Find the Right Home Loan with Confidence
Shopping for a home should feel exciting – not confusing. Whether you’re hearing the word mortgage for the first time or comparing home loan options to get the best rate, you’ll get clear information that helps you move forward. Our experienced Mortgage Team will break everything down in simple, friendly terms, giving you the confidence to choose the financing that fits your budget, your goals, and your future.
Explore current mortgage rates, calculate your monthly payment, and find the right home loan with the help of your trusted local mortgage lender.
Today's Mortgage Rates
Here’s a look at current mortgage rates. Your actual rate will depend on your credit profile, loan type, and other factors.
Find the Right Mortgage for Your Next Home
From your first home to your next move, Redstone offers flexible home loan options designed to fit your budget and long-term goals.
Conventional Fixed-Rate
Best for long-term stable monthly payments
- Down payment as low as 3.00%
- Fixed rate for the life othe loan
- Multiple term options
Adjustable-Rate Mortgage (ARM)
Best for short-term savings
- Down payment as low as 5.00%
- Lower introductory rates
- Jumbo and refinance options available
First-Time Home Buyer
Best for new buyers needing flexibility
- Finance up to 100%1
- No PMI options available
- Flexible qualification guideline
VA Home Loans2
Best for eligible military members and veterans
- Up to 100% financing
- No mortgage insurance (MI) required
- No VA funding fee for eligible borrowers
Jumbo Loans
Best for high loan amounts
- Borrow up to $2.5 million
- Fixed and adjustable-rate options
- Multiple term options
FHA Loans2
Best for lower credit scores or smaller down payments
- Down payments as low as 3.5% of purchase price
- Flexible qualification guidelines
- Fixed-rate options available
USDA Loans2
Best for buyers in qualifying rural areas
- No down payment option
- Lower income requirements
- Reduced mortgage insurance costs
1The interest on the portion of the credit extension that is greater than the fair market value of the house is not tax deductible for federal income tax purposes. Redstone Federal Credit Union® does not provide tax advice. Please consult a tax adviser for further information regarding the deductibility of interest and charges.
2Local loan servicing may not be available on manufactured homes or government-backed loans (FHA, USDA and VA loans). RFCU is not affiliated with any government agencies, including the Federal Housing Administration (FHA), U.S. Department of Agriculture (USDA), and Veterans Administration (VA). VA funding fee may apply. VA applicants will need to provide a Certificate of Eligibility (COE). The COE verifies to the lender that you are eligible for a VA backed loan. Visit va.gov for details. FHA, USDA, VA and RFCU are separate entities. RFCU is a VA-approved lender.
Today's Mortgage Rates
Here’s a look at current mortgage rates. Your actual rate will depend on your credit profile, loan type, and other factors.
Which Refinance Option is Right for You?
Rate-and-Term Refinance
Best for change terms of your loan, including a lower interest rate
- Fixed and adjustable-rate options available
- Jumbo, VA1 and FHA1 options
Cash-Out Refinance
Best for change terms of your loan and cash in equity in your home
- Access cash at closing based on your home’s equity
- Shorten your loan term, change your loan or secure a lower interest rate
With refinance you can:
- Lower monthly payments to create some breathing room in your budget
- Pay off your mortgage sooner and save on interest over the life of the loan
- Convert from an adjustable-rate mortgage to a fixed-rate mortgage
- Tap into your equity with a cash out refinance to cover home upgrades, consolidate debt or make a large purchase
1Local loan servicing may not be available on manufactured homes or government-backed loans (FHA, USDA and VA loans). RFCU is not affiliated with any government agencies, including the Federal Housing Administration (FHA), U.S. Department of Agriculture (USDA), and Veterans Administration (VA). VA funding fee may apply. VA applicants will need to provide a Certificate of Eligibility (COE). The COE verifies to the lender that you are eligible for a VA backed loan. Visit va.gov for details. FHA, USDA, VA and RFCU are separate entities. RFCU is a VA-approved lender.
Put Your Home's Equity to Work
Your home isn’t just where you live – it can also be a powerful financial tool. Whether you're planning renovations, covering a large expense, or preparing for the unexpected, you can tap into your home’s equity without changing the rate or terms of your current mortgage. Using your home as collateral can be a smart way to borrow with confidence.
Choose the option that fits how you want to borrow: a lump sum with predictable payments or flexible access to funds when you need it.
Two Ways to Access the Equity in Your Home
Home Equity Loan1
Best for a specific, one-time expense with a clear budget certainty. Get a lump sum upfront with a fixed rate and steady monthly payments – so you always know what to expect.
- Borrow up to 95% of your homes combined loan to value
- Low fixed rate
- Loan amounts up to $250,000
- No application fee
- 10- or 15-year terms
Home Equity Line of Credit (HELOC)
Best for flexible, on-demand access to cash for ongoing or unexpected expenses. A revolving line of credit so you can use funds as needed and only pay for what you use.
- Borrow up to 95% of your home’s value2
- Variable rate3 as low as %
- Loan amounts from $10,000 to $250,000
- No closing costs, appraisal fees, annual fee, or draw requirements
- Interest-only payment option available
- Up to 15-year draw period, followed by a 15-year repayment period4
A home equity loan gives you a one-time lump sum with a fixed rate and predictable monthly payments. A home equity line of credit (HELOC) is a revolving line of credit that lets you borrow as needed, with payments that can vary based on your balance and rate.
At least one borrower must be named on the deed. Redstone does not accept deeds held in the name of Trust or Business to be used.
You can use a home equity loan or HELOC to borrow against your home’s value for almost any major expense. Common uses include home improvements, consolidating higher-rate debt, covering education or medical costs, or handling unexpected expenses.
A home equity loan is best for one-time, planned expenses, while a HELOC gives you flexible access to funds over time.
With a home equity loan, you’ll have fixed monthly payments over a set term. HELOC payments can vary, often starting with interest-only payments during the draw period, followed by principal and interest during repayment.
Your available amount depends on your home’s value, your current mortgage balance, and your credit profile. Many homeowners can borrow a significant portion of their available equity
This is the amount of time you have to draw funds from the HELOC, currently up to 15 years.
Your available amount depends on your home’s value, your current mortgage balance, and your credit profile. Many homeowners can borrow a significant portion of their available equity.
After the draw period of a HELOC is over, you enter what’s known as a repayment period. The loan converts to a regular monthly payment schedule, during which principal and interest will be due every month, until the balance is paid in full. The repayment period is 15 years. During this time, you will not be able to make additional draws or extend more credit.
No. A home equity loan or HELOC is separate from your existing mortgage, so your current rate and terms stay the same.
1Investment/Rental properties are not eligible for a home equity loan.
2Finance up to 95% of total Loan-To-Value of the equity in your primary residence or 80% of the total Loan-to-Value for a vacation/second home or investment property. RFCU pays closing costs