Purchase or Refinance

Flip Renting into Owning with a Mortgage Loan

Buying or refinancing a home is one of the most important financial decisions you will make in your lifetime. HRCCU’s mortgage loans offer competitive rates, flexible terms, and personalized guidance to help you move forward with clarity.

Whether you are purchasing your first home, upgrading to a new space, or refinancing your current mortgage, HRCCU’s mortgage solutions are designed to support your long-term financial goals.

Our members can take advantage of the following:

Competitive mortgage rates

Flexible loan terms for purchase or refinance

Personalized guidance from local mortgage professionals

Support for first-time homebuyers and experienced homeowners

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Types of Mortgage Loans

Fixed-Rate Mortgage

A fixed-rate mortgage provides stability with an interest rate that remains the same throughout the life of the loan. This option is ideal for borrowers who prefer predictable monthly payments and long-term budgeting consistency.

Fixed-rate mortgages are commonly available in various term lengths, allowing members to choose repayment timelines that align with their financial goals.

Key features may include the following:

Consistent interest rate for the life of the loan
Stable monthly principal and interest payments
Available in multiple term options

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Adjustable-Rate Mortgage (ARM)

An adjustable-rate mortgage (ARM) features an initial fixed-rate period followed by periodic rate adjustments based on market conditions. This option may offer lower initial payments and is often a good fit for borrowers who plan to move or refinance within a certain timeframe.

ARMs provide flexibility and may offer savings during the initial fixed-rate period. Key features typically include:

Lower initial interest rate compared to fixed-rate options
Rate adjustments after the initial fixed-rate period
Flexible option for short- to mid-term homeownership

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First-Time Homebuyer Program

If you’re a first-time homebuyer, HRCCU is ready to help turn your dream of homeownership into reality. Through our First-Time Homebuyer Program, qualified borrowers may receive a grant to assist with down payment and/or closing costs — making your first home more affordable.

We know buying a home can feel overwhelming, but at HRCCU, we focus on making the process simple, transparent, and stress-free. Our team will guide you every step of the way, keeping your best interests at the center of it all. Key features include:

Personalized guidance every step of the way
Grant assistance for down payment and closing costs
Expert help with loan options and pre-approval

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Mortgage Refinance

A mortgage refinance allows homeowners to replace their existing mortgages with new loans that may offer improved terms, lower rates, or a different repayment structure. Refinancing can be used to lower monthly payments, adjust loan terms, or access equity, depending on qualification.

Mortgage refinancing may provide opportunities to improve overall loan structure and long-term savings. Key features often include:

Lower interest rates
Adjustable loan term lengths
Access to home equity through cash-out options

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How to Apply for a Mortgage Loan

Applying for a mortgage loan with HRCCU is designed to provide clarity at every stage of the process. Whether you are purchasing or refinancing, our mortgage team works closely with you from applying for a loan to closing.

The application process typically includes the following steps:

Providing personal and contact information
Submitting income, employment, and asset documentation
Reviewing credit history and financial qualifications
Selecting the mortgage type and the requested loan amount
Completing underwriting review and finalizing closing documents

Members can begin their mortgage applications online or connect directly with a member of HRCCU’s mortgage team for personalized assistance.

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man on phone and laptop opening bank account

Mortgage Rates

Term	APR
30-Year Fixed	6.00%
20-Year Fixed	5.625%
15-Year Fixed	5.50%
10/1 ARM	5.75%
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Balance 50K or more, up to 60% LTV, 740+ Credit Score. Rates include a discount of .25% APR for Auto Pay from an HRCCU Account. APR = Annual Percentage Rate. ARM = Adjustable Rate Mortgage.

Member Testimonials

Why Choose a Mortgage Loan with HRCCU?

Choosing the right mortgage is a significant financial decision. HRCCU offers competitive mortgage rates, transparent guidance, and a member-focused approach to help you select a loan that aligns with your goals.

Flexible Mortgage Options

Members can choose from fixed-rate mortgages, adjustable-rate mortgages, first-time homebuyer programs, and refinance solutions. Each one is designed to support different home ownership goals.

Clear and Predictable Loan Terms

Our mortgage products feature clearly defined interest rates, repayment schedules, and closing expectations, ensuring members understand their commitments from the beginning.

Member-Centered Mortgage Support

Our mortgage professionals work with members one-on-one to explain loan options, review payment estimates, and guide them through the application, underwriting, and closing process.

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Frequently Asked Questions

HRCCU offers fixed-rate mortgages, adjustable-rate mortgages (ARMs), first-time homebuyer program, and mortgage refinance loans. Each mortgage type is designed to meet different financial goals, whether you want payment stability, lower initial rates, or updated loan terms.

A fixed-rate mortgage keeps the same interest rate and principal-and-interest payment for the entire loan term. An adjustable-rate mortgage (ARM) begins with a fixed rate for a set period and then adjusts periodically based on market conditions. Fixed-rate loans provide long-term stability, while ARMs may offer lower initial rates.

To get pre-approved, you submit income documentation, employment information, asset details, and credit history for review. A mortgage pre-approval estimates how much you may qualify to borrow and shows sellers you are a serious buyer.

Credit score requirements vary based on loan type, financial profile, and down payment. In general, higher credit scores may help you qualify for lower mortgage rates. HRCCU reviews each mortgage application individually to determine eligibility.

Mortgage rates are influenced by credit score, loan amount, loan term, property type, market conditions, and overall financial profile. Rates may change daily based on market activity. Applying for pre-approval provides a more accurate rate estimate.

The mortgage process typically takes several weeks, depending on documentation, underwriting review, property appraisal, and closing coordination. HRCCU works closely with borrowers to keep the process organized and transparent from start to finish.

Yes. A mortgage refinance may allow you to secure a lower interest rate, extend your loan term to reduce monthly payments, or shorten your term to pay off your mortgage sooner. Eligibility depends on current rates, credit profile, and home equity.

You can apply for a mortgage loan online or work directly at HRCCU branch locations in Cohoes, Corinth, Hudson Falls, Glens Falls, and Greenwich, NY. Our team serves members throughout the Capital Region.