HomeFree Home Loan

Benefits of a HomeFree Home Loan From JHFCU

JHFCU Pays Closing Costs

We’ll pay your closing costs* (except for interim interest charges) as long as your loan remains open for at least three years.

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!

Local Servicing

No need to send payments out of state – we'll service your loan here.


HomeFree Home Loans: What You Need to Know

A HomeFree Home Loan is designed for people who have significant home equity, can afford a loan term of 15 years or less, and want the benefits of a refinance – without the cost.Happy Couple at their home

  • See if you can lower your rate or change your term to meet your goals.
  • The loan is for refinances only – not for purchases.
  • Unlike a traditional refinance, you don't need to pay closing costs.**
  • Terms are available from 6 to 15 years.***
  • You need at least 25% equity in your home or a loan-to-value ratio of 75% or less.
  • Finance amounts between $25,000 and $300,000.
  • Local loan servicing means you'll always know who you're dealing with.

HomeFree Home Loans are available for primary residences in Maryland, Virginia, Washington DC, Delaware, and Pennsylvania.


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"Such a humanizing experience. They recognize you as a person and not just a number on a spreadsheet. Best feeling ever!"

– Joanna J., Baltimore, MD

Enjoy These Features With Your HomeFree Home Loan

Competitive APR

Get great home loan rates so more of your payment goes towards the principal.

Quick Application

Choose Mobile BankingOnline Banking or call our team.

Handy Calculators

Use our mortgage calculator to find out what you could save.

Lending Specialists

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 offers a cost-effective alternative to traditional mortgage refinancing, delivering the same benefits. Whether you're looking to pay off your existing mortgage, lower your interest rates, expedite homeownership, or avoid standard refinance closing costs, this option accommodates your needs. The loan, ranging from $25,000 to $300,000, is tailored for primary residences in eligible states such as 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-Person

    NOTE: 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, learn more 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 Ways We Can Help With Home Loan Financing

Fixed-Rate Mortgage

Choose your term and enjoy the peace of mind that comes with knowing your rate and monthly payment will stay the same through the life of your loan.



Learn More

Home Equity Loans and Lines of Credit

Pay for renovations, weddings, college, debt consolidation, and more simply by leveraging the equity in your home.


Learn More

*The closing costs will be added back to the loan payoff balance if the loan is paid in full within the first three years. 

**Closing costs will be added back to loan balance if the loan is paid off within three years

***Rates are determined by an evaluation of the applicant’s credit, loan-to-value (LTV), and upon refinancing your non-JHFCU loan. Your actual rate may vary. Down payment may be required.  Property and flood insurance may be required, therefore the actual payment obligation would be greater. Rates are subject to change. Calculate estimated payment.