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Adjustable-Rate Mortgages (ARMs)

What are Adjustable-Rate Mortgages? The adjustable-rate mortgage (ARM), also known as a variable-rate mortgage, is a loan with an interest rate that fluctuates over time depending on market conditions. These home loans can be used when fixed-rate loans are hard to acquire. With an ARM, a rise in interest rates results in higher monthly payments, while monthly payments fall if … Continue reading

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Fixed-Rate Mortgages

Buying a new house is exciting, but it is also a big commitment. Not only do you have to find a home that meets your needs, but you also need to find one within your budget. A mortgage loan provides you with the money you need to purchase a home upfront, but you will have to choose between loans with … Continue reading

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Applying for a Mortgage

The Mortgage Application Once you have found a home to buy, you’re ready for the next step in the homeownership journey: the application for a home loan. Knowing the steps along the way can make an otherwise overwhelming process go more smoothly, and we’re here to help you through the process. Here are the steps you’ll follow to ensure that … Continue reading

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3 Reasons to Get a Mortgage at a Credit Union

You’ve found the perfect house for you and your family, but have you thought about who you’ll choose as your mortgage lender? National banks aren’t the only institutions that provide mortgage loans; credit unions are another option – and often times a much better one! When it comes to credit unions, your mortgage loan officer is there to serve you … Continue reading

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When is the best time to buy a home?

Buying a home is a momentous time in a person’s life. It can be extremely stressful not only because it’s a large expense but also because the housing market can fluctuate over the course of a single year. Buying at the wrong time may mean you need to pay more over the life of your loan because you bought when … Continue reading

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Mortgage Loans

Ready to purchase your dream home? Congratulations! It’s an exciting time, and everyone at Del Norte Credit Union looks forward to working with you. We’re here to help you realize your dream of homeownership. Regardless of your financing needs, we can help select from among the best type of mortgage loans in New Mexico. What is a Mortgage? A mortgage … Continue reading