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General Mortgage Disclosures

The following general disclosures apply to all mortgage loan products offered by Lighthouse Credit Union.

All mortgages are subject to credit approval. Annual Percentage Rate (APR) shown is the lowest rate offered. All rates, terms and conditions are subject to change without notice and no rate is guaranteed. Certain rate and point adjustments may apply depending on loan features and borrower’s creditworthiness. Escrows for real estate taxes are required for down payments of less than 20%. Property insurance is required and flood insurance may be required. Standard closing costs apply.

Final loan approval and offered terms are subject to a satisfactory appraisal. The appraised value of the home may affect eligibility, loan amount, and required conditions.  

Any interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Please consult a tax adviser for further information regarding the deductibility of interest and charges.

At this time, we offer mortgage lending in Connecticut, Florida, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. However, we do not offer Land Loans, Construction Loans, and Accessory Dwelling Unit (ADU) Home Renovation Loans in Connecticut, Florida, or Rhode Island.

For more information on any of our mortgage loan products, please call a Mortgage Specialist at 888-436-1847.  

Payment Examples

30-Year Fixed Mortgage loan with $100,000 loan amount and 6.500% interest rate and APR of 6.708% will have a monthly principal and interest payment of $632.07. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the 30-Year Fixed Mortgage (Conventional), Home 97 30-Year Fixed Mortgage, Home 100 30-Year Fixed Mortgage, and the Jumbo 30-Year Fixed Mortgage. Terms and conditions apply.

20-Year Fixed Mortgage loan with $100,000 loan amount and 6.375% interest rate and APR of 6.646% will have a monthly principal and interest payment of $738.23. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the 20-Year Fixed Mortgage (Conventional). Terms and conditions apply.

15-Year Fixed Mortgage loan with $100,000 loan amount and 5.875% interest rate and APR of 6.203% will have a monthly principal and interest payment of $837.12. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the 15-Year Fixed Mortgage (Conventional) and the Jumbo 15-Year Fixed Mortgage. Terms and conditions apply.

40-Year Fixed Mortgage loan with $100,000 loan amount and 6.625% interest rate and APR of 6.806% will have a monthly principal and interest payment of $594.38. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the 40-Year Fixed Mortgage. Terms and conditions apply. 

Construction Loan and Jumbo Construction Loan 30-Year Fixed Mortgages begin with a 12-month interest-only construction period followed by a fully amortized repayment period for the remaining 348 months. A Construction Loan or Jumbo Construction Loan 30-Year Fixed Mortgage loan with a $100,000 loan amount and 6.500% interest rate and APR of 6.759% will have a monthly principal and interest payment of $639.21. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the Construction Loan and the Jumbo Construction Loan 30-Year Fixed Mortgages. Terms and conditions apply.

40-Year 7/1 Adjustable-Rate Mortgage (ARM) loan with $100,000 loan amount and 5.625% interest rate and APR of 6.276% will have a monthly principal and interest payment of $524.30. The payment example doesn’t include property taxes or homeowner’s insurance, so the monthly payment will be greater. The current APR is subject to change and may be different than the APR used in the payment example.  The APR in the payment example was effective on March 13, 2026. This payment example is applicable to the 40-Year 7/1 ARM. Terms and conditions apply. 

Fixed Rate Mortgage Disclosure

For a 1-4 family owner occupied residence, condominium, or double-wide manufactured home located on owned land; and one-unit second homes. Home 100 30-Year Fixed Mortgage, Home 97 30-Year Fixed Mortgage, 40-Year Fixed Mortgage, and Pathways Service 30-Year Fixed Mortgage are available solely for the purchase of single-family homes and condominiums for use as a primary residence. Loan approval is based on creditworthiness, amount financed, and ability to repay. Excluding Pathways Service loans, loans with a down payment of less than 20% require private mortgage insurance (PMI), which could increase the monthly payment and APR.

Adjustable-Rate Mortgages (ARMs) Disclosure

For 1–4 family owner-occupied residence, condominium or double-wide manufactured home located on owned land; and one-unit second homes. Home 100 ARMs, Home 97 ARMs, 40-Year 7/1 ARM and Pathways Service ARMs are available solely for the purchase of single-family homes and condominiums for use as a primary residence. 

