Mortgages

Mortgages

Make your dreams happen with us! We have the mortgage options to make your dreams of home ownership a reality.

At Community Credit Union, we make decisions locally, which means we’ll approve your loan quickly – and you’ll be treated like family. We take the time to understand your situation and accommodate your specific needs.

We offer free pre-qualifications, so you can shop for your home with peace of mind knowing that you’ll be within your budget. One of our Mortgage Lending Representatives can walk you through your options and the mortgage process step by step. No surprises, just low rates and unmatched service.

We make mortgage loans for single-family homes, two to four family homes, condominiums, and construction loans.

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Mortgages

Who We Serve

Who We Serve

CCU is proud to serve the people of Lynn, Peabody, Somerville and the greater Boston area with banking that is vibrant, personal and fair.

We are a state-chartered credit union. The prerequisite for CCU membership is to live, work, or worship in Essex County or in 25 mile radius from Lynn, Massachusetts. To join CCU, an individual or a business must maintain a savings account (sometimes also called a share account) with a $25 balance.

Once you have established membership, you can finance a home in MA, NH, ME, CT, RI or FL. Property types include; primary residence, second home, vacation property, 1-4 family and investment homes.

Who We Serve

Get in Touch

Get in Touch

If you have a question or a comment, please fill out the form below. One of our representatives will review your information as soon as possible. If you need assistance right away, we recommend calling or visiting a branch instead.

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What’s different about getting your mortgage at Community Credit Union?
  • You always deal with a person, not some automated system
  • We work with all income and credit applications
  • You’re able to get pre-approved within 1-2 business days
  • We offer first time home buyer courses
  • We will service your conforming mortgage for the life of the loan
  • We are member-owned, therefore, we work FOR YOU!
  • We are local, we understand the greater Boston market
  • Apply Now
First Time Homebuyer Program
First Time Homebuyer Program

Buying your first home can be a daunting and intimidating experience, but it doesn’t have to be. We can make the mortgage process stress-free. With our First Time Homebuyer program, we’ll walk you through the home buying process — step by step. And, you can get some perks along the way.

  • Finance up to 97% for qualified buyers
  • Get competitive interest rates
  • Easy online application
  • Or apply in person
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First Time Homebuyer Program

Other types of loans we offer:

VA loans:

VA Loans

VA loans assist Service members, Veterans, and their families to become homeowners or refinance their current property.

The Veterans length of service or service commitment, duty status, and character of service determine eligibility for specific home loan benefits.
You must obtain your Certificate of Eligibility from the Veteran’s Administration before applying.

  • VA loans often have lower interest rates and closing costs.
  • You may not have to make a down payment depending on your individual benefit.
  • PMI is not required.
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VA Loans

FHA loans:

FHA Loans
  • FHA loans provide a lower down payment option, sometimes as low as 3.5%.
  • The FHA does not require a perfect credit to secure financing. In some instances, you may qualify for 3.5% down with a 580 credit score.
  • FHA loans allow sellers to pay up to 6% of the loan amount to cover buyers’ closing costs. Sellers can only pay up to 3% on conventional loans.
  • An FHA loan does require insurance “MIP”.
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FHA Loans

Construction Loans

Construction Loans

Having trouble finding your dream home? Build it! With a Construction Loan from Community Credit Union, you can build your dream home and create your own vision here in the vibrant community we live in.

We’ll work with your builder to create a plan to keep your funds coming, so your contractors can stay on schedule. Add value to your community, while adding value to your financial future!

  • Finance $100k – $2 million
  • Competitive low rates
  • Pay interest only during construction or up to 12 months
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Construction Loans

Home Equity Loans and Lines of Credit

Home Equity Loans and Lines of Credit

Get a Home Equity Line of Credit, or HELOC, with Community Credit Union and live more vibrantly. With a HELOC, you can make home repairs, renovations, pay college tuition, or anything else that can be paid for in smaller portions. With this option, you can borrow what you need in smaller amounts with just one loan application and approval!

Best of all, you only pay back what you use, when you use it. It’s easy, convenient, and offers you access to the money you need to get things done.

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Home Equity Loans and Lines of Credit

Borrow up to 75% of your home’s equity

  • Low, competitive rates
  • May be tax deductible*
  • No origination fees
  • Very low closing costs
  • Interest accrues only on what you borrow
  • Access to your Home Equity Line is convenient, too.

Withdraw through Online Banking, HELOC checks, or at a teller window.

Call our Mortgage Center at 978-968-2200 to learn more, check rates, apply for your loan, or finish an application you’ve already started.

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Get Started

Visit our Mortgage Center to learn more, apply for your loan, or finish an application you’ve already started. For additional information, call our Mortgage Center at 978-968-2200 to speak to one of our Mortgage Lending Representatives. Or you can email us at mortgagecenter@myccu.org

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Testimonials:

“We could not be happier with the mortgage services at CCU. From the preapproval letter on 11/2, through closing on 12/23, Jen Siegler was wonderful. She worked with us on every aspect of the process and responded quickly to our changes and questions. Because of the competitive real estate market, our offer on the house was extremely aggressive including what we believed was an unrealistic closing date. Actually, we received the mortgage commitment letter early! Please do not hesitate to use CCU for your mortgage.”

-Joanne P

“We could not be happier with the mortgage services at CCU. From the preapproval letter on 11/2, through closing on 12/23, Jen Siegler was wonderful. She worked with us on every aspect of the process and responded quickly to our changes and questions. Because of the competitive real estate market, our offer on the house was extremely aggressive including what we believed was an unrealistic closing date. Actually, we received the mortgage commitment letter early! Please do not hesitate to use CCU for your mortgage.”

-Joanne P

Refinancing Your Mortgage

  • Benefit from lower interest rates
  • Reduce your monthly payment
  • Pay off your mortgage faster with a 10 or 15 year loan
  • Use your equity to take cash out for home improvements or any other expense
  • Roll your home equity line of credit into a fixed-rate mortgage
Apply Online

FAQs

How long does it take to get pre approved?

Pre-approval can take anywhere from 1-to 3 days depending on if you have all of your documents needed for pre-approval. During your application your Mortgage Representative will request certain documentation (typically income and asset, but additional docs may be required).

How much down-payment do I need to provide?

What if I have bad credit?

How much home can I afford?

What’s the first step I need to take?

What’s different about getting a loan a Community Credit Union?

What’s needed for the application?

Where We Came From

Where We Came From

Where We Came From

Community Credit Union (CCU) was founded in 1955 by a group of visionary leaders who cared about local working people, families, and small businesses. Since then, we have been helping our diverse member base meet their financial challenges and opportunities.

As a credit union, we’re a not-for-profit cooperative financial institution. That means we exist for the benefit of the people we serve. You’ll notice that we call them “members” instead of customers. That’s because they are more than just numbers to us. They’re our fellow human beings, and they’re co-owners of this credit union.

CCU is run by this community, for this community. Our Board of Directors is comprised of 9 volunteers who do not get compensated for their time. They are reputable, educated, and qualified community leaders of the highest integrity.

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