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Now you can get HRCU mortgages on camps, vacation and seasonal homes!

We offer great fixed rate and adjustable rate mortgages for both year-round and seasonal vacation homes in the state of NH! So whether you like lakes, mountains, beaches, country vistas, activity-filled or quiet and relaxing vacations... you can get local financing, loan servicing and our outstanding customer service for the life of your New Hampshire vacation home loan!

Rates are great right now! Vacation property qualifications:

  • Property must be located in NH.
  • Seasonal properties eligible: seasonal use during spring/summer/fall.
  • Year-round properties also eligible.
  • Single-family detached dwellings; those with in-law units also eligible.
  • Property must be occupied by owner annually.
  • Purchases or refinances welcome (cash-out refinances only available on year-round properties).

Apply in person at any of our branches, or online via the links below.  

 

What is the difference between a year-round and a seasonal vacation home?

A year-round vacation home structure would be considered livable in all 4 seasons, similar to a primary residence. A seasonal vacation home is used only in the spring/summer/fall (seasonally).

A seasonal property typically does not have a central heating system, may not be insulated, may not have a conventional foundation or a full plumbing system (ie: cold water only).

 

Vacation Home Mortgages - Year-Round Fixed

Effective Date: Friday, January 19, 2018

TypeInterest RatePointsAPR*Monthly Payment/$1,000
Conventional 30 Year Fixed 14.125%0.004.205%$4.85
Conventional 20 Year Fixed 23.875%0.003.984%$5.99
Conventional 15 Year Fixed 33.500%0.003.639%$7.15
Conventional 10 Year Fixed 43.375%0.003.576%$9.83

Based on the rate chosen, points may be assessed subject to Fannie Mae pricing adjustments.  These adjustments consider loan to value, credit score, loan purpose, term and other factors.  Please contact your loan representative if you should have any questions.

*APR equals Annual Percentage Rate
All Rates assume 80% financing with a 20% down payment.
95% financing available for those who qualify. 
For non-conforming rates, contact the Mortgage Department. 
All rates subject to change daily and can only be guaranteed by HRCU Mortgage Department. For more information call (603) 332-6840 or toll free at (877) 895-6840.
NOTE: One point is equal to 1% of the amount financed.

1 Example: A 30-year fixed rate mortgage with 0 points; the rate would be 4.125%. Based on a purchase price of $200,000 with 20% down payment, the amount financed would be $160,000 with 360 monthly payments of approximately $775.44 (principal and interest), a finance charge of $119,158.25 bringing the total payment to $279,158.25.

2 Example: A 20-year fixed rate mortgage with 0 points; the rate would be 3.875%. Based on a purchase price of $200,000 with a 20% down payment, the amount financed would be $160,000 with 240 monthly payments of approximately $959.06 (principal and interest), a finance charge of $70,174.97 bringing the total payment to $230,174.97. 

3 Example: A 15-year fixed rate mortgage with 0 points; the rate would be 3.500%. Based on a purchase price of $200,000 with a 20% down payment, the amount financed would be $160,000 with 180 monthly payments of approximately $1,143.81 (principal and interest), a finance charge of $45,886.17 bringing the total payment to $205,886.65.

4 Example: A 10-year fixed rate mortgage with 0 points; the rate would be 3.375%. Based on a purchase price of $200,000 with a 20% down payment, the amount financed would be $160,000 with 120 monthly payments of approximately $1,572.82 (principal and interest), a finance charge of $28,738.65 bringing the total payment to $188,738.65.

Vacation Home Mortgages - Year-Round Adjustable

Effective Date: Friday, January 19, 2018

Type** (10, 15, 20, or 30 year terms)Interest RatePointsAPR*Monthly Payment/$1,000
3/3 Year ARM 13.125%0.003.880%$4.28
5/5 Year ARM 23.375%0.004.015%$4.42

1Fixed for 36 Months and unlike a 3/1 ARM ours is fixed for the first three years and then rates are subject to change every three years thereafter. The most your rate may increase at each change period/three years would be 2.00%. Rate adjustment increases will not exceed 6.00% over the life of the loan and the lowest rate (floor rate) will not go below your intial rate.


Example: A 3 year Adjustable Rate Mortgage with 0 points; the rate would be 3.125%. Based on a purchase of $200,000 with a 20% down payment, the amount financed would be $160,000 with 360 monthly payments of approximately $685.40 (principal and interest), a finance charge of $86,744.26, bringing the total payment to approximately $246,744.26. Monthly payment may change according to adjustment in rate every three years. 


2Fixed for 60 Months and unlike a 5/1 ARM ours is fixed for the first five years and then rates are subject to change every five years thereafter. The most your rate may increase at each change period/5 years would be 2.00%. Rate adjustment increases will not exceed 6.00% over the life of the loan and the lowest rate (floor rate) will not go below your intial rate.