3/1, 5/1, 7/1 & 10/1 ARMs
Loan approval, interest rate, and down payment required based on creditworthiness, amount financed, and ability to repay. Excluding Pathways Service and Home Loan Repayment Relief (HLPR) loans, loans with a down payment of less than 20% require PMI which could increase the monthly payment and APR. APR may increase after consummation of ARM products. 

The index for all ARMs is the weekly average of the U.S. Treasury securities for the applicable term. The interest rate on the ARMs will adjust periodically and that may result in an increase of the interest rate after closing. Rates, terms, and conditions are subject to change.

A 3/1 ARM offers a fixed interest rate and monthly payment for the first 3 years. After that, your rate can adjust once a year based on changes in the 1-year U.S. Treasury rate, plus a 3% margin. Your rate won’t go up more than 2% per year—or more than 6% over the life of the loan.

A 5/1 ARM offers a fixed interest rate and monthly payment for the first 5 years. After that, your rate can adjust once a year based on changes in the 1-year U.S. Treasury rate, plus a 3% margin. Your rate won’t go up more than 2% per year—or more than 6% over the life of the loan.

A 7/1 ARM offers a fixed interest rate and monthly payment for the first 7 years. After that, your rate may adjust once per year based on the current 1-year U.S. Treasury rate plus a 3% margin. Your rate increases are limited—or “capped”—at 5% the first time it adjusts, no more than 2% each year after, and no more than 5% total over the life of the loan.

A 10/1 ARM offers a fixed interest rate and monthly payment for the first 10 years. After that, your rate may adjust once per year based on the current 1-year U.S. Treasury rate plus a 3% margin. Your rate increases are limited—or “capped”—at 5% the first time it adjusts, no more than 2% each year after, and no more than 5% total over the life of the loan.

*40-Year Mortgages 

40-Year Mortgages are available as fixed or adjustable rate loans. Minimum down payment of 3% is required. PMI and escrows for taxes are required for down payments of less than 20%. Available solely for the purchase of a single-family home or condominium for use as a primary residence. Not available for refinance transactions. Terms and conditions apply.

**Pathways Service Mortgages

Through the Pathways Service, a qualified first-time homebuyer is eligible to apply for a 100% LTV mortgage loan without the cost of PMI by successfully engaging a designated friend or family member to open and fund a Pathways 60 Month Certificate account with a minimum balance of $50,000.  The Pathways 60 Month Certificate account must be opened and funded within 3 business days from the date of the homebuyer’s executed Purchase & Sale Agreement for the homebuyer to qualify for the PMI waiver.  Available solely for the purchase of a single-family home or condominium for use as a primary residence.  Terms and conditions apply.

***Home Loan Payment Relief (HLPR) 3/1 ARM

This loan program is available to first-time homebuyers with household incomes at or below the area median, with additional eligibility for certain underserved communities. Escrow for property taxes and insurance is required, and flood insurance, if applicable. A minimum of 1 financial counseling session is required to support buyer readiness. The loan features a fixed rate for the first 3 years. Beginning in year 4, the interest rate adjusts annually based on the 1-year U.S. Treasury constant maturity rate plus a 2.75% margin, subject to a maximum increase of 1% per year and 5% lifetime cap over the initial rate. This loan is available for the purchase of 1–2 family owner-occupied homes, condominiums, or manufactured homes located on owned land. Lender-paid closing costs must be reimbursed if the loan is paid in full within the first 3 years. Purchase transactions only; other restrictions may apply.

Land Loan 1/1 ARM

The Land Loan 1/1 ARM offers a fixed rate for 1 year and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 6% Your rate won’t go up more than 2% per year—or more than 6% over the life of the loan.

Construction Loans

The Construction Loan 30-Year Fixed Mortgage and the Jumbo Construction Loan 30-Year Fixed Mortgage are fixed-rate mortgages with interest-only payments during the construction period.  Available for 1-4 family homes and double-wide manufactured homes located on owned land. Maximum Loan-to-Value (LTV) is 95% of the home’s value as completed.