Mortgage Loans

Ready to buy your dream home today?  Or are you dreaming of remodeling your current home?  Our Mortgage Loan purchase or refinancing options could help make that purchase or refinance more affordable.  With rates typically lower than the national average, you could save thousands of dollars when you apply for a new mortgage or refinance with Andrews Federal. 

Mortgage Payments Made Easy

We’ve simplified the way you pay your mortgage loan. You can now transfer your funds directly to make your mortgage loan payment. View the scheduled amount to be paid by selecting 'mortgage loan' within online banking.

Mortgage loan payments scheduled by 3:00 PM EST are applied on the same day.

Rates effective 09-19-2019

Table data for Mortgage Rates
Conventional Loans
Rate
APR
Points
5/5 ARM 3.125% 3.280% 1.000%
5/1 ARM 3.125% 3.766% 1.000%
7/1 ARM 3.250% 3.739% 1.000%
10/1 ARM 3.500% 3.803% 1.000%
30 Year Fixed Rate 3.375% 3.552% 1.250%
15 Year Fixed Rate 2.750% 3.029% 1.000%
Jumbo Loans
Rate
APR
Points
Andrews Jumbo 30 Year 3.875% 4.022% 1.500%
Andrews Jumbo 15 Year 3.250% 3.433% 1.000%
Jumbo 5/5 ARM 3.875% 3.411% 0.000%

No Surprises - Andrews Federal Fixed Rate Home Loans Offer Peace of Mind

Enjoy the peace of mind that comes with knowing that your rate and payment won't change regardless of what the market conditions are for the next 10-30 years. 

  • 10,15,20, and 30 year terms
  • Available for home purchase and refinance
  • Up to 95% loan-to-value

Start Out Low - Andrews Federal Adjustable Rate Home Loans Offer Lower Initial Payments

  • Fixed intro rate for the first five years
  • You could qualify for a larger loan amount.
  • Caps prevent the rate from increasing too much at once.
  • Available for home purchase and refinance
  • Loan amounts up to $1,000,000.
  • Up to 95% loan-to-value

The Bigger, The Better - Andrews Federal Jumbo Home Loans Offer The Financing You Need For Larger Home Purchases

Planning a large home purchase? We've got you covered.

  • Loan amounts over $417,000 and up to $1,000,000.
  • Available for home purchase and refinance
  • Up to 90% loan-to-value
  • A VA fixed mortgage allows qualified veterans to purchase a new home with no down payment and provides the security of a monthly payment that won't change.
  • A fixed FHA loan is a mortgage insured by the Federal Housing Administration that allows qualified borrowers to purchase a new home with a minimum of 3.5% down payment and the security of a monthly payment that won't change. 

    Andrews Federal Offers Home Loans For First Time Buyers

    • 3% down payment option
    • Federal Home Loan Bank Grants up to $5,000 (for down payment, closing cost, and principal reduction assistance for the purchase or purchase/rehabilitation of an existing home)
    • Low monthly payments
    • Increased savings
    • Mortgage insurance and no mortgage insurance options available

    • Conventional Loans Disclosure Statement

      Annual Percentage Rate (APR) is calculated based on a $225,000 loan amount and includes an Origination fee of $635.00.  Minimum loan amount of $50,000 and maximum loan amount of $453,100.  Rates assume that there are no other liens against the property, that the property will be owner occupied, and that the loan amount does not exceed 95% of the property’s appraised value. Advertised rates require the purchase of points to obtain the reduced rate; no points options are also available, at a higher interest rate.  Loans in excess of 80% Loan to Value (LTV) are subject to private mortgage insurance (PMI).  Payment examples include principal and interest but do not include any taxes or insurance premiums; your actual payment may be greater.  Escrow account may be required.  Rates, terms and conditions vary based on creditworthiness and qualifications and are subject to change.  Subject to credit and property approval.  Additional restrictions may apply.  Consult your tax advisor regarding the deductibility of interest.  You must be a member of Andrews Federal Credit Union to obtain any home loan from us.  For complete details about our mortgage rates and to learn about product and payment options, click here

    • 5/5 Adjustable Rate Mortgage (ARM) Disclosure Statement

      APR is variable and will adjust every five years, after an initial five year period at the advertised APR, for a total of 360 monthly payments (30 year term).  Your rate will change every five years by no more than 2 percentage points up or down, never to exceed more than 5 percentage points above the initial rate.  When the rate adjusts, your new rate will be the then current index (Weekly Five Year Constant Maturity Treasury, or CMT) plus a margin of 1.50%, as long as the total adjustment does not exceed the 2.00% adjustment cap.

    • Jumbo Loans Disclosure Statement

      Annual Percentage Rate (APR) is calculated based on a $800,000 loan amount and includes an Origination fee of $635.00.  Minimum loan amount of $453,100 and maximum loan amount of $2,000,000.  Rates assume that there are no other liens against the property, that the property will be owner occupied, and that the loan amount does not exceed 95% of the property’s appraised value. Advertised rates require the purchase of points to obtain the reduced rate; no points options are also available, at a higher interest rate.  Loans in excess of 80% Loan to Value (LTV) are subject to private mortgage insurance (PMI).  Payment examples include principal and interest but do not include any taxes or insurance premiums; your actual payment may be greater.  Escrow account may be required.  Rates, terms and conditions vary based on creditworthiness and qualifications and are subject to change.  Subject to credit and property approval.  Additional restrictions may apply.  Consult your tax advisor regarding the deductibility of interest.  You must be a member of Andrews Federal Credit Union to obtain any home loan from us.  For complete details about our mortgage rates and to learn about product and payment options, click here.

    • 3% down payment option

      3% down payment option available as part of our first time homebuyers program.  Must have not have owned a property in the last 3 years to qualify.  Maximum loan amount is $453,100.  3% down payment new homebuyers option available on all mortgage products offered by the credit union, including both fixed rate and variable rate loan options.  Mortgage insurance is required. Other qualifications or restrictions may apply. Other rates, terms and down payment options are available. Federal Home Loan Bank Grants are an available option for First Time Homebuyers and are subject to eligibility and income requirements.


    About Datatrac - Datatrac is an independent, unbiased research firm that has monitored deposit and loan rates, fees and product features for over 25 years on more than 213,870 financial institutions in America. Datatrac Great Rate Awards® certify that deposit and loan rates outperform the market average for comparable products. To learn more, please visit www.GreatRateAward.com. Datatrac Great Rate Awards® and data contained in this report are subject to a licensing agreement which may be viewed at www.datatrac.net/eula. Any other use is strictly prohibited. The analysis presented herein is the sole opinion of Datatrac and is based upon independent research conducted by Datatrac and its partners. Research is conducted on a reasonable efforts basis and may or may not represent all institutions or products in a market. Datatrac Great Rate Award® is a registered trademark of Datatrac. Copyright © 2019 Datatrac.

    Based upon an analysis of 127,935 banking locations in the United States as of 02/25/2019, $15,050 is the difference between the amount paid in interest between Andrews Federal Credit Union's rate at 3.909% APR compared to 4.198% APR for the National market average over the life of a $250,000 mortgage over 360 months. The duration of the loan for an Adjustable Rate Mortgage is computed over a typical 360 month amortization period and assumes the rate remains the same over the entire period. Actual savings may be different as the rate may adjust up or down at certain intervals. Taxes and escrow are not included. Please contact us directly for more complete information before making a decision.