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Mortgages

Buying a Home

Whether you're looking for your first home, making a move to a new community, or on the hunt for a second home or vacation getaway, buying a house is a rewarding experience. We want to keep it that way. We offer various mortgage types to suit your needs and are here to answer any questions you have during your home-buying process.
 

Refinancing Your Home

Love your home, but not your loan? Refinancing your mortgage means you get a new home loan to replace your existing one. Whether you're looking to lower your interest rate to save money or wanting to take advantage of a cash-out refinance to tap into your home's equity, we're here for you.


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15-Year Fixed

As low as

6.871 % APR*

20-Year Fixed

As low as

6.797 % APR*

30-Year Fixed

As low as

6.979 % APR*

*APR=Annual Percentage Rate. Mortgage APR examples above are based on the assumption of a $225,000.00 first mortgage loan amount with a minimum of 20% Down Payment (no Private Mortgage Insurance [PMI] required). To qualify for this APR, a minimum direct deposit of $500 per month into a First Atlantic deposit account is required (without add .125%). Rates may change based on creditworthiness, property type, and several other factors. Please contact us for more information. Rates subject to change at any time and without notice. 

 

Fixed-Rate Mortgage

With a fixed rate conventional mortgage, you'll have peace of mind knowing your monthly principal and interest payments will remain exactly the same, for the life of the loan. Fixed-rate loans are available in 10-, 15-, 20-, and 30-year terms and make budgeting easy.

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Adjustable Rate Mortgage

An Adjustable Rate Mortgage, sometimes referred to as an ARM, has a lower rate and lower monthly payments for the first 5 or 7 years, depending on the term you choose. After an initial period, your rate and payment may change, based on interest rates at the time.

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Jumbo Rate Mortgage

If you need a home loan over $647,200, then consider a Jumbo loan. A Jumbo loan offers low rates and a choice between fixed and adjustable rates.

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Veteran (VA) Mortgage

If you’re an active military member, veteran, or surviving spouse, a Veterans Affairs (VA) mortgage makes home-buying easier. All VA loans are guaranteed by the federal government and offer borrowers no down payment and no mortgage insurance.

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First-Time FHA Mortgage

Are you a first-time homebuyer or worried you don't have enough money for closing costs or a down payment? With a Federal Housing Administration (FHA) loan, your down payment could be as little as 3.5%, and you can apply with less-than-perfect credit history. 

Apply Online

Unsure Which One is For Me

If you're not sure which mortgage is right for you, speak with one of our mortgage lending advisors and they'll help you determine the loan that best suits your needs.

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First Time Home Buyers


Get Pre-Qualified for a Conventional Mortgage.

Pre-approval gives you an idea of how much money you can borrow, guiding your search for a home. This does not apply to VA or FHA Loans.

Get Prequalified
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First Responders Loan Discount

Qualifying members for this program include:

  • Firefighters (paid and volunteer)
  • Police Officers
  • EMTs (paid and volunteer)
  • Paramedics
Learn More
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First-Time Homebuyers Program

The Monmouth County Office of Community Development office has developed The First-Time Homebuyers Program to provide financial assistance to low- and moderate-income eligible county residents interested in purchasing a home. Financial assistance is provided in the form of a deferred second payment mortgage loan not to exceed $10,000 that may be used towards down payment and/or closing costs.
 

Download Overview
 

FAFCU Home Buying Guide Cover


Home Buying Guide

The home buying process can be overwhelming so it’s best to be prepared. That's why we put together a Home Buying Guide to help you from start to finish. In this guide, you'll find information for each step of the home buying process.

  • Info on the types of mortgages and what you need to know
  • Checklists for documents, home buying, and moving
  • Worksheets to determine your dream home and estimated costs
  • Tips on making an offer and information on the appraisal and inspection


Download Now
 

 

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