Mortgage Loans

Adjustable-rate mortgages, or ARMs, have monthly payments that can move up and down as interest rates fluctuate. 

Most ARMs have an initial fixed-rate period during which the borrower's rate doesn't change, followed by a longer period during which the rate changes at preset intervals.

It's a mortgage with an interest rate that stays the same throughout the life of the loan. The main advantage is that your monthly principal and interest payments do not change making budgeting a snap. 

Home equity loans are a lot like personal loans. The amount you can borrow is essentially the difference between what your home is worth and how much you still owe on your mortgage. 

Just like a home equity loan, a HELOC depends on how much equity you've built up in your home. The amount you can borrow is essentially the difference between what your home is worth and how much you still owe on your mortgage. Instead of receiving one large loan, though, you can get a line of credit - a set amount from which you can regularly withdraw funds. In that sense, it's like a credit card, except the interest rates are usually lower. 

Found the perfect piece of land to eventually build your dream home, retirement cottage or hunting cabin!? Or even as land for future investments? Our Bayer HFCU land loan is for you! Purchase vacant land without the pressure to immediately build. We offer land loans with a fixed interest rate. 

Let us help you build your dream home! Our mortgage professionals will guide you along the way. We offer construction loans with a one-time closing process which smoothly transitions over to permanent financing.