North Island branches and Contact Center will be closed Monday, October 12, in observance of Columbus Day.
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Home Loans

We offer a variety of home loans and resources to meet the needs of our members. Click below to learn more about our loan products, services and benefits.

Contact one of our dedicated mortgage representatives for assistance with your home loans and other mortgage products:

Home Mortgages

Purchase that dream home, refinance from other lenders to lower your payments, or draw cash out to use as you please. We offer competitive rates and low closing costs along with many other benefits.
  • No application fees.
  • No pre-payment penalties.
  • Financing up to 95% of home value.
  • Cash out up to 80% of home value.
  • Consolidate first and second mortgages and Home Equity Lines of Credit.
  • Offering fixed and adjustable rate mortgages (ARMs).
  • Portfolio Lender.
  • Documentation will be required.

Apply now

5/1 ARM (Adjustable Rate Mortgage)

This adjustable rate mortgage is available at a remarkably low rate of 2.750% with a 2.914%APR*.

  • No closing costs**
  • Rate fixed for the first 5 years
  • Financing up to 80% LTV
  • Offer good for a limited time and is valid on owner-occupied purchases
  • Other restrictions apply. See complete details.
  • Apply now

Payment Example
Monthly Principal
& Interest Payment
5/1 ARM First 60 months 2.750% 2.914% $2,041.21
  Next 300 months 3.000% 3.000% $2,103.19
As of June 1, 2015, the start rate is 2.750% fixed for 5 years with an APR of 2.914% and will adjust annually thereafter by no more than 2 percentage points based on the 1-year Treasury Constant Maturity (TCM) index plus a margin of 2.75% with a lifetime maximum rate of 5% above the start rate. The sample payment is based on a loan amount of $500,000. Examples shown are based on rate/term, no cash out, 740 minimum FICO, 80% max financing, single family home, primary residence. Other options may be available. Payments shown do not include mortgage insurance or taxes; actual payments will be greater. Rates posted are not intended to be a commitment, and are subject to change without notice. Certain terms and conditions may apply. Your actual rate and/or points may be different. No application fee.

VA Loans

Specialized loans for a purchase, rate and term refinance, or a cash-out refinance. These loans are available to eligible members including who are retired military, discharged veterans, active duty military, or the un-remarried surviving spouse of a veteran.
  • Zero down payment purchases
  • 90% cash out refinances (Use a cash-out refinance for home improvements, school tuition, debt consolidation, vacations, or other purchases)
  • Acceptable Debt-to-income ratios higher than conventional loans
  • Fixed and ARMs available
  • No monthly mortgage insurance required
  • No prepayment penalty

Apply now

Home Loan Resources

See our rates and terms for all home loan rates here.
Apply Now | Contact Us | Call (858) 769-7010

*APR = Annual Percentage Rate

** 5/1 ARM Terms & Conditions
North Island Credit Union will pay your non-recurring closing costs including but not limited to: lender’s title insurance, title services, appraisal, tax service, credit report, flood certification and recording fees up to an amount of $10,000 or the amount charged by the service providers, whichever is less. If you pay this loan off earlier than the 36-month anniversary date of the loan closing, you will be obligated to pay North Island Credit Union a prorated amount of the closing costs. This amount will be added to any loan payoff amount requested prior to the 36-month anniversary date. This does not include pre-paid interest, homeowner’s insurance, initial escrow deposit, owner’s title insurance, or city and/or county transfer tax. Other restrictions may apply. Offer good for a limited time only and is valid on owner-occupied purchases or refinances from another institution and does not apply to the refinance of an existing North Island Credit Union mortgage. Programs, rates, terms, and conditions are subject to change. Multiple fixed-rate loan options are also available.