Benefits of a HomeFree Home Loan From JHFCU
No Closing Costs
Save on fees so you pay less than you would for a typical refinance.
Lower Your Rate
Find out if you qualify for a lower APR than your current mortgage.
Shorten Your Term
Choose a term from 6 to 15 years, then you can own your home free and clear!
No need to send payments out of state – we'll service your loan here.
HomeFree Home Loans: What You Need to KnowApply Now
Enjoy These Features With Your HomeFree Home Loan
Get great home loan rates so more of your payment goes towards the principal.
Use our mortgage calculator to find out what you could save.
Our highly qualified mortgage loan originators can guide you through the entire process.
Simple Fund Transfer
Easily pay your mortgage by transferring funds from your JHFCU Checking or Savings.
Have questions? Email our award-winning mortgage department at [email protected]
HomeFree Home Loan FAQs
Who Is a HomeFree Home Loan for?
This special home loan is a more affordable option than a traditional mortgage refinance, but you can enjoy all the same benefits. This loan could be right for you if:
You want to pay off your existing first mortgage, or you have no mortgage on your home.
You want to lower your rate and save on interest.
You want to shorten your term and own your home free and clear sooner than you would with your existing mortgage.
You want to avoid traditional refinance closing costs.
You want a loan amount between $25,000 and $300,000.
You want the loan for a primary residence in an eligible state (Maryland, Virginia, Washington DC, Delaware, and Pennsylvania).
What are the advantages of a HomeFree Home Loan?
The main advantage of this loan is that you don't need to pay closing costs, as you would for a traditional mortgage refinance.
But do note that closing costs will be added back to your loan balance if the loan is paid off within three years. The typical term is between 6 and 15 years.
What rate will I get?
There's a chance the rate you get for your HomeFree Home Loan will be lower than your existing mortgage, so you can save on interest. Your new rate will be based on your current financial situation, debt-to-income (DTI) ratio, and credit score (higher scores get lower rates).
The term you choose also impacts your rate. Shorter terms give you a lower rate and let you pay off your loan sooner, but your monthly payment is higher. Longer terms give you a slightly higher rate and you pay more total interest, but your monthly payment is more affordable.
How can I make my loan payments each month?
There are many options for making a payment to your JHFCU HomeFree Home Loan:
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 home loan?
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.
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