Athol Credit Union is committed to helping our members find the right home loan for their unique needs. Our goal is to act as a guide, providing helpful advice, clear explanations, and features that make sense for your home purchase, construction, or refinance. No matter what your goal is, we are here to answer your questions whenever you need assistance.
If you want an interest rate that never changes, you should consider a fixed-rate mortgage. This type of mortgage is a great option if you plan on being in your home long-term and want the stability of a consistent monthly payment.
Adjustable rate mortgages (ARMs) offer a little more flexibility than their fixed-rate counterparts. They are great for those who prefer to have a lower payment for an initial term, usually 3-5 years. After that term, the rate of your mortgage is based on market rates that change over time.
To learn more about ARMs, click here.
When you are ready to build your dream home, this product is specifically designed to help finance the construction of your new home. From ground-breaking to move-in, with one single loan closing.
Looking for a “fixer-upper"? Need to finance the Purchase and the Rehab? Our loans will help you manage the project, with a single closing and great rates.
Have your eye on the perfect piece of property for a new home or camp? We can finance up to 70% of the lot value with loan terms up to 10 years and competitive rates.
USDA loans, also known as Rural Development loans, are mortgages guaranteed by the U.S. Department of Agriculture. Their purpose is to promote home ownership in rural areas, which happens to include most of the North Quabbin region.
An FHA mortgage is backed by the Federal Housing Administration. These loans are a great option for those who may have lower credit scores or no credit history, and for those looking for a loan with a lower down payment.
VA loans are guaranteed by the U.S. Department of Veterans Affairs, and are a great option for those who are military members, veterans, reservists, or spouses of those who died while on active duty or as a result of a service-connected disability. These loans offer low or no down payment, lower rates, and no private mortgage insurance.
A HELOC allows you to cash in on the equity you have earned on your home’s value. Payments and interest are calculated on the balance of your line that you use, not your total credit line – think credit card but with an exceptionally low rate of interest. Instead of receiving a lump sum loan, members instead receive a line of credit they can manage online and draw on using specially issued HELOC checks. An excellent solution for debt consolidation, home improvement projects, or unplanned expenses. We have several HELOC products to suit your needs.
As an alternative to a HELOC, a HELOAN offers fixed monthly payments with a fixed interest rate over a loan term of 20 years. HELOAN has low closing costs, no annual fees, and quick loan processing. Funds are disbursed as soon as your loan closes. An excellent solution for debt consolidation, home improvement projects, or unplanned expenses.