Whether you’re buying a home in Washington, D.C., Maryland, Virginia, New Jersey or elsewhere, this is an exciting time. But learning what's on the market can be an exhausting process. Our Home Center can point you in the right direction, with its extensive lists of properties and experienced agents. Our lending professionals can help you choose a low-cost mortgage you can happily live with for years to come.
Important Information for Select Triad Financial Services, Inc. Manufactured Home Loan Members
Select members recently received communications from Andrews Federal regarding their Triad Financial Services, Inc. manufactured home loan. If you have questions about the letter you received, please call (800) 487-3280.
First-Time Home Buyers
Limited-Time Offer! Save Up To $1,500 In Closing Costs
Now through November 30, 2023, you can save up to $1,500.00 in closing costs1. Your origination fees will be waived if you establish direct deposit to pay your mortgage with Andrews Federal. This offer applies to all refinance or purchase applications, including purchase prequalification applications.
Make your dreams a reality with a lower down payment
- Save up to $1,500 in closing costs on purchases and refinances (limited-time offer!)1
- Borrow up to 97% of the home's value3
- Make a down payment as low as 3% of the cost of your new home
- Apply for Federal Home Loan Bank Grants of up to $15,000. (Money can be used for a down payment, closing costs, and/or reducing the principal on your mortgage.)
- Choose between loans that require personal mortgage insurance (PMI) and those that don't
Conventional Fixed-Rate Mortgages
Lock in your principal payment and interest rate
It's the ideal loan for people who don't like surprises. Your principal payment and interest rate won't change one bit, regardless of market conditions over the next decade, or two, or three.
- Save up to $1,500 in closing costs on purchases and refinances (limited-time offer!)1
- Borrow up to 95% of the home's value2
- Choice of loan lengths: 10, 15, 20 or 30 years
- Refinance your existing loan to save on interest charges or reduce monthly payments
Conventional Adjustable-Rate Mortgages
A little flexibility can offer a lower monthly payment
- Save up to $1,500 in closing costs on purchases and refinances (limited-time offer!)1
- Borrow up to 95% of the home's value2
- Caps prevent the interest rate from increasing too much after the initial 5-, 7- or 10-year period
- Refinance your existing loan to save interest charges or reduce monthly payments
- Lower interest rates for the first 5, 7 or 10 years
VA Fixed Rate Mortgages
A great option for eligible service members, veterans and their spouses
- Borrow up to 100% of the value of your home
- No monthly mortgage insurance
- Streamlined refinance process with reduced documentation in many cases
Question? Please call (844) 809-0790.
FHA Fixed Rate Mortgages
A low down payment option with great rates
- Less stringent underwriting than conventional loans
- Buy with as little as 3.5% down payment
- Popular choice for first time home buyers
Question? Please call (844) 809-0790.
USDA Mortgages
For eligible properties located in rural areas and smaller towns
- Borrow up to 100% of the value of your home
- No monthly mortgage insurance
- Lenient eligibility requirements and competitive rates
Question? Please call (844) 809-0790.
Jumbo Home Loans
The perfect loan for higher housing costs
- Loan amounts from $726,200 to $1 million
- Borrow up to 90% of the home's value
- Refinance your existing loan to save interest charges or reduce monthly payments
Home Center
Find your next home
Our Home Center can point you in the right direction, with its extensive lists of properties and experienced agents. Our lending professionals can help you choose a low-cost mortgage you can happily live with for years to come.
Learn more about the home buying process
Fannie Mae HomeView™
The journey toward homeownership can be a thrilling experience. It can also be filled with lots of questions and maybe more than a little uncertainty. That’s why we’re excited to provide Fannie Mae HomeView, a free homebuyer education course that guides you along each step. Take a closer look at various topics, including saving for a home, shopping for a home with an agent, understanding the lending process and much more. Completing this course also fulfills the first-time homebuyer requirements for programs such as the HomeReady program. Discover everything you can learn through Fannie Mae HomeView.
Freddie Mac CreditSmart® Homebuyer U
Increase your knowledge of the homebuying process to reach a higher degree of understanding through Freddie Mac CreditSmart Homebuyer U. This free resource offers invaluable guidance and satisfies the homebuyer course requirement for the HomePossible program. Tap into a tailored experience with various tools and trackers that provide a closer look at everything that goes into buying a home.
STILL HAVE QUESTIONS?
Go here to learn more about our eligibility requirements.
Unfortunately, you cannot pay your escrow short online. Mail a check with “Mortgage Escrow Shortage” written in the Memo line, to:
Andrews Federal Credit Union
ATTN: Mortgage Department
P.O. Box 3000
Clinton, MD 20735-6001
No, you are welcome to apply for a loan before you've become a member. Once you've been approved for the loan, membership is required($5 minimum in Savings) for the loan to be disbursed.
Principal Only Payments are available on mortgage loan products only. Consumer loans are not eligible for principal only payments. On consumer loans, interest accrues daily. Each time you make a payment, the payment will first satisfy interest for the amount of days it has been since the last payment (or date of loan origination, if no first payment has been made.)
Follow the instructions below for an easy way to calculate the interest on your loan.
- Multiply the unpaid balance times the interest rate.
- Multiply the answer obtained in step one times the exact number of days between the loan disbursement (if the 1st payment) or payments.
- Divide the answer obtained in step two by 365 (number of days in a year) and this will equal the interest charged as reflected on your statement.
Good News: You may pay more than the amount due each month. Paying more than your required monthly payment can reduce the amount of interest you pay, and shorten the overall length of your loan. You may make additional payments to the loan at any time, however they will first satisfy any interest accrued and then they will go to any fees and then the principal.
Home Equity Line of Credit
You could remodel a room. Or reshape your future.
With an Andrews Federal Credit Union Home Equity Line of Credit (HELOC) or Loan, there are no strings attached. While it's the value of your home that gives you access to money at a low cost, nothing says you have to spend it on a no-frills improvement project.
We do business in accordance with the Equal Credit Opportunity Act. Must be a member of the credit union to open any loan account. Rates, terms and conditions vary based on creditworthiness and qualifications and are subject to change. Additional restrictions may apply. *
APR=Annual Percentage Rate.
1$1,500 Waived Origination Fee Credit - Valid one-time only per applicant(s) on conventional fixed and adjustable rate first mortgages. Closing or refinancing of your new mortgage loan must be completed by November 30, 2023. Offer may not be duplicated and may change at any time. Offer valid with new or existing Direct Deposit relationship. Rates, terms and conditions vary based on creditworthiness and qualifications and are subject to change. Must be a member of the credit union to open any loan account.
2As a member, you may borrow up to 95% of your home’s value minus the amount remaining on your mortgage.
3First-Time home buyers may borrow up to 97% of the home’s value.
Andrews Federal Credit Union is a full-service financial institution with stateside locations in Washington, D.C., Maryland, Virginia and New Jersey, as well as overseas locations in the Netherlands, Belgium and Germany.