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Home > Credit Cards & Loans > Real Estate Loans
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| With a wide range of mortgage products offered to members through, we make choosing the right mortgage the easiest part of shopping for your new home. Our goal is to provide you with the right information to help ease your mind
during this process. We make it simple to get the mortgage loan that fits your
needs and your budget.
Fixed Rate Mortgage Loans - This "traditional" type of loan maintains its original interest rate throughout the entire life of the loan. (Any change in monthly loan payments will be due to increases in other charges like insurance or taxes that will naturally occur over time.) Fluctuations in market rates, over the term of your loan, won't have any impact on the amount of interest you pay because that rate is already "fixed." These loans include terms of 10, 15, 20 or 30 years.
Adjustable Rate Mortgage Loans - First-time homebuyers no longer tend to stay in their "starter" home for 30 years and experienced homeowners often plan to payoff their mortgage long before the 30-year maturity date. Both of these types of members may benefit from choosing an Adjustable Rate Mortgage (ARM0) product with an initial fixed rate period that corresponds with the amount of time their loan is expected to be outstanding. Initial interest rates are set lower than standard fixed rates with later adjustments to the rate. This type of loan can provide you with initial lower payments or increased purchasing power.
Second Mortgage Loans -
A second mortgage can be useful to employ the equity in your home for, a purchase, debt consolidation, home improvement, college expenses or even a dream vacation. Our Second Mortgage Loan is an adjustable rate with a fixed term allowing you to go up to 85% of the value of your home, less your first mortgage balance. Second mortgages carry convenient terms of 5, 7, 10, 15 or 20 years.
Home Equity Credit Lines - A Home Equity Line-Of-Credit is a great tool for home projects, when you haven’t decided how little or how much you want to do. Planning for college expenses or a special vacation?
Home Equity Line-Of-Credits are open ended with up to 10 year draw period and up to a 20 year payback. The rate is adjustable and is based upon the current Prime Rate.
Jumbo Loans - In the market for that "once in a life time" dream house? Does your dream translate into a loan that's larger than the Fannie Mae's conventional loan limit? If you can make a large down payment and pay all your closing costs up front, you will get a lower rate by staying below this limit. However, if financing needs are greater, a Jumbo loan may be the right choice.
VA and FHA Loans - VA loans are guaranteed by the Department of Veterans Affairs and can be used to purchase a single family home (including a townhouse or condominium unit in a VA approved project), build a home, or purchase and improve a home. FHA loans are government-insured loans by the Federal Housing Administration and are ideal for first-time buyers because they help overcome the biggest
stumbling block to ownership; the down payment. FHA loans are also beneficial
for buyers with less-than-perfect credit.
Building Lot Loans - Do you need help purchasing that vacant lot on which you'll be building your dream home? ChevronWest offers a Lot Loan to help make that purchase a reality! Whether it is a loan in an existing subdivision, a new development, or out in the country, we make borrowing for a lot loan easy and convenient. We loan up to 60% on improved lots and 50% for unimproved lots.
Your next loan is just minutes away!
Apply online—or stop in for a visit or call our loan department toll free at 877-208-8364. We'll help you through the application process and get you approved in no time.
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