Home lending doesn’t have to be stressful. With our dedicated team, you’ll receive:
We’re here to support your financial wellness through one of life’s biggest milestones.
Whether it’s your first home or your next chapter, getting pre‑approved helps you shop with confidence.
Take our Mortgage Quiz to find the right Century Federal mortgage loan for you.
Calculate how much home you can afford, or how refinancing can help you save money each month, take time off of our mortgage, or possibly both!
There is much more to consider than just your monthly payment.
While these costs will vary from home to home, you’ll want to know what they are before making a final purchase offer.
You may be able to deduct your interest and property tax (always consult a tax advisor to further discuss)
Before you purchase your first home, there are important things to do and know
Depending on the amount you have saved for a down payment, your mortgage payment should typically be no more than 28% of your monthly income, and your total debt should be no more than 36%, although debt ratios have some flexibility, depending on the mortgage type you choose.
Generally, a better credit score will help you get a better interest rate on your mortgage. And even a small improvement in your score can have an impact on your monthly payment and potentially save you thousands of dollars over the course of your loan.
Lastly, you’ll need to have some money tucked away for extra costs beyond your monthly mortgage payment. These costs include your down payment and closing costs.
With competitive rates and rising home values, refinancing may help you:
Even if your current mortgage is with another lender, you can bring it to Century Federal and save big.
If rates drop while your application is being processed, your rate drops too — automatically. And if rates rise again, your lower rate stays locked. It’s our way of ensuring you always receive the best possible rate.
Determine how low your monthly payments could go after refinancing with Century Federal!
Refinance to a lower rate or pay off your loan faster with a shorter term.
Use the equity in your home to pay for home improvements, a down payment on a second home or college tuition.
Refinance to lock in a new rate and ensure a stable payment for the life of your loan.
Century Federal has partnered with myCUMortgage® to offer VA and FHA loans to our veterans, and to members seeking more affordable home loan options. The down payment requirements with these loans types is typically as low as 3.5% of the current market value of your home.
Let our mortgage professionals help you determine the mortgage product that best meets your needs. Get started today and contact our Mortgage Loan Consultant at 216-535-3211.
A second mortgage is a loan that lets you borrow against the value of your home. Your home is an asset, and over time, that asset can gain value. This is a good idea for you if you’re thinking about debt consolidation, home renovation projects, paying off student loans or wanting to take a vacation.
A HELOC is a loan set up as a line of credit for some maximum draw, rather than for a fixed dollar amount. So technically, it works like a credit card. Similar to a second mortgage, you borrow against the value or equity in your home. This is a very versatile loan type and can be used for all the same purposes as the Term-Second Mortgage.
