Mortgage and Home Equity Loans to fit your needs from an experienced lender that you can trust. Whether you're looking to buy, refinance or renovate, understanding your options is a whole lot easier when you’re working with a team of experienced mortgage professionals. Contact us today, and find out why we’ve been the #1 mortgage lender⁺ for 8 years in a row!

New!

A better mortgage is just a tap away when you apply at CharterOak.org on your mobile device! The application process has never been easier, which is one more reason why Members Bank Better at Charter Oak! Apply today on your smartphone, tablet or other mobile device! 

⁺Source: The Warren Group, Boston, MA. Residential Mortgage Marketshare Report. 2010-2017 data for New London, Windham counties combined.

CHARTER OAK OFFERS A VARIETY OF LOAN OPTIONS. 
HOW CAN WE HELP YOU TODAY?

PURCHASE           1st TIME HOMEBUYER       poLICE, military, teacher 

REFINANCE            GOVERNMENT LOANS            HOME equity loans

Free Pre-Approvals

Charter Oak offers free pre-approvals online, so you can shop for your home with confidence. Having the advantage of knowing your purchasing power gives you an advantage with the real estate professionals and sellers alike. Get pre-approved today!

GET PRE-APPROVED

Would You Like To Have Personal Assistance?

Our team of mortgage specialists are here to help you every step of the way. You can call 860.446.8085 or 800.962.3237, or email mortgages@cofcu.com to answer any questions or to ask for advice. Meet our team of experienced mortgage professionals.

Ready to Apply? Getting started is as easy as 1-2-3! 

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ACCELERATOR MORTGAGE

Thinking of refinancing a mortgage from another lender? Our Accelerator Mortgage program makes the process quick and easy with shorter terms for those who want to pay their mortgage off quickly and rates as low as 2.99%. This mortgage is especially attractive for someone planning for retirement.

• No flood certification fee!
• No document preparation fees!
• No credit report fee!
• No recording fees!
• No appraisal fees!*
• No title insurance fee!*
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account.

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

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COST SAVER MORTGAGE

The Cost Saver Mortgage offers the same great advantages as the Accelerator Mortgage listed above, with longer terms.

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

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Cost Saver and Accelerator Disclosure: *A non-refundable application fee of $455 is required. Eligible properties include refinances of 1-4 family owner occupied detached dwellings and condominiums in FHLMC approved projects located in Connecticut and Rhode Island only. Not available for refinancing of existing Accelerator Mortgage loans. Minimum loan amount of $25,000 and a maximum loan amount of $3,000,000. Maximum loan to value cannot exceed 80% of the property value. Borrower is responsible for an appraisal fee for a loan greater than $250,000 and for title insurance fees if the loan amount is greater than $500,000. Charter Oak Federal Credit Union requires escrows for taxes and if applicable, flood insurance. Borrower is responsible for homeowners insurance and pre-paid interest.

Fixed Rate Mortgage

If you expect to stay in your home for a significant length of time, and you want the security of a predictable payment, our Fixed Rate Mortgage program is the perfect solution. The rate is fixed for the life of the loan, and terms offered are up to 30 years.

• Maximum loan amounts vary for single, two, three and four family dwellings.
• Rate lock-in available.
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account.
• $100 credit towards closing costs for Gold Rewards members.
• Qualifying properties include 1-4 family owner and non-owner occupied dwellings (including condominiums) located in the states of Connecticut and Rhode Island.
• Special rates are available for Jumbo Mortgages. Click here for Jumbo Rates.

For more information or to apply, please call 860.446.8085 or 800.962.3237, send an email or APPLY NOW.

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Government Loan Options

CHFA Mortgages

CHFA Mortgages are unique to Connecticut and made available through the Connecticut Housing Finance Authority (CHFA). Borrowers benefit from low interest rates, an easy lending process and low and no down payment options for qualified borrowers. Eligible borrowers must fit CHFA’s criteria in order to participate in the program, including loan and income limits.

Benefits of a CHFA loan include:

• Available to eligible first time homebuyers and individuals interested in purchasing a home in areas targeted for revitalization.
• Low and no down payment options.
• Downpayment Assistance Program (DAP) available for qualified applicants.
• $100 credit towards closing costs for Gold Rewards members.

New!

If you are a police officer, member of the military or a teacher, you may qualify for an even lower rate! Click below for more details!* 

  Police Officer     military     teacher

To learn more or apply for one of these valuable mortgage programs, call a mortgage specialist at 860.446.8085 or 800.962.3237 or email today.

*Eligibility requirements apply. Call a mortgage specialist for full details.

