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Let’s get started!

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Need a mortgage? 
Talk to us first! We’re here to help.

One of your advantages as a Chevron Federal Credit Union member is access to some of the best mortgage financing options available anywhere.

Whether you are interested in buying a new home, financing a vacation home, or refinancing your current mortgage, our Mortgage Relationship Managers can help you find the best mortgage solution for your needs.

Already have a mortgage with us? From now until March 31, we're waiving our lender fees for members who want to refinance or modify their current Chevron FCU mortgage!1

Complete this form, and we’ll give you a call to talk. Or if you're ready, you can apply now online or call us directly at 888-334-5120.

Get started now!Get started now!

What refinancing options do you offer?

Our traditional refinance allows you to exchange your current mortgage for a new one with different rates and/or terms. This can help you to lower your monthly payment or pay off your mortgage faster. You may be able to roll your closing costs into your balance so you don’t have to pay them up front.

A cash out refinance allows you to cash out up to 80% of the equity in your house.2 The amount cashed out is added to your mortgage balance. Depending on your current interest rate3 and the amount of time left on your current mortgage, cash out refinancing may also lower your monthly payment or allow you to pay off your mortgage sooner.

An Xpress allows members with existing Chevron Federal Credit Union mortgages to lower their rate without a lot of work.4

And since we are modifying an existing loan, we do not require:

  • A new credit pull
  • A full property appraisal

 

How can you help me purchase a home?

Chevron Federal Credit Union offers fixed rate mortgages as well as adjustable rate mortgages (ARMs) in a variety of terms.

Fixed rate mortgage payments will not change over the life of your loan because your interest rate is 'fixed' and cannot change. We offer fixed rate mortgages in 30, 20, 15, and 10-year options.

Adjustable rate mortgages offer a lower starting interest rate and therefore, a lower monthly payment. Your rate and your payment may increase, though, as time goes on. Our ARMs are available in 15 and 30-year terms and provide an initial fixed rate period of 1, 3, 5, 7, or 10 years before the rate adjusts.

We also have special programs, including:

  • First Time Homebuyer Loans, allowing first time buyers to put as little as 3% down
  • 80-10-10 Loans, helping you avoid the expense of private mortgage insurance if you do not have a 20% down payment
  • Asset Based Loans, empowering retired borrowers with significant assets but little income to purchase property


What are the benefits of a home equity loan or line of credit?

A refreshed kitchen, a new master bathroom, and a welcoming outdoor patio are just some of the home improvement projects you could finance when you borrow against your home’s equity.

Home equity is the market value of your home minus your remaining mortgage balance. You gain equity through market appreciation and monthly payments towards your principal balance.

A home equity loan is a lump sum loan that you pay back in fixed monthly installments. 

  • Lock in your interest rate for the life of the loan
  • Spread the cost of expensive home improvements over time
  • Use leftover funds for debt consolidation, school expenses, and more

A home equity line of credit is a revolving line with a variable interest rate. Lines are available for up to $350,0005 depending on your credit and your home’s value.

  • Open a line of credit with zero closing costs and no annual service fee6
  • Have the flexibility to tap funds whenever you are ready for them
  • Easily tap your line with checks, a HELOC debit card, or account transfers

1If a member with an existing Credit Union mortgage applies for a traditional or cash-out refinance of that mortgage between January 11 and March 31, 2021, the Credit Union will waive processing, closing, and application fees equal to $715. Third-party fees and taxes (such as transfer taxes and escrow and recording fees) will not be waived.

If a member with an existing Credit Union mortgage requests an Xpress loan modification of that mortgage between January 11 and March 31, 2021, the Credit Union will waive the loan modification fee (which ranges from $1,500 to $4,000 depending on loan amount).

2 The Maximum LTV (loan-to-value ratio) for a cash-out first mortgage is 80% on a single unit principal residence and 75% on a 2–4 unit principal residence. For a second home/vacation property, the maximum LTV is 75%. For an investment property, the maximum LTV is 75% on a single unit property and 70% on a 2–4 unit property. Cash-out loans are not available for properties purchased in the prior six months unless the property was purchased with cash. If the property was listed for sale in the prior six months, the maximum LTV is limited to the lower of 70% or the maximum allowed per the above.

3 Purchase rate for a 30-Year Fixed Rate conforming mortgage as of 1/19/21 is 2.750% (2.805% APR) and subject to change without notice. Payment example: For a $200,000 loan amount and a 30-year conforming rate of 2.750% (2.805% APR), estimated payment would be $816.48 per month. Payment does not include taxes and insurance. Actual payment may be higher. All loans subject to approval. Terms are subject to change at any time without notice. APR = Annual Percentage Rate

4 The Xpress loan modification program is only eligible on existing mortgages that have made 12 on-time payments. Your actual Xpress rate will be determined on the date you request your loan modification  Xpress rates are subject to change without notice.

5 Credit limit based on your creditworthiness. Please contact the Credit Union for the minimum and maximum loan amounts for the various Combined Loan-to-Values (CLTVs).

6 If account is closed within three years of opening, early closure fees will be added to the Account Balance in the amount of $500 for credit lines up to $100,000 and $700 for credit lines above $100,000. Early closure fees are not accessed where prohibited by state law or when the account is closed as part of a Credit Union refinance.  

For Home Equity Lines of Credit, the rate is variable and based on the Prime Rate as published in the “Money Rates” section of the Wall Street Journal, plus a margin. The margin is based on loan-to-value and borrower(s) credit score at time of origination. The maximum annual percentage rate in a variable rate plan is 18%.

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