trim: The rate improver Mortgage 

A 30-year fixed rate mortgage that allows you to float down/modify your rate, one time, during the first 5 years of the mortgage term without paying any costs.

Benefits:

• Lower your rate
• No cost to you

Best for people who:

• Have a high interest rate

Eligibility:

• Borrower must make a least 6 monthly payments at the start rate
• Borrower must be current on their mortgage at time of request
• Property is still primary residence at the time of modification, verification will be required
• Borrower must contact Holyoke Credit Union's loan servicing department to start the process
• Property is a single-family owner-occupied dwellings or owner-occupied warrantable condos

*The Primary Mortgage Market Survey (PMMS) is weekly survey of lender data by Freddie Mac to find the rate of fixed
mortgage loans submitted to Freddie Mac by banks, credit unions, and mortgage companies. Freddie Mac looks at
rates for conventional, single-family organizations with conforming loan limits set by FHFA and are an average of loan
rates offered each week. It's important to note that the calculations do not include points or fees. Property Types:
Single-family owner-occupied dwellings or owner-occupied warrantable condos. Maximum loan amount is $800,000.
Maximum financing is 95% LTV (mortgage insurance required over 80% LTV). Minimum FICO is 620 (Middle score of
lowest borrower on a tri-merged FICO mortgage lending report).

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