credit approval and eligibility requirements. Not all applications will qualify. Additional terms and conditions may apply.
Conventional loans are perfect for homebuyers with average or better credit scores, a minimum 3%* down payment, and a debt-to-income ratio below 50%. These loans typically have less stringent appraisal requirements compared to other mortgage types. Additionally, conventional loans can be more attractive to sellers, potentially giving you an edge in a competitive market.
For qualified buyers, conventional loans offer:
Jumbo loans are designed for homes priced above the loan limits established by federal agencies, which can vary depending on the property’s location. These loans come with more stringent lending criteria, including but not limited to:
A HELOC allows you to tap into your home’s equity for various needs, such as emergency funds, home renovations, debt consolidation, vacations, and more. Your loan limit is determined by the amount you owe on your home compared to its value, up to a combined loan-to-value (CLTV) ratio of 90%.
Our HELOC offers special features, including:
While FHA loans are often thought to be exclusively for first-time homebuyers, you do NOT need to be a first-time buyer to qualify. FHA loans offer a more flexible lending approach.
Special features of FHA loans include:
*3.5% down payment mortgage programs are subject to credit approval and eligibility requirements. Not all applications will qualify. Additional terms and conditions may apply.
A VA loan is available to veterans and active-duty service members who meet the criteria for a Certificate of Eligibility (COE). These exclusive loans offer numerous benefits to help U.S. military members achieve homeownership.
Key features of VA loans include:
The Service here is ridiculously good. Especially Sarai and Patty in the Mortgage Loan division. It is personal, fast, easy and they are highly available for questions and concerns. They offer competitive rates, are flexible and informative. Keep doing what you are doing and I will only ever do business with you! LM Lester Mascon
The Service here is ridiculously good. Especially Sarai and Patty in the Mortgage Loan division. It is personal, fast, easy and they are highly available for questions and concerns. They offer competitive rates, are flexible and informative. Keep doing what you are doing and I will only ever do business with you!
I just wanted to give a shout out to Junior and his team. We just refinanced our home through CBC and Junior went above and beyond to help us with the loan and paperwork. We had tried refinancing with another company and it was a headache. Belle B.
I just wanted to give a shout out to Junior and his team. We just refinanced our home through CBC and Junior went above and beyond to help us with the loan and paperwork. We had tried refinancing with another company and it was a headache.
I am so happy that I chose CBC FCU to refinance my home loans. Junior and Kathleen in the origination department were joys to work with, and I received personalized service from the beginning to end, and the process was easy. Robert W.
I am so happy that I chose CBC FCU to refinance my home loans. Junior and Kathleen in the origination department were joys to work with, and I received personalized service from the beginning to end, and the process was easy.
Fortunate to work with Sarai Warren and team! My first conversation with Sarai for a home refinance, with credit cad debt pay off and cash out was on 12/2! I explained to Sarai that I was in a tough financial bind and I needed to have things move quickly. David G.
Fortunate to work with Sarai Warren and team! My first conversation with Sarai for a home refinance, with credit cad debt pay off and cash out was on 12/2! I explained to Sarai that I was in a tough financial bind and I needed to have things move quickly.
Must meet membership and account criteria. All loans and loan programs are subject to approval. Income and asset documentation may be required. Loans are secured by a lien against the property. Mortgage loans from OceanAir Federal Credit Union may not be available in all states. Mortgage rates and terms will vary based on collateral and credit. Programs, rates, terms, conditions, and services are subject to change without notice.
*For current rates and payment examples, please refer to our Rates page. Payments will be higher with property taxes and insurance. Not all applicants will qualify for the lowest rate. Actual rate will vary depending on your creditworthiness, income, loan amount, LTV, and other factors specific to your transaction. Other rates and terms may be available. Additional restrictions may apply.
For more information on these and other mortgage loan programs, contact a Mortgage Loan Officer at 805.988.2151 NMLS# 522456
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