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Types of Loans

30-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer.

15-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, with a lower interest rate and higher monthly payments—and you'll own your home twice as fast. 

Fixed and Adjustable Rate Jumbo Loans
Jumbo loans are mortgages that exceed conventional borrowing limits. RTN has jumbo loans up to $1,000,000 for qualified members. Fixed rates on RTN jumbo loans are available foterms of 10, 15 and 30 years.  Adjustable rates on RTN jumbo loans are available for 3/3, 5/1 and 7/1 ARMs.

Adjustable Rate Mortgages (3/3 ARM, 5/1 ARM, 7/1 ARM)
RTN offers 3/3, 5/1 and 7/1 Adjustable Rate Mortgages (ARM) which have lower interest rates and fixed payments for a certain period of time,  then the rates adjust to rates current when the term ends.  For example, a "5/1 ARM" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years.

No Closing Cost Programs
Closing costs are expenses (including title, recording and processing fees) that occur during the transfer of property from the seller to the buyer.  You can receive no closing cost loan options on a choice of RTN mortgages.  

First-Time Home Buyer Programs
We have special financing available for first-time home owners.

Helper Loans feature 0.5% discount off the current mortgage rate for the first three years at fixed rates from 10 to 30 year terms for a one or two family home or condo, with funding up to $424,100 and no income limit.

Fixed-Rate Home Equity Loan (Second Mortgage)
Homeowners receive funds by borrowing against the equity in their homes (using their home as collateral) to make home improvements, pay off other loans on theior property or for any other reason. The loan is paid off in a fixed period.


RTN Federal Credit Union
600 Main Street, Waltham, MA  02452
Direct:  (781) 736-9859
Copyright © 2019 RTN Federal Credit Union
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