Skip to main content Skip to footer site map
Login Form
Site Search Form
Exit Search

Find a Mortgage that's Right for You

MORTGAGE OPTIONS


Mortgages are not one-size-fits-all. To find a loan that’s best for you, it’s important to know all your options.

Take advantage of these exclusive options from NASA Federal!
We have various mortgage options to fit your unique situation.

  • Fixed-Rate Conventional Mortgages
  • Adjustable Rate Mortgages
  • FHA Mortgages and VA Loans
  • First-Time Home Buyers
  • Reverse Mortgages

Apply Now Mortgage Options.

mortgage-options

Fixed-Rate Mortgage

Available in a conventional option, a fixed-rate mortgage offers a set monthly payment through the life of your loan. This mortgage option is a good fit for you if:

  • You want the stability of a fixed principal/interest payment
  • You plan to stay in your house for many years

Apply Now for a Fixed-Rate Mortgage.

Adjustable Rate Mortgage (ARM)

Adjustable rate mortgages start out with an initial rate that is typically lower than a comparable fixed-rate mortgage, and have monthly payments that can move up and down as interest rates fluctuate. ARMs have different options for how long the initial interest rate will be in effect before it adjusts to market conditions. This mortgage option is a good fit for you if:

  • You’re planning on moving before the end of the initial rate period
  • You expect your income to rise enough to cover any increase in interest rate
  • You need a lower initial monthly payment than available through fixed-rate mortgages
  • You think interest rates may fall in the future

Apply Now for an Adjustable Rate Mortgage.

FHA Loans

FHA loans are mortgages insured by the Federal Housing Administration (FHA). They offer more lenient underwriting standards and rates along with lower minimum down payments – but they do require mortgage insurance.** This mortgage option is a good fit for you if:

  • You are a first-time homebuyer
  • You have less-than-perfect credit

Apply for a FHA Loan

**You must meet certain FHA guidelines to qualify for an FHA loan. FHA loans through NASA Federal Credit Union are currently available for properties located in all states with the exception of Alaska, Hawaii, and New Jersey.

VA Mortgage

VA loans are available to military veterans and active military members. (View eligibility requirements.) These loans are guaranteed by the Department of Veterans Affairs and do not require mortgage insurance. This mortgage option is a good fit for you if:

  • You have veteran eligibility
  • You have little or no down payment
  • You have low-to-moderate income
  • You have less-than-perfect credit
  • You need to finance closing costs (refinance only)

Apply Now for a VA Mortgage

First-Time Home Buyer

One of the most challenging obstacles to buying your first home is saving enough money for the down payment and closing costs. Our First-Time Homebuyer Program is the perfect fit, with:

  • As little as 3.5% down payment required
  • More flexible qualifying guidelines than conventional mortgage loan plans

Apply Now as a First Time Home Buyer

Reverse Mortgage

A Reverse Mortgage provides homeowners (age 62 and above) with the ability to convert the equity in their homes into tax-free income or extra cash without having to sell the home, give up the title, or take on new monthly mortgage payments. With a Reverse Mortgage the payment stream is actually reversed: instead of making monthly payments to a lender (like a regular mortgage) a lender makes payments to the homeowner. Reverse Mortgages are offered through our affiliated mortgage partner, Credit Union Mortgage Association.

This is a great option for you if you:

  • Are at least 62 years old
  • Want to reduce your monthly financial burdens
  • Need to supplement your income to offset medical expenses, pay for home repairs/improvements, etc.
  • Need to pay down existing debt
  • Want to use the equity in your home now to help grandchildren or loved ones

Apply Now for a Reverse Mortgage


Membership and eligibility required. Some restrictions may apply. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. NMLS #486583.

 

Payment Example: A $250,000 30-year fixed rate with zero points and an interest rate of 3.625% (3.750% APR) would have a monthly principal and interest payment equal to $1,140.13. The monthly payment shown does not include PMI, taxes, insurance or other applicable escrows. The actual payment obligation will be greater when these are applied.

Confidential information such as account numbers and social security numbers should not be sent by email for security reasons. Instead, please contact us directly at 1-888-NASA-FCU, send us a secure message through eBranch Online Banking or Mobile Banking, or visit your nearest branch.

You are now leaving nasafcu.com and entering a third party website that is not part of NASA Federal Credit Union.

The content you are about to view is produced by a third party unaffiliated to NASA Federal Credit Union. NASA Federal takes no responsibility for the content of the page.