Home Equity: How Does It Work?
By understanding home equity and using it wisely, you can unlock financial opportunities while ensuring your long-term financial stability.
HOME LOANS
Home Loans
HOME LOANS
Let's get you home.
Whether you’re buying your first, upgrading, or looking for something that fits life’s next chapter—our local experts have you covered. Not sure where to start? Call our team or scroll down to find our best mortgage rates.
I'm looking to...
Buy My First Home
Find workshops and mortgage programs made to get first-time homebuyers home.
Purchase Land
Lock down your lot with a Lot or Land Loan so you're ready to build as soon as possible.
Buy and Renovate
Use a Renovation Loan to buy and renovate with a single loan based on expected value.
Build My Dream Home
Custom Construction Loans roll construction-phase financing into your permanent mortgage.
Refinance
Refinance your home mortgage with a better rate to enjoy lower payments.
Buy a 2nd Home
Find the right mortgage option to seal down your second property.
15-year fixed
- Rate: 5.963%
- APR: 5.963%
30-year fixed
- Rate: 6.750%
- APR: 6.884%
Jumbo 15-year fixed
- Rate: 5.500%
- APR: 5.681%
Jumbo 30-year fixed
- Rate: 6.500%
- APR: 6.613%
VA 30-year fixed
- Rate: 5.750%
- APR: 6.076%
HOME LOANS
Serene & Austin Become Homeowners
As newlyweds Serene and Austin embarked on an exciting new chapter in their lives, Columbia Credit Union was there for them at every stage of the mortgage process to get them into their new home.
HOME LOANS
Serene & Austin Become Homeowners
As newlyweds Serene and Austin embarked on an exciting new chapter in their lives, Columbia Credit Union was there for them at every stage of the mortgage process to get them into their new home.
FIRST-TIME HOMEBUYERS
Feel like you'll never get into a home of your own?
We get it. That’s why we offer workshops for first-time-homebuyers, mortgage programs with low down payment options, and one-on-one guidance for the home loan process.
Register for one of our free workshops to learn about:
- Getting ready to buy
- The home buying process
- Home owning tips + take home materials
FIRST-TIME HOMEBUYERS
Feel like you'll never get into a home of your own?
We get it. That’s why we offer workshops for first-time-homebuyers, mortgage programs with low down payment options, and one-on-one guidance for the home loan process.
Register for one of our free workshops to learn about:
- Getting ready to buy
- The home buying process
- Home owning tips + take home materials
Not sure where to start?
Meet with one of our Home Loan Officers to find what’s right for you.
Get up to 100% financing with a VA loan.
Find low or no down payment mortgage options backed by the Veterans Benefits Administration. Service members, veterans, and eligible surviving spouses can access great programs to purchase, refinance, and make improvements with help from the VA and Columbia Credit Union.
Get up to 100% financing with a VA loan.
Find low or no down payment mortgage options backed by the Veterans Benefits Administration. Service members, veterans, and eligible surviving spouses can access great programs to purchase, refinance, and make improvements with help from the VA and Columbia Credit Union.
Need to buy before your old home closes?
A Bridge Loan gives you short-term cash while you wait for your old home to close.
Need to buy before your old home closes?
A Bridge Loan gives you short-term cash while you wait for your old home to close.
Federal Housing Administration Loan
An FHA Loan is a mortgage that’s insured by the Federal Housing Administration, allowing you to finance your home with a down payment as low as 3.5%. These are especially popular with first-time homebuyers.
Federal Housing Administration Loan
An FHA Loan is a mortgage that’s insured by the Federal Housing Administration, allowing you to finance your home with a down payment as low as 3.5%. These are especially popular with first-time homebuyers.
Imagine your life mortgage-free.
How does owning your home free and clear sound? It’s easy to do with a RetireIt! Mortgage from Columbia Credit Union.
Our RetireIt! Mortgage is a great refinance option to help you pay off your mortgage faster before you reach retirement. Enjoy competitive rates and shorter terms from 5 to 12 years.
Imagine your life mortgage-free.
