Rates can be unpredictableWith our Adjustable Rate Mortgage, you can get the best of both worlds. You can lock in your rate for up to 10 years plus your rate will go down if rates fall so you don't have to worry about refinancing.
- Lower interest rate at time of purchase
- Ability to lock in rate for 5, 7 or 10 years
- Minimum down payment as low as 5%
- Competitive interest rates available for Veterans & Jumbo Loans
After completing your application, a Mortgage Originator will contact you to introduce himself or herself and to answer any questions you may have. Your Mortgage Originator is a mortgage expert and will provide help and guidance along the way.
We will send preliminary application documents for you to review and sign. We will also send you a list of items that will need to be verified, referencing the information you provided about your finances during the online application.
We will order the appraisal from a licensed appraiser who is familiar with home values in your area.
Title insurance will be necessary. If you’re purchasing a home, we will ensure the title work is ordered as soon as possible. If you are refinancing we will take care of ordering the title work for you. We’ll use the title report to confirm the legal status of your property and to prepare the closing documents.
- Your most recent year’s W-2s
- Your most recent pay stub
- All pages of your most recent bank statement
- Have an idea of your outstanding debts
For Adjustable Rate Mortgages, the APR can be even more confusing. Since no one knows exactly what market conditions will be in the future, assumptions must be made regarding future rate adjustments. You can use the APR as a guideline to shop for loans but you should not depend solely on the APR in choosing the loan program that’s best for you. Look at total fees, possible rate adjustments in the future if you’re comparing adjustable rate mortgages, and consider the length of time that you plan on having the mortgage.
Don’t forget that the APR is an effective interest rate—not the actual interest rate. Your monthly payments will be based on the actual interest rate, the amount you borrow, and the term of your loan.
Meet Our Lending Team
Our experienced mortgage lenders are happy to explain all of our loan options and guide you through the application process.
Need to be pre-approved? Just fill out the form below and we get you on your way to owning your home!
For a list of WCCU employees currently licensed with a NMLS#, visit the NMLS Consumer Access website or feel free to contact us.
We joined right after WCCU opened. Needed a loan to pay off some bills. Everyone is so helpful and always has a smile for you. Always made me feel like part of the family. For me...the WCCU is the only place to bank! Thank you so much for such great service over the many years!Gerry M. of Westerly
We joined the WCCU many years ago because we really got tired of the big banks with their big fees and lack of community. We stayed because they treated us like we mattered. They valued their members by offering great rates on mortgages and HEQ loans. When my husband became ill, they worked with us until we could get back on our feet. Only small hometown banks offer this type of service.Deanna C. of Westerly
WCCU helped my wife and I pay off our mortgage. We have been mortgage-free for over a year now and have gained financial freedom.David I. of Charlestown