Mortgage Programs


The right mortgages and programs for you.

Fixed Rate Mortgages

Our fixed rate mortgages are competitively priced for our members to save. You can finance a loan to a variety of terms and point options are available. When it is time to choose your mortgage look to the people and credit union you can trust.

Adjustable Rate Mortgages (ARM)

Adjustable Rate Mortgages (ARM) have a variable interest rate that is linked to an economic index. The interest rate and your payments may be adjusted as the index changes. Bridgewater Credit Union, a Division of Merrimack Valley Credit Union's ARM's have low interest rates and are ideal for people looking for a short term mortgages.

VA Mortgage Program

The VA mortgage loans offer no down payment for past and current members of our military.

*NOTE: Our VA mortgage loan is temporarily unavailable.

FHA Program

An FHA loan is a mortgage that is insured by the Federal Housing Administration. Please reach out to us if you are interested in this program.

*NOTE: Our FHA mortgage loan is temporarily unavailable.

Neighborhood Heroes Mortgage

A program specially designed for our "Neighborhood Heroes" that work as Law Enforcement Officers, Firefighters, Educators, and EMTs. Receive up to 99% financing and get $250 when you open a BCU Neighborhood Heroes Checking with direct deposit and automatic monthly payment to your mortgage.*

Home Equity Lines of Credit (HELOC)

If you're looking to renovate your home, consolidate debt, or just need some cash to help pay for educational expenses, a HELOC could be perfect for you. Our HELOC offers a 10 year draw and 15 year payoff with no closing costs.**

*Minimum deposit to open a BCU Neighborhood Heroes Checking is $25. $250 credited to the checking account within 30 days of a direct deposit posting and clearing and an automatic payment from the checking account to the mortgage posting and clearing.

**Annual Percentage Rate (APR) based on The Wall Street Journal Prime Rate (The prime rate is currently 5.00% APR as of September 1, 2018). Maximum APR of Prime +2.00% (if minimum draw is not disbursed at closing). This is a variable rate loan and the rate may increase after closing. Rates are subject to change without notice. An early termination fee of $300 applies, if loan closed prior to 36 months. Proof of property insurance coverage required. No closing costs based on Automated Valuation Model. If an in-person appraisal is required, a $425.00-$700.00 fee will apply at closing. Maximum APR is 18%.