Example: A 5 year Adjustable Rate Mortgage with 0 points; the rate would be 3.375%. Based on a purchase of $200,000 with a 20% down payment, the amount financed would be $160,000 with 360 monthly payments of approximately $707.35 (principal and interest), a finance charge of $94,647.42, bringing the total payment to approximately $254,647.42. Monthly payment may change according to adjustment in rate every five years.


*APR equals Annual Percentage Rate
**ARM equals Adjustable Rate Mortgage
All Rates assume 80% financing with a 20% down payment.
For non-conforming rates, contact the Mortgage Department. 
Index for all Adjustable Rate Mortgages is the weekly average of the U.S. Treasury securities for the applicable term.
All rates subject to change daily and can only be guaranteed by HRCU Mortgage Department. For more information call (603) 332-6840 or toll free at (877) 895-6840.
NOTE: One point is equal to 1% of the amount financed. 

Vacation Home Mortgages - Seasonal Fixed

Effective Date: Friday, January 19, 2018

TypeInterest RatePointsAPR*Monthly Payment/$1,000
Conventional 15 Year Fixed 34.500%0.004.658%$7.64
Conventional 10 Year Fixed 24.375%0.004.602%$10.30

Based on the rate chosen, points may be assessed subject to Fannie Mae pricing adjustments.  These adjustments consider loan to value, credit score, loan purpose, term and other factors.  Please contact your loan representative if you should have any questions.

*APR equals Annual Percentage Rate
All Rates assume 70% financing with a 30% down payment.
95% financing available for those who qualify. 
For non-conforming rates, contact the Mortgage Department. 
All rates subject to change daily and can only be guaranteed by HRCU Mortgage Department. For more information call (603) 332-6840 or toll free at (877) 895-6840.
NOTE: One point is equal to 1% of the amount financed.

1 Example: A 15-year fixed rate mortgage with 0 points; the rate would be 4.500%. Based on a purchase price of $200,000 with a 30% down payment, the amount financed would be $140,000 with 180 monthly payments of approximately $1,070.99 (principal and interest), a finance charge of $52,778.31 bringing the total payment to $192,778.31.

2 Example: A 10-year fixed rate mortgage with 0 points; the rate would be 4.375%. Based on a purchase price of $200,000 with a 30% down payment, the amount financed would be $140,000 with 120 monthly payments of approximately $1,442.52 (principal and interest), a finance charge of $33,102.01 bringing the total payment to $173,102.01.

Vacation Home Mortgages - Seasonal Adjustable

Effective Date: Friday, January 19, 2018

Type** (10, 15, 20, or 30 year terms)Interest RatePointsAPR*Monthly Payment/$1,000
3/3 Year ARM 14.125%0.004.213%$4.85
5/5 Year ARM 24.375%0.004.465%$4.99

1Fixed for 36 Months and unlike a 3/1 ARM ours is fixed for the first three years and then rates are subject to change every three years thereafter. The most your rate may increase at each change period/three years would be 2.00%. Rate adjustment increases will not exceed 6.00% over the life of the loan and the lowest rate (floor rate) will not go below your intial rate.

Example: A 3 year Adjustable Rate Mortgage with 0 points; the rate would be 4.125%. Based on a purchase of $200,000 with a 30% down payment, the amount financed would be $140,000 with 360 monthly payments of approximately $678.51 (principal and interest), a finance charge of $104,263.47, bringing the total payment to approximately $244,263.47. Monthly payment may change according to adjustment in rate every three years. 


2Fixed for 60 Months and unlike a 5/1 ARM ours is fixed for the first five years and then rates are subject to change every five years thereafter. The most your rate may increase at each change period/5 years would be 2.00%. Rate adjustment increases will not exceed 6.00% over the life of the loan and the lowest rate (floor rate) will not go below your intial rate.

Example: A 5 year Adjustable Rate Mortgage with 0 points; the rate would be 4.375%. Based on a purchase of $200,000 with a 30% down payment, the amount financed would be $140,000 with 360 monthly payments of approximately $699.00 (principal and interest), a finance charge of $111,639.77, bringing the total payment to approximately $251,639.77. Monthly payment may change according to adjustment in rate every five years.


*APR equals Annual Percentage Rate
**ARM equals Adjustable Rate Mortgage
All Rates assume 70% financing with a 30% down payment.
For non-conforming rates, contact the Mortgage Department. 
Index for all Adjustable Rate Mortgages is the weekly average of the U.S. Treasury securities for the applicable term.
All rates subject to change daily and can only be guaranteed by HRCU Mortgage Department. For more information call (603) 332-6840 or toll free at (877) 895-6840.
NOTE: One point is equal to 1% of the amount financed.