Home Loans

 

Mortgage Loans

Whether you're ready to purchase your first home or are looking to refinance your current one, WESLA Federal Credit Union has the best mortgage services with the competitive rates and flexible terms to meet all of your needs. Our mortgage professionals are prepared to provide you with the hassle-free, money-saving experience you deserve.

Mortgage Loan Programs

Conventional Loans

Up to 95% Financing

A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate. WESLA offers a Conventional Home Loan.

  • 15-year fixed
  • 20-year fixed
  • 30-year fixed

Property Loans

Up to 95% Financing
Fixed vs. Adjustable Rate

As a borrower, one of your first choices is whether you want a fixed-rate or an adjustable- rate mortgage loan. All loans fit into one of these two categories, or a combination “hybrid” category. Here’s the primary difference between the two types:

  • Fixed-rate mortgage loans have the same interest rate for the entire repayment term. Because of this, the size of your monthly payment will stay the same, month after month, and year after year. It will never change. This is true even for long-term financing options, such as the 30-year fixed-rate loan. It has the same interest rate, and the same monthly payment, for the entire term.
  • Adjustable-rate mortgage loans (ARMs) have an interest rate that will change or “adjust” from time to time. Typically, the rate on an ARM will change every year after an initial period of remaining fixed. It is therefore referred to as a “hybrid” product. A hybrid ARM loan is one that starts off with a fixed or unchanging interest rate, before switching over to an adjustable rate. For instance, the 5/1 ARM loan carries a fixed rate of interest for the first five years, after which it begins to adjust every one year, or annually. That what the 5 and the 1 signify in the name.

Home Equity Loans

In addition to mortgage, WESLA Federal Credit Union also offers home equity lines of credit. You can use the equity in your home to pay for just about anything, from a college education to home improvements. To find out how much equity there is in your home, meet with a lending professional who can help you put the equity in your home to work for you with a fast and affordable home equity line of credit.

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TruStage Home Insurance

Rates depend on credit. Some restrictions may apply. WESLA NMLS#712173 Kaitlyn Porter NMLS#1788883.

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