Jumbo Home Loans

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Dream Home - Bay Fed Jumbo Loans
Beautiful Beach Home
Bay Federal Credit Union offers a full product line of local Home Loans solutions to best serve its members. Whether you are looking to buy a new home, your first home, or refinance in California, our Home Loans options provide competitive rates, timely underwriting, and excellent member service.

Bay Federal Home Loans

  • Fixed Rate Loans

  • Jumbo Home Loans

  • 5/5 Adjustable Rate Mortgages

  • 5/6 Months, 7/6 Months and 10/6 Months Adjustable Rate Mortgages

  • Manufactured Home Loans

  • Second Mortgages

  • Equity Lines of Credit

  • First Time Homebuyers Program

If you would like a Bay Federal Home Loan Consultant to contact you, please complete and submit the following information. Please know we can only assist with home purchases or refinances in the state of California.

 

All loans are subject to approval of credit, income verification, assets, and property valuation. Bay Federal Credit Union membership required. For more information, visit any Bay Federal Credit Union branch or call a Bay Federal Home Loan Consultant at 831.479.6000, or toll-free at 888.4BAYFED, extension 304. Bay Federal Credit Union is registered with the Nationwide Mortgage Lending System (NMLS). Bay Federal Credit Union ID #403635.

197% financing is available to qualified first-time home buyers with a credit score of 620 or greater who meet underwriting approval and eligibility criteria. Loan amounts up to $970,800 in Santa Cruz and San Benito Counties, and $854,450 in Monterey County. Requires mortgage insurance approval. Property must meet specific occupancy and unit requirements. Some loan amounts only eligible for FTHB only.

2Mortgage Insurance is not required on a 30-year 5/5 Adjustable Rate Mortgage (ARM) when providing a 10% down payment on loan amounts up to $970,800 with credit scores of 700 or greater. 5/5 ARM loans are fixed for the first 5 years and are variable thereafter, adjusting every 5 years for a 30-year mortgage. Your annual percentage rate may increase after the original fixed period by no more than 2 percentage points every 5 years, with a lifetime maximum adjustment of 5% during the life of the loan.

3Mortgage Insurance is not required on a 30-year 5/6, 7/6, and 10/6 Adjustable Rate Mortgage (ARM) when providing a 10% down payment on loan amounts up to $970,800 with credit scores of 700 or greater. 5/6, 7/6, and 10/6 ARM loans are fixed for the first 5, 7, and 10 years and are variable thereafter, adjusting every 6 months for a 30-year mortgage. Your annual percentage rate may increase after the original fixed period by no more than 1 percentage points every 6 months and 2 percentage points per year, with a lifetime maximum adjustment of 5% during the life of the loan.

4Manufactured homes must be built after 6/15/1976 and be real property.

5No closing costs include lender fees, appraisal fees, title fees, and escrow fees. First-Time Homebuyer Program available to those that have not owned a property in the last three years. Offer valid on owner-occupied single-family residences for those with a credit score of 680+. Maximum loan amounts up to $970,800 in Santa Cruz and San Benito Counties, and $854,450 in Monterey County. Mortgage insurance required for loan amounts greater than 80% loan to value. Offer applicable on purchase transactions in the State of California. Offer not available on refinances. Other restrictions may apply. Terms and conditions are subject to change without notice. All loans are subject to approval of credit, income verification, and property valuation. Bay Federal Credit Union membership required at the time of closing. For more information, visit any Bay Federal Credit Union branch or call a Bay Federal Home Loan Consultant at 831.479.6000, or toll-free at 888.4BAYFED, extension 304. Bay Federal Credit Union is registered with the Nationwide Mortgage Lending System (NMLS). Bay Federal Credit Union ID #403635.

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