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USDA, FHA AND VA Mortgages

USDA Rural Development and Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) mortgages are insured by departments within the U.S. government and allow qualified members to achieve their dream of home ownership. These loans offer borrowers a chance to obtain a home loan with easier qualification guidelines and financing options such as low and no down payment options.

Benefits of a USDA loan include:

• No down payment required, 100% financing available.
• Closing costs can be financed up to the appraised value.
• 30-year fixed interest rates.
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account.
• $100 credit towards closing costs for Gold Rewards members.

Benefits of a FHA loan include:

• Low down payment required.
• Can finance up to 96.5% on purchases and 97.75% on refinances.
• Can use gift or unsecured loans for down payment and closing costs.
• 15 and 30-year fixed interest rates.
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account.
• $100 credit towards closing costs for Gold Rewards members.

Benefits of a VA loan include:

• Available to active military members, veterans and qualified surviving spouses.
• Low and no down payment options.
• Closing costs can come from a gift.
• No monthly mortgage insurance.
• 15 and 30-year fixed interest rates.
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account.
• $100 credit towards closing costs for Gold Rewards members.

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ADJUSTABLE RATE MORTGAGE

An Adjustable Rate Mortgage (ARM) has a lower interest rate at the beginning of the mortgage, which changes over time based on an index. There are many types of adjustable rate mortgages and the terms of the payment change are based on the specifics of the adjustable rate mortgage product you select. For example, the interest rate on a 7/1 ARM is set for the first seven years and is then adjusted annually thereafter. Charter Oak offers many different ARM options to choose from. Please review the features below to see if an ARM is right for you.  

• 1/1, 3/1, 5/1, 7/1, and 10/1 ARM terms available.
• Rate lock-in available.
• Rate cap 2% - annually and 6% - over the life of the loan. This means the rate can only increase 2% per year and a total of 6% over the life of the loan.
• Qualifying properties include 1-4 family owner and non-owner occupied dwellings (including condominiums) located in the states of Connecticut and Rhode Island.
• Special rates for Jumbo ARMs. Click here to check rates.
• $25 Rebate for new loans with automatic payment from a Charter Oak Checking or Savings Account. 
• $100 credit towards closing costs for Gold Rewards members.

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

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BIWEEKLY PAYMENT OPTIONS AVAILABLE!

Pay off your mortgage sooner with our biweekly mortgage payment options! The biweekly mortgage payment is equal to half of your normal monthly payment, but paid every two weeks. Because payments are applied to principal more often, the loan is paid off sooner and results in thousands of dollars in interest saved over the course of the loan.

Biweekly mortgage payments help you build your equity faster and pay off your mortgage sooner while also enjoying these other great benefits:

• Low fixed rates!
• 15 and 30 year terms.
• Convenient automatic transfer of payments from your Charter Oak Checking or Savings Account.
• Available for Fixed Rate and Cost Saver Mortgage products.

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

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INVESTMENT MORTGAGE

Charter Oak offers loans for those interested in buying or refinancing investment properties, including one- to four-unit residential dwellings located in the states of Connecticut and Rhode Island.

• Fixed rate and adjustable rate mortgages
• 15 year or 15/25 year terms available
• Balloon payment option with lower monthly payments
• Rate lock-in available
• $25 Rebate for new loans with automatic payments from your Charter Oak Account
• $100 credit towards closing costs for Gold Rewards members.

To learn more or apply for one of these valuable mortgage programs, call a mortgage specialist at 860.446.8085 or 800.962.3237 or email today.

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Home Equity Line of Credit

For the ultimate in convenience, nothing beats a Charter Oak Home Equity Line. You can access your credit line by just writing a check. You may use the money you borrow for any purpose - home improvement, debt consolidation, education, a new car, your dream vacation, etc. - and, in most cases, the interest is tax deductible (consult your tax advisor).

• Low variable interest rate!
• Low monthly payments!
• No application fees!
• No appraisal fees!*
• No annual fees!  

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

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*Lines over $250,000 require an appraisal fee.

Fixed Rate Home Equity Loan

For home improvement, debt consolidation, education, or a new car. Whatever your personal dream is, a fixed rate home equity loan from Charter Oak is the smart way to borrow. And, in most cases, the interest is tax deductible (consult your tax advisor).

• Low fixed rates!
• Convenient terms from 5 to 15 years!
• No application fees!
• No appraisal fees!*
• No annual fees!  
• $25 Rebate for new loans with automatic payment from a Charter Oak Account.
• We can help you get a fast, affordable home equity loan!

For more information or to apply, please call 860.446.8085 or 800.962.3237 or email today.

APPLY NOW    Check Rates

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*Loans over $250,000 require an appraisal fee.

For a complete listing of our mortgage loan originators, click here.
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