Conventional
Secure The Financing You NeedConventional Mortgages
At Hercules First Federal Credit Union, we offer Conventional Mortgages designed to help you secure the financing you need to buy or refinance your home. Whether you're purchasing your first home, upgrading to a new one, or investing in a second property, we provide competitive rates and personalized service to ensure you get the right mortgage to fit your financial goals.
Benefits
Background & BenefitsWhat is a Conventional Mortgage?
A Conventional Mortgage is a home loan that is not insured or guaranteed by the government. These loans typically offer more flexibility and may come with lower interest rates for borrowers with good credit. Whether you're looking for a fixed-rate mortgage or a variable-rate option, a conventional mortgage can be tailored to suit your homebuying needs.
Key Benefits of a Conventional Mortgage
Up to 97% Loan-to-Value Financing
Borrow up to 97% of your home’s value, allowing for a smaller down payment.
Flexible Terms
Choose between fixed-rate or adjustable-rate options, with terms that best suit your budget and financial goals.
Low Mortgage Insurance
If your down payment is less than 20%, mortgage insurance is typically required. However, we offer low-cost options that keep your payments affordable.
Available for a Variety of Properties
Financing is available for primary residences, second homes, and investment properties (up to a four-plex).
Gift Funds and Seller Contributions
Family members can contribute to your down payment, and sellers can contribute up to 3% towards closing costs, which may also be used to buy down the interest rate.
Choose
Why us?Why Choose a Conventional Mortgage with Hercules First Federal Credit Union?
- Personalized Assistance: Our mortgage specialists work closely with you to understand your unique needs and guide you through every step of the home loan process.
- No Hidden Fees: We believe in transparent, straightforward pricing with no hidden fees.
- A Strong, Local Partner: As a member-focused credit union, we are committed to providing you with the best possible experience, with a focus on your long-term financial success.
Have Questions or Close a Mortgage - Book an Appointment to Speak to a Mortgage Specialist:
Rates
View Our RatesMortgage Rates
| Term | 1.0% Origination Fee | APR |
|---|---|---|
| 15 year | 6.000% | 6.157% |
| 20 year | 6.250% | 6.376% |
| 30 year | 6.500% | 6.597% |
Rates as of: April 8, 2025
** Rates, fees, and Annual Percentage Rates (APRs) displayed may change without notice. Actual rates, fees, and APRs may vary based on credit scores and other factors. Minimum down payment varies based on loan type selected. Mortgage loans are subject to are subject to Private Mortgage Insurance (PMI).