Features of a Fixed-Rate Mortgage
Budgeting is easy with the same competitive rate for the life of your loan.
Choice of Terms
We offer fixed-rate loan terms between 10 and 30 years to fit your goals.
Low Down Payment
Buy a home sooner with a down payment starting as low as 3%.
Fixed-Rate Mortgage Details
A fixed-rate mortgage is ideal if you're looking for a set payment for the life of your loan.
- Your competitive APR won't be affected by changes in the markets.
- You don't need to buy down your rate with mortgage points.
- You can choose a term of 10, 15, 20, or 30 years* depending on
your budget and goals.
- Get started with a down payment as low as 3%.
- Cancel private mortgage insurance (PMI) when you meet equity requirements.
- You can use your fixed-rate loan to purchase or refinance both primary and secondary residences.
JHFCU fixed-rate mortgages are available in Maryland, Virginia, Washington DC, Delaware, and Pennsylvania.
Enjoy These Benefits With Your Fixed-Rate Mortgage
Enjoy the home loan rates you deserve and the peace of mind of knowing your payments are set.
Find out exactly how much home you can afford with our mortgage calculator.
Our experienced loan officers can guide you through the qualifying process and beyond
Just transfer funds from your JHFCU Checking or Savings to your mortgage account.
Find Out More About Applying for a Fixed-Rate Mortgage!
Fixed-Rate Mortgage FAQ
What is a fixed-rate mortgage loan?
A fixed-rate mortgage means you get the same competitive annual percentage rate (APR) throughout the life of your home loan. Your rate won't go up or down with the markets, so your monthly mortgage payments will stay the same.
A fixed-rate mortgage makes budgeting easy.
What rate will I get?
The APR for your fixed-rate mortgage will be based on a number of factors, including your credit score, loan term, property type, and transaction type.
How do I know which loan term to choose?
Different terms bring different rewards. At JHFCU, you can choose from 10, 15, 20, and 30-year fixed-rate mortgage terms. The most popular mortgage in the U.S. is a 30-year fixed-rate loan!
Shorter terms mean you'll get a lower rate and pay off your loan sooner, but your monthly payment will be higher.
Longer terms mean you'll get a slightly higher rate and pay more total interest over the life of the loan, but your monthly payment will be more affordable.
You can talk to one of our experienced loan officers to find the right term for you.
Will my rate ever change?
Your rate will change only if you choose to refinance your mortgage. Refinancing is a popular tool you can use to negotiate a lower rate or to change your loan term so you can get a higher or lower monthly payment.
Reasons you might refinance and get a lower APR:
Market interest rates fall below the rate you got when you took out your loan.
Your credit score significantly improves so you may qualify for a lower rate.
How can I make my loan payments each month?
There are many options for making a payment to your JHFCU fixed-rate mortgage:
Online Transfer: Set up a recurring transfer or make a one-time transfer online from your checking, savings, or another transactional account to your mortgage account. Payments are credited and account balances are updated immediately.
JHFCU TeleBranch 24: Transfer your payment from a JHFCU account to your mortgage; just use your loan suffix number (EX: XXXXXXXXX-XX.)
Pay Online from an Outside Bank: Set up JHFCU as a payee using your 9-digit JHFCU Account number - 2-digit loan suffix number (EX: XXXXXXXXX-XX.)
Pay by Check at a Branch or via Mail
Pay by Transfer In-PersonNOTE: When setting up Online Bill Payment from an outside account, use JHFCU’s main address, 2027 E Monument St, Baltimore, MD 21205
Do I need to be a member of Johns Hopkins Federal Credit Union to get a mortgage?
Yes, you'll need to become a member first. Joining is quick and easy, see our eligibility requirements and fill out your application here!
Then you'll be set to use your loan funds while enjoying all the benefits of credit union membership, like great rates and friendly, local service.
More Home Financing Options for You
HomeFree Home Loan
If you have significant equity in your home, you could enjoy the benefits of a refi without the closing costs. Potential to lower your rate or change your term.
Home Equity Loans and Lines of Credit
Leverage the equity in your home to pay for renovations, weddings, college, debt consolidation, and more.