Your Local Mortgage Lender in Plymouth County
Buying a home is one of the most exciting milestones in your life, but we know it can also feel a little overwhelming. Whether you are looking to purchase your very first house in Plymouth, upgrade to a larger space for your growing family, or downsize for retirement, having a trusted partner by your side makes all the difference.
At Cranberry FCU, we aren't just a lender; we are your neighbors. We understand the local housing market in Plymouth County because we live and work here, too. Our goal is to make the mortgage process as smooth, transparent, and affordable as possible. We look past the paperwork to see the person behind the application, helping you find a financing solution that fits your budget and your future goals.
Don't navigate the housing market alone. Let’s get you the keys to your new home with competitive rates and low closing costs.
Why Choose a Credit Union for Your Home Loan?
When you are shopping for a mortgage, you have a lot of options, including big commercial banks and online lenders. So, why choose a credit union like Cranberry FCU?
The answer lies in our structure. Unlike big banks that answer to outside stockholders, credit unions are not-for-profit cooperatives owned by our members, which means you. Because we don't have to worry about maximizing profits for Wall Street, we can pass those savings directly to you.
This often translates into:
More competitive interest rates.
Lower fees and closing costs.
Personalized service where you are treated like a member, not a number.
When you finance your home with us, you are investing back into the Plymouth County community.
Understanding Your First Mortgage Options
Mortgages can be confusing, with all the acronyms and financial terms. We believe in keeping things simple and educational so you can make the right choice for your financial situation.
While specific products may vary, most borrowers decide between two main categories of loans:
Fixed-Rate Mortgages: With this option, your interest rate stays the same for the entire life of the loan. This means your monthly principal and interest payments never change, making it a great choice for long-term budgeting and stability.
Adjustable-Rate Mortgages (ARMs): These loans often start with a lower interest rate than fixed-rate mortgages, but the rate can change after a set period. This can be a smart option if you plan to move or refinance within a few years.
We offer a variety of terms to suit your needs. For current rates and specific product details, please visit our rates page.
The Path to Homeownership: How to Apply
We have streamlined our application process to get you a decision quickly, so you don't miss out on your dream home.
1. Check Your Budget: Before you start shopping, it is helpful to know exactly how much you can afford. Review your monthly income and expenses to determine a comfortable mortgage payment.
2. Get Pre-Approved: In a competitive real estate market, a pre-approval letter shows sellers that you are a serious buyer with the financing to back up your offer. It gives you the confidence to shop within your price range.
3. Apply Online: You don't need to drive to a branch to get started. We utilize a secure online portal, MortgageClick, allowing you to complete your application from the comfort of your couch. It is fast, secure, and user-friendly.
Who Can Join Cranberry FCU?
You might be wondering if you are eligible to borrow from us. As a community-focused credit union, we make membership accessible to our neighbors.
You are likely eligible to join if you:
Live, work, worship, or attend school in Plymouth County, MA.
Are an immediate family member of a current Cranberry FCU member.
Once you join, you are a member for life, even if you move or change jobs. Membership gives you access to all our banking products, from checking accounts to home loans.
Frequently Asked Questions
What documents do I need to apply for a mortgage?
To speed up the process, it helps to have your financial documents ready. Generally, you will need proof of income (such as recent pay stubs and W-2 forms), bank statements to show your assets, and identification. Our team will provide you with a specific checklist once you apply.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate of what you might be able to borrow based on self-reported information. Pre-approval is more formal; it involves a credit check and verification of your finances. A pre-approval carries much more weight with real estate agents and sellers.
Does Cranberry FCU help first-time home buyers?
Absolutely. We love helping members buy their first home. We will walk you through every step of the process, explaining the costs and requirements clearly so there are no surprises.