COVID-19 Update 12-10-2020 Holyoke Credit Union will be expanding our drive-thru hours of operation. Starting on Monday, December 14, 2020, the Holyoke drive-thru will be open: Mon.-Thurs. 8AM-4PM, Fri. 8AM -5PM and Sat. 9AM-12PM. The W. Springfield and Feeding Hills drive-thrus will be open: Mon.-Thurs. 9AM-4PM, Fri. 9AM -5PM and Sat. 9AM-12PM. All branch lobbies will remain closed until further notice. All HCU ATMs remain open. Mobile banking, online banking and HCU's Member Solutions Call Center (413-532-7007) will continue to be available. To see a Member Service Representative call 413-341-0133 for Holyoke or 413-278-6840 for W. Springfield or Feeding Hills for an appointment.

100% LTV Home Loan

HCU’s newest home loan product, the 100% LTV (Loan-to-Value) Home Loan, is a great option for those borrowers who want or need to borrow up to 100% of their home’s value. A traditional mortgage only allows 97% LTV.

BENEFITS:

  • Fixed monthly payments for the life of the loan
  • Protection from rising rates because interest rate remains the same for the life of the loan
  • Don’t have to be a veteran to get 100% LTV
  • No income limits 

BEST FOR PEOPLE WHO:

  • Are First Time Home Buyers
  • Have no down payment
  • Have limited available funds

OTHER CONSIDERATIONS:

  • Eligibility criteria apply:
    • Borrow up to $424,100
    • 20-30 Year Term – must have credit score of 700 or greater
    • 20 Year Term or less - must have credit score of 680 or greater
    • Must be a single family purchase and primary residence (no condos)
    • Minimum of 1% borrower contribution towards closing costs, prepaids or minimum reserve requirements. Gift funds are permitted to meet minimum borrower contribution
    • 3% maximum seller contribution
    • Minimum 2 months reserves
    • Monthly Borrower-Paid Mortgage Insurance (MI)
    • Full documentation for employment, income and assets

Click on Mortgage Rates to see the current rates and any additional disclosures.