A longer mortgage term can hold down your monthly payments. A shorter term can often save you money over time and build equity in your home quicker. When you have questions, we're here for you at every step, from getting prequalified for a mortgage to searching for the right home and mortgage to closing the deal.
- Choose mortgage terms of 15, 20 or 30 years*
- Competitive rates and low closing costs
- Money-saving refinancing options available
- Mortgage interest may be tax-deductible (Consult your financial advisor)
Learn about CUTX mortgage lengths and find the right one for you.
Though you'll pay more each month, you can save thousands in interest charges over the life of the loan and eliminate your debt much faster.
This loan term is rapidly becoming more popular, as it offers lower monthly payments than a 15-year mortgage but still reduces overall interest charges and builds equity quickly.
The most common home loan usually features the lowest monthly payments and, often, the most tax advantages. Want to pay off your loan quicker?
15/20/30-Year Mortgage FAQs
- Get started above, or give us a call! A consultation with one of our mortgage lending specialists will lead to you getting pre-qualified for a loan.
- Our mortgage lending team can find out what loan amount you may qualify for and help you pick the best type of loan for you to buy the home of your dreams.
- They can also help you create a strategy for coming up with a down payment and getting your finances in order as you work towards buying your new home.
I simply love this credit union location. My family has gotten several auto loans and personal loans there. I have been a member for over 30 years and my children have accounts also.
NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. CUTX home loan programs are only available in Texas. Loans are subject to credit approval, CUTX's lending policies, and property approval. Prequalification is not a commitment to lend. Membership required.
A typical 20-year conforming $300,000 loan with a fixed rate of 4.75% (4.941% APR) would have 240 monthly principal and interest payments of $1,938.67.
A typical 30-year conforming $300,000 loan with a fixed rate of 5.125% (5.268% APR) would have 360 monthly principal and interest payments of $1,633.46.