How does owning your home free and clear sound? It’s easy to do with a RetireIt! Mortgage from Columbia Credit Union.
Our RetireIt! Mortgage is a great refinance option to help you pay off your mortgage faster before you reach retirement. Enjoy competitive rates and shorter terms from 5 to 12 years.
Refinance your home mortgage.
Refinance your home mortgage with a better rate to enjoy lower monthly payments. You can apply for a loan online or use our calculator to see what you could save by refinancing now.
Refinance your home mortgage.
Refinance your home mortgage with a better rate to enjoy lower monthly payments. You can apply for a loan online or use our calculator to see what you could save by refinancing now.
CALCULATORS
Mortgage Calculator
Use our handy mortgage calculators for budgeting help, loan calculations, and more.
CALCULATORS
Mortgage Calculator
Use our handy mortgage calculators for budgeting help, loan calculations, and more.
Mortgage Programs
Fixed & Adjustable Rate Mortgages
- For 10, 15, 20, and 30 year terms
- Ideal for long-term homeownership
- Available for primary residence, second homes, and investment properties
Adjustable Rate Mortgages – Enjoy a lower monthly payment.
- 5/6, and 7/6 ARMs
3% Down Payment Program
Low down payments for first-time homebuyers.
- As low as 3% down payment
- Down payment funds can be gifted
- Fixed rate loan with terms up to 30 years
- Available for primary residence purchases only with LTV ratios greater than 95% up to 97%
- Not available for manufactured homes
- At least one borrower must be a first-time home buyer
Zero Down Payment Mortgage
With our 80-20 Home Loan, 80% of the purchase is the 1st mortgage, and 20% is the 2nd. $0 down payment.
- 80% of the purchase is your 1st mortgage, which will have a 30-year amortization with a 15-year balloon payment
- 20% of your purchase (essentially your down payment) will also have a 30-year amortization with a 15-year balloon payment
- No PMI
Custom One-Time Close Construction Loan
Sign one set of documents, pay one set of fees, and save time and money as your construction-phase financing rolls into your permanent mortgage.
- Choose between an adjustable or fixed rate
- Interest-only payments during construction phase (up to 12 months
Home Improvement & Renovation Loan
Buy and renovate with a single loan based on expected value.
Land and Lot Loan
- For residential lots or unimproved land
- Fixed rates
- Up to 75% loan to value of purchase price
- Easy conversion to a construction loan
Bridge Loan
A short term loan option for homebuyers who don’t sell their current home before closing on a new one.
Living Green Mortgage℠
Save up to $500 for energy efficient homes.
- Home must be certified through LEED, Energy Star, or Earth Advantage
- Call 360.891.4028 or schedule an appointment to learn more
RetireIt! Mortgage℠
Retire your payments by refinancing and entering retirement mortgage free.
- Terms from 5 to 12 years
- Low rates
- Typical closing costs range from $1,000 – $1,500, plus a $500 origination fee.
★★★★★
"I look forward to going to Columbia CU for my banking needs, they always make me feel comfortable and like family. They have helped me with all the big decisions in my life, our home loan and various car loans. They are second to none."
- Susan P.
From Our Blog
How Columbia Credit Union Keeps Members on the Fast Track to Financial Wellness
Columbia Credit Union offers products and services designed to help members manage their money and achieve financial wellness.
The 5/6 ARM: A More Affordable Mortgage Option
A 5/6 ARM is a mortgage with a fixed-rate for 5 years, followed by a period in which the interest rate can be adjusted once every 6 months.
Great financing options beyond home loans.
Home Equity Line of Credit
Unlock your home’s equity with our flexible HELOCs. Use the funds for home renovations, significant purchases, or debt consolidation – your home’s value can fuel your goals.
Auto Loans
Drive your dream with our flexible auto loans. With low rates on more than just cars – from RVs and boats, to motorcycles, jet skis, ATVs and snowmobiles, we’ve got you covered.
Credit Cards
Experience the benefits of a Columbia Credit Union credit card: low rates, high rewards, global travel perks, no balance transfer fees, and 0% interest for the first 12 months.
