Avadian Credit Union

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First Mortgages

Buying a home is probably the biggest purchase you will ever make. It can be both an exciting and stressful time. Before you start picking out paint colors and furniture, make sure you've picked the right financial institution to handle your mortgage.

At Avadian, we offer a variety of mortgages ideal for both first-time homebuyers and veteran homeowners looking for a new house or simply to refinance. Our mortgages feature:
  • Convenient terms
  • Prequalification: Find out how much you qualify for before you shop
  • Conventional fixed and adjustable rates
  • Fast closing
  • The ability to lock in a rate for an extended time period
  • Up to 97% financing
  • Lower closing costs

Fixed-Rate Mortgages vs. Adjustable-Rate Mortgages
In the great debate, on which is better... a fixed-rate mortgage or an adjustable-rate mortgage, we ask, which is better FOR YOU?

Fixed-rate mortgages offer predictable monthly payments so you can budget more easily; protection from rising interest rates for the life of the loan; and are ideal if you're looking to stay in your home for a long time.

Adjustable-rate mortgages (ARMs) start off with a great low rate and then adjust after a period of time. They also come with an interest rate cap limiting the maximum amount your payment may increase at each interest rate adjustment over the life of the loan. An ARM is mostly beneficial for those homeowners who are not looking to stay in their home for a long time. This would apply to people who move around a lot because of their job or a couple who in the near future may want a bigger home to accommodate their growing family. Moreover, an ARM could be less expensive over a long period than a fixed-rate mortgage if interest rates remain steady and move lower. You may also be able to avoid paying PMI (Private Mortgage Insurance).

To learn more about the differences between a fixed rate mortgage and an ARM, click here. To discuss your options and which mortgage is right for you, contact one of our Mortgage Specialists.

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