We Do Home Loans

Affordable options and rates for home loans. Get Preapproved!

Bay Federal Credit Union Does Home Loans

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Here at Bay Federal, we have made finding the right home loan easy for members. Select one of the links below to view your options!

How Much Do You Want to Finance?

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.


$453,100 or less

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 3% 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

Government-Insured Loans: Bay Federal also offers access to fixed rate FHA and VA Home Loans.

Option 2: Adjustable Rate Mortgages

Bay Federal offers 5/5, 5/1, and 7/1 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

Special Feature: With a 5/5 ARM and a credit score above 700, you can avoid paying mortgage insurance with a down payment of just 10%, potentially saving you hundreds of dollars a month.

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 $300,000 for leased-land or co-op parks
  • 90% financing available in co-ops
  • Available for single or multi-wide homes

Financing is available only on real property or in approved parks.


$453,101-$679,650 §

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 low as 5%**
  • 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 

Government-Backed Loans: Bay Federal also offers access to fixed rate FHA and VA Home Loans.

Option 2: Adjustable Rate Mortgages

Bay Federal offers 5/5, 5/1, and 7/1 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

Special Feature:

With a 5/5 ARM and a credit score above 700, you can avoid paying mortgage insurance with a down payment of just 10%, potentially saving you hundreds of dollars a month.

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 on real property to help you secure a home that you will enjoy for years to come. These are available for single or multi-wide units.

Financing is available only on real property or in approved parks. Inquire at any branch for a list of approved parks.


$679,651-$1.5 million

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, 5/1, and 7/1 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

 


 

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. Loan amounts up to $453,100. Requires mortgage insurance approval. Property must meet specific occupancy and unit requirements.

‡30-year loans for manufactured homes only available for real-property units.

§Loan amounts up to $679,650 are available for homes purchased in Santa Cruz and San Benito counties. Loan amounts may vary for property in other counties.

**95% financing is available to qualified home buyers with a credit score of at least 620 for the purchase of a 1 unit residence.

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