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Welcome to the new Monterra Credit Union website
We’re ready to improve your banking experience with our new and improved website. Take a tour to see what changes have been made and where you can find the products that you’re most interested in.
Rates as low as
7.335
% APR
Unlock the door to a better home loan
At Monterra Credit Union, we provide customized mortgages with competitive rates and local service.
Get Started with our comprehensive guide to finding, buying and financing a home
Explore our home loan options
Choose fixed or adjustable rates
Various terms are available to fit your finances
Opt for low down payment options
Borrow up to $3.5 million
Budget with certainty knowing your principal and interest payments won't change over the home loan's term. Our lowest down payment is 3% on conforming loan amounts up to $766,550 and as low as 5% up to $1.5 million.
Here are your options:
| Loan Type | 10-year fixed | 15-year fixed | 20-year fixed | 30-year fixed |
|---|---|---|---|---|
| Conforming (up to $766,550) | Yes | Yes | Yes | Yes |
| High-balance ($766,551 - $1,149,825) | No | Yes | No | Yes |
| Jumbo ($1,149,826 - $3,500,000) | No | Yes | No | Yes |
ARMs typically offer lower interest rates and lower monthly payments for the initial period, either 5, 7 or 10 years.
- Initial fixed rate period of 7 or 10 years with payments amortized over 30 years
- Interest rate adjusts annually following the initial fixed-rate period
- Index is based on weekly average yield of one-year Treasury Constant Maturity (TCM)
- 2.5% Margin
- Can increase up to 5% for the initial adjustment; the annual rate increase thereafter is capped at 2% with a 5% increase cap for the life of the loan
- Floor rate will not drop below the margin
- Adjustable rate with an initial fixed rate prior of 5 years, with payments amortized over 30 years
- Interest rate adjustment every 5 years starting the year following the initial fixed rate period
- Index is based on weekly average yield of 5-year Treasure Constant Maturity (TCM)
- 2.5% Margin
- 2% annual rate increase cap with a 5% increase cap above the initial fixed rate for the life of the loan
- Floor rate will not drop below the margin
- Interest-only payments during the first 5 years
- Adjustable rate with an initial fixed rate of 5 years
- Interest rate adjustment every year after initial 5 year fixed period (starting the year following the initial fixed period)
- Index is based on weekly average yield of 1-year Treasure Constant Maturity (TCM)
- 2.5% Margin
- 2% annual rate increase cap with a 5% increase cap for the life of the loan
- Floor rate will not drop below the margin
Afford a broader range of homes with jumbo loans up to $3.5 million.
- Fixed and adjustable-rate options available
- 40-year ARMs available
- Close in as few as 21 days
Here are your down payment options:
- As low as 3% down up to $766,550
- As low as 5% down up to $1.5 million
- As low as 10% down up to $2 million
All mortgage loans through Monterra Credit Union are for homes in California only. Adequate property insurance required for the life of the loan. Flood insurance may be required. All loans are subject to credit approval. Please speak with a Real Estate Representative for current rates and information on loan limits as additional conditions and restrictions may apply.
Monterra Credit Union NMLS #416747.
Monterra Credit Union NMLS #416747.
Get rolling toward a better deal with low-rate vehicle loans that keep you moving.
Regular Savings Account
Looking for an account without the hidden fees? Get a safe place to store your savings.
Regular Savings Account
Looking for an account without the hidden fees? Get a safe place to store your savings.
Invested in you.
We invest in the success of people and our community by:
- Giving back
- Making things easier
- Committing ourselves to our members' potential
