Home Loans

Home Loans

Making Home Ownership Easy and Affordable


Whether you’re a newbie to buying a house or an old pro at it, turn to Freedom. We can help you buy or refinance any type of home. We offer a full range of options, along with the support and expertise to make home buying easy and affordable. Work with one of our experienced Mortgage Representatives who will help you choose the right loan type and guide you through the entire process.

A fixed-rate mortgage provides you peace of mind knowing your monthly payment will be the same for the life of the loan. If you plan to stay in your home for many years and appreciate the convenience of a consistent mortgage payment regardless of the market, a fixed-rate program is for you!

Freedom offers 10, 15 and 20 year fixed-rate loan products for a more accelerated payoff schedule, compared to the 30 year fixed rate. The interest rate will always remain the same, your principle and interest payment will never change, and with a variety of terms available you can pay off your mortgage at a pace that’s best for your unique situation.

An Adjustable Rate Mortgage (ARM) provides you with a lower initial payment, and will temporarily lock the rate at the time of closing. After the initial lock period ends, the rate will adjust for the remaining life of the loan, depending on market rates. ARMs allow you to take advantage of falling interest rates without refinancing, rates could increase as well. If you are considering a refinance or a move in the near future, an ARM loan may be a great option for you as the lower initial rates can offer a cheaper option if you don’t plan on staying in one place for long.

The Federal Housing Administration, or FHA loan is a great program for homebuyers that may not have exceptional credit, or are looking for a low down payment option with affordable terms. FHA features a down payment of just 3.5%, as well as flexible credit and qualification requirements.

The Veterans Administration, or VA mortgage loan is a great program for Veterans, active service members, and other military personnel with a Certificate of Eligibility. VA loans are a fantastic option for eligible vets for a variety of reasons, including zero down payment and no PMI (Primary Mortgage Insurance). The VA loan also offers the most flexible credit and qualification requirements of any loan product.

A Jumbo loan allows you to purchase a home with a loan amount that would traditionally exceed the limits of conventional financing. Luxury homes and multi-unit properties are among those you could finance with a Jumbo loan. In addition to increased financing for the purchase of a high value home, a Jumbo loan refinance could lower your monthly payments, allow you more discretionary income, and restore the investment value of your home. The jumbo loan products available are capped at $3,000,000.

Now may be the perfect time for you to refinance your current mortgage, from another loan provider, into a lower, fixed rate from Freedom! We offer a wide range of Conventional and Government programs with low rates and great terms. Contact us about a refinance option that meet your needs today.

When does it make sense to refinance?

  • Get a lower interest rate and reduce your monthly payment
  • Build equity faster
  • Consolidate your debt
  • Switch from an Adjustable Rate Mortgage loan (ARM) to a Fixed Rate loan
  • Get a loan that recognizes your improved creditworthiness
  • Draw on the equity built up in your home and get cash out!

What our members are saying

I have loved this credit union and the people working for it, for many years.  This is an excellent credit union, and I have referred many people to you.  I have financed my mortgage, cars, second mortgage, credit card, and refinanced my home with you.  I never, ever had any problems.  The tellers, and everyone I have contact with, are friendly, knowledgeable, and efficient. Thank you very much.

— Paulette J.

For First-Time Home Buyers

Home Possible

Freedom offers the Home Possible mortgage loan for first time home buyers with low-to-moderate income. The Home Possible program allows for new home purchases and rate and term refinances, with reduced mortgage insurance, flexible sources of funds for down payments, and flexible closing cost options.


The HomeReady program is great for first time home buyers and borrowers with little or no credit history. HomeReady is available with a variety of options designed to address some of the most common obstacles home buyers face when purchasing a home.

  • Options to help minimize or alternatively document cash for down payment and closing costs.
  • More flexibility when qualifying for the minimum payment using your income
  • Lower minimum credit score requirements than most mortgage programs

Home Equity Loans

Bank on What You’ve Built, take advantage of the equity in your home.

  • Home Equity Loan

    A Home Equity Loan from Freedom allows you to leverage the value of your home (equity) to get a fixed-rate loan

    • Low, competitive fixed rates1
    • Receive $1,000 towards Closing Costs2
    • Flexible term options3
    • Additional 0.25% APR discount4
    • Potential tax deductions5

    We offer flexible loan-payment options. Schedule a direct payment by automatic deduction from any account, at any financial institution.

  • Home Equity Line

    A personal variable-rate line of credit from Freedom is a revolving1 line of credit, much like a credit card. Just apply, then Freedom will establish your APR and maximum credit limit.

    • Better rates and more flexible terms than most credit cards
    • Re-occuring, easy access to funds when needed 1
    • Access funds via branch withdrawal, electronic transfer to checking, ATM, or debit card
    • Can be used as overdraft protection for Freedom checking accounts

Contact Us

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Our Expert

Mike Ostrowski, Mortgage Manager, Freedom Federal Credit Union

How can you lower your mortgage payment or use your home’s equity to pay off debt? Is it a good time to be in the market? Hear more from our mortgage expert, Mike Ostrowski, seen here on Midday Maryland talking about the basics of mortgages, refinancing, and HELOCs.


1 Rates are subject to change without notice, and may vary according to credit history. Rates and terms may be different as determined by collateral and individual credit worthiness.
2 Freedom will pay closing costs up to a maximum of $1,000.
3 Flexible term lengths include 5, 7, 10, 15 and 20 years. Restrictions may apply.
4 APR = Annual Percentage Rate. Discount available with e-Statement enrollment and automated payments on select loan types.
5 Consult your tax advisor for eligibility and deduction information.