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  • Apply for a Mortgage

    Completing our online application is as easy as 1-2-3. Get started today!

  • ECU Title & Escrow

    ECU Title & Escrow is a full-service real estate settlement company that helps members complete the home buying or selling experience at an ECU branch.

  • Find a REALTOR

    Realtors are knowledgeable in many phases of the home buying and home selling process and can be a valuable resource to you.

  • Watch Mortgage Videos

    Have questions about purchasing, building or selling a home? Check out these helpful videos, covering a broad range of mortgage topics.

Have Mortgage Questions?

Calculate Your Answers

So many financial decisions are involved when purchasing or refinancing a home. Should you buy or rent? Will refinancing save you money? How much would your monthly payments be? Our calculators are designed to answer these questions and more.

Mortgage Calculators

Compare Mortgages

Which loan is right for you? See the chart below for unique features of each. If you need help, please contact us or give us a call at 800.999.2328.

Loan TermMaximum Loan To ValueTermMortgage InsurancePrepayment Penalty
Fixed & Adjustable Rate Mortgages97.00%15/20/30 yearYesNo
Federal Housing Administration (FHA)96.50%15/30 yearYesNo
Veterans Administration (VA)100.00%15/30 yearYesNo
USDA100.00%30 yearYesNo
First Time Home Buyers Program105.00%30 yearNoNo
ECU 100 Mortgage100.00%15/20/30 yearNoNo
ECU Purchase Plus105.00%15/30 yearNoNo


  • What is an Adjustable Rate Mortgage?

    An adjustable rate mortgage (ARM) is a home loan with an interest rate that can change periodically. This means the monthly payments can go up or down. An ARM begins with a lower interest rate, which means your monthly payment will be more affordable, at least for as long as the rate is fixed.

  • What does a 5/1 ARM mean?

    The most popular adjustable rate mortgage is the 5/1 ARM. The “5” in 5/1 means the ARM’s introductory rate lasts five years. After that, the interest rate can change every year. Some lenders offer 3/1, 7/1, and 10/1 ARMs.

  • How is the interest rate determined on an ARM?

    After the fixed period ends, an ARM’s interest rate moves up and down with the index interest rate which is set by market forces and published by a neutral party. To set the ARM rate, the lender takes the index rate and adds an agreed-upon margin.

  • Is there a limit to how much your payment amount can increase with an ARM?

    Yes. You’re protected from huge year-to-year increases in monthly payments because ARMs come with caps limiting the amount by which rates and payments can change.

  • Who should consider getting an ARM?

    Homeowners who want lower initial payments or a more mobile first-time homebuyer who plans to move in a few years. Also, if you’re advancing in a career that could require you to move to another city within a few years, an ARM could be a good choice.