Mortgage Loans

At CP Federal we are committed to removing any obstacles in the way of home ownership dreams. We are proud to have the lowest closing costs in the area and great low rates to match.

Just as important, we provide truly personal service at an unmatched level. We work closely with you every step of the way. Local decision-making and diligent service ensures fast closings and long-term security.

Conventional loans must meet Fannie Mae Guidelines; maximum loan amount for conventional loans is $417,000.00, Jumbo loans $750,000. All property financed with CP Federal must be owner occupied, no investment or rental property allowed. Conventional loans over 80% LTV must have Mortgage Insurance and are required to escrow for Mortgage Insurance, Homeowners Insurance and Property Taxes. Rates and APRs may vary depending on loan details, such as loan amount, loan-to-value, your credit, property type, purpose (purchase or refinance with cash-out vs. no cash-out), occupancy (owner occupied or second home) and points paid. Rates are subject to change without notice. You will need to speak to one of our loan officers to obtain a specific quote or to lock a rate.

  • Low, competitive rates
  • Local decision-making
  • In-house servicing—your mortgage stays at CPFCU
  • Lowest closing costs in area
  • Close within 3-4 weeks
  • Wide range of terms and options
  • Close, personal service at every step
  • Up to 95% financing
  • Non-conforming loans available
  • New! You are now able to view your existing CP mortgage online

Check out our current rates!

View Existing CP Mortgage

Great news! You may now view your Real Estate Loan information online and at your convenience. View items like:

  • Mortgage history
  • Current balance
  • Escrow account
  • Payment information
  • And more!

Click here to view your existing CP Mortgage.

Construction Loans

CP Federal offers convenient financing for construction loans. One closing prior to the start of construction will handle both the construction phase and the permanent mortgage. "Draws" are given as construction is completed in phases. Interest only accrues on moneys disbursed to date, not the full amount.

  • Pay interest only during construction
  • Favorable construction period available
  • Draw-system: money released as construction progresses
  • Checks cut directly to suppliers/contractor for convenience
  • Plan designed to save you money
  • Rolls into permanent mortgage upon completion
  • One-time closing saves money on closing costs
  • Available on modular homes
Mortgage Loans