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Andrews Federal Credit Union
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Mortgage Loans

Your new home is only a few steps away.
  • Low mortgage rates on several different home loan types
  • Access to experienced Mortgage Loan Officers
  • Reduced down payment options available
  • Special loan opportunities for military members

You need to make some decisions. We can offer some friendly guidance.

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.  

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.

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Apply Now

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.

CHECK RATES

Apply Now

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.

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Apply Now

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.

  • Choice of loan lengths: 10, 15, 20 or 30 years
  • Borrow up to 95% of the home's value1
  • Refinance your existing loan to save on interest charges or reduce monthly payments

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Conventional Adjustable-Rate Mortgages

A little flexibility can offer a lower monthly payment

  • Loan amounts up to $1,000,000
  • Borrow up to 95% of the home's value1
  • 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

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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

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First-Time Home Buyers

Make your dreams a reality with a lower down payment

  • 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 $5,000. (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

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Streamlined Refinance Program

Refinance with less time, hassle, and paperwork.

Allows for existing members who's mortgage loan is held by Andrews Federal Credit Union to refinance with less time, hassle and paperwork. If you are considering refinancing your Andrews Federal mortgage loan, please contact us to discuss streamlined refinance options available to you.

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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.  

Home Center

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.

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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.

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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.

  1. Multiply the unpaid balance times the interest rate.
  2. Multiply the answer obtained in step one times the exact number of days between the loan disbursement (if the 1st payment) or payments.
  3. 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.

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17-Month Winter Share Certificate Special Offer

Move your money and earn more!

Move your money to a Share Certificate and you'll earn more on your money with higher dividend rates. Our Winter Share Certificate special offer gives you 4.05% APY* for 17-months with $1,000 minimum to open the account.

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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.

1As a member, you may borrow up to 95% of your home’s value minus the amount remaining on your mortgage.

Andrews Federal Credit Union is a full-service financial institution with stateside locations in Washington, D.C., a variety of Maryland counties including Prince Georges, St. Mary’s, Calvert and Charles, Northern Virginia and New Jersey, as well as overseas locations in the Netherlands, Belgium and Germany.