Conventional & government mortgages

Conventional & Government Mortgages

Find the Mortgage That Fits Your Homeownership Goals

Buying a home is one of the biggest financial decisions you'll make. At Circle Federal Credit Union, we offer a variety of conventional and government-backed mortgage programs designed to give you more options when purchasing or refinancing a home.

Whether you're a first-time homebuyer, an experienced homeowner, or looking to refinance your existing mortgage, our mortgage team can help you understand your options and guide you through the process from application to closing.

We finance Fannie Mae, Freddie Mac, Rural Development, FHA, and VA mortgages, giving qualified borrowers access to a range of financing solutions designed for different financial situations and homeownership needs.

A Mortgage With Local Service

When you finance your mortgage through Circle Federal Credit Union, your loan is serviced by the credit union.

That means you won't have to wonder where your mortgage payment is going or who is managing your loan after closing. Your mortgage will appear on your monthly statement, and you'll make your payments directly to Circle Federal Credit Union.

We believe your mortgage relationship should continue beyond the closing table. Our team is here to help answer questions, explain your options, and provide personal service throughout the life of your loan.

Purchase Or Refinance

Our mortgage programs can be used for both home purchases and refinances, subject to program and underwriting requirements.

Whether you're purchasing your first home, moving into a new home, or exploring whether refinancing makes sense for your current mortgage, our team can help you determine which options may fit your needs.

Fannie Mae Mortgages

Flexible Conventional Financing for Qualified Borrowers

Fannie Mae mortgage programs can provide a flexible conventional financing option for borrowers who meet applicable qualification requirements.

With fixed-rate options and down payments that may be lower than you expect, a Fannie Mae mortgage can be a practical solution for both first-time and experienced homebuyers.

Fannie Mae Mortgage Benefits

• Fixed-rate terms from 10 to 30 years
• Down payments as low as 5% for many loans
• First-time homebuyers may qualify with as little as 3% down
• Loans up to $832,750
• Escrow available
• Competitive rates and low closing costs
• Personal guidance throughout the mortgage process

A fixed-rate mortgage can provide the predictability of a consistent interest rate over the life of the loan, making it easier to plan your monthly housing expenses.

Apply Online          Current Fannie Mae Rates

Freddie Mac Mortgages

Conventional Financing With Flexible Qualification Options

Freddie Mac mortgage programs offer another conventional financing option for qualified borrowers.

These programs may be particularly attractive to borrowers who want the predictability of a fixed-rate mortgage while benefiting from flexible qualification guidelines.

Freddie Mac Mortgage Benefits

• Fixed-rate terms from 15 to 30 years
• Down payments as low as 5% for many loans
• First-time homebuyers may qualify with as little as 3% down
• Loans up to $832,750
• Escrow available
• Competitive rates and low closing costs
• Qualification requirements may be less stringent than some Fannie Mae programs
• Personal guidance throughout the mortgage process

Our mortgage team can help you compare available conventional programs and determine which financing option best fits your financial situation and homeownership goals.

Apply Online         Current Freddie Mac Rates

Rural Development Mortgages

Make Homeownership Possible with 0% Down

For qualified borrowers purchasing an eligible property in an eligible area, a Rural Development mortgage can provide an opportunity to purchase a home with no down payment.

This program can be especially helpful for borrowers who have the income to support a mortgage but may have difficulty saving a traditional down payment.

Rural Development Mortgage Benefits

• 30-year fixed-rate mortgage
• 0% down payment
• Closing costs may be rolled into the loan based on the home's value
• Escrow required
• Competitive rates and low closing costs
• Personal guidance throughout the mortgage process

Because Rural Development mortgages have specific property, income, and eligibility requirements, our mortgage team can help you determine whether this program may be available for your situation.

Apply Online          Current Rural Development Rates

HomeReady & HomePossible $2,500 Down Payment Assistance

Key Features

• Borrowers with a qualifying income of less than or equal to 50% of the applicable area median income (AMI) of the subject property's location are eligible.
• The full amount of the $2,500 credit must be provided directly to the borrower through the transaction, such as being applied to down payment and closing costs, including escrows and mortgage insurance premiums.
• Additional Requirements

Effective Dates

Mortgage Payoff Calculator Refinance Calculator

All mortgage programs are subject to applicable eligibility, underwriting, property, income, credit, and program requirements. Down payment amounts, loan limits, rates, closing costs, and other terms may vary based on the mortgage program and individual borrower qualifications.

Rates are subject to change without prior notice. Current rates and program availability should be confirmed with Circle Federal Credit Union before applying.

Membership with Circle Federal Credit Union is required. Applicants must qualify for membership.

Circle Federal Credit Union is federally insured by the National Credit Union Administration (NCUA) and is an Equal Housing Lender.