Find the Right Loan for You
Here at Bay Federal, we have made finding the right home loan easy for members. Select one of the tabs below to view your options!
How Much Do You Want to Finance?
Option 1: Fixed Rate Loans
Bay Federal offers 10-, 15-, 20-, and 30-year Fixed Rate Loans, allowing you to lock in one rate for predictable payments and long-term financial security.
Features:
- Down payments as little as 0% for first-time home buyers*
- Available for owner-occupied, non-owner occupied, and second homes
- Available for single-family homes, condominiums, 2-4 units, and manufactured homes
A Fixed Rate Loan May Be Right for You If...
- You prefer predictable payments
- You plan to own the home longer than 7 years
- Your income is unlikely to fluctuate much over time
Option 2: Adjustable Rate Mortgages
Bay Federal offers 5/5, 5/6 mos., 7/6 mos., and 10/6 mos. Adjustable Rate Mortgages (ARMs) to help get you into a new home, or a bigger home than what you might be able to afford with a Fixed Rate Loan.
Features:
- Lower starting interest rates than fixed loans
- More money in your pocket each month
- Available for owner-occupied and second homes
- Available for single-family homes, condominiums, 2-4 units, and real-property manufactured homes
An ARM May Be Right for You If...
- You are buying your first home
- You want lower monthly payments
- You expect to be able to afford more later
Option 3: Manufactured Home Loans
Bay Federal offers 10-, 15-, 20-, and 30-year loans‡ for manufactured homes to help you secure a home that you can enjoy for years to come.
Features:
- Loan amounts up to $350,000 for leased-land and $450,000 for co-op parks
- 90% financing available in co-ops
Financing is available only on real property or in approved parks.
Option 1: Fixed Rate Loans
Bay Federal offers 15- and 30-year Fixed Rate Loans, allowing you to lock in one rate for predictable payments and financial security.
Features:
- Down payments as little as 0% for first-time home buyers**
- Available for owner-occupied, non-owner occupied, and second homes
- Available for single-family homes, condominiums, 2-4 units, and planned developments
A Fixed Rate Loan May Be Right for You If...
- You prefer predictable payments
- You plan to own the home longer than 7 years
- Your income is unlikely to fluctuate much over time
Option 2: Adjustable Rate Mortgages
Bay Federal offers 5/5, 5/6 mos., 7/6 mos. and 10/6 mos. Adjustable Rate Mortgages (ARMs) to help get you into a new home, or a bigger home than what you might be able to afford with a Fixed Rate Loan.
Features:
- Lower starting interest rates than fixed loans
- More money in your pocket each month
- Available for owner-occupied and second homes
- Available for single-family homes, condominiums, 2-4 units, and planned developments
An ARM May Be Right for You If...
- You are buying your first home
- You want lower monthly payments
- You expect to be able to afford more later
Option 1: Jumbo Fixed Rate Loans
Bay Federal offers 15- and 30-year Fixed Rate Loans, allowing you to lock in one rate for predictable payments and long-term financial security.
Features:
- Available for owner-occupied and second homes
- Available for single-family homes, condominiums, and planned developments
A Fixed Rate Loan May Be Right for You If…
- You prefer predictable payments
- You plan to own the home longer than 7 years
- Your income is unlikely to fluctuate much over time
Option 2: Jumbo Adjustable Rate Mortgages
Bay Federal offers 5/5, 5/6 mos., 10/6 mos. and 7/6 mos. Adjustable Rate Mortgages (ARMs) to help get you into a new home, or an even bigger home than what you might be able to afford with a Fixed Rate Loan.
Features:
- Lower starting interest rates than fixed loans
- Available for owner-occupied and second homes
- Available for single-family homes, condominiums, and 2-4 units
An ARM May Be Right for You If...
- You want lower monthly payments
- You expect to be able to afford more later
Ask an Expert
We also invite you to ask an expert. Our friendly and knowledgeable Home Loan Consultants are here to help! Call 831.479.6000, extension 304, to discuss your options today. Please note that Bay Federal can only assist with home purchases or refinancing in California.
If you are not sure how much you can qualify for, find out by pre-applying or using our helpful calculator.
All loans are subject to approval of credit, income verification, 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.
*97% financing is available to qualified first-time home buyers with a credit score of 620 or greater. 100% financing available to first-time home buyers with a credit score of at least 720 for the purchase of a 1 unit primary residence.
‡30-year loans for manufactured homes only available for real-property units.
**97% financing is available to qualified first-time home buyers with a credit score of at least 680 for the purchase of a 1 unit residence. 100% financing available to first-time home buyers with a credit score of at least 720 for the purchase of a 1 unit primary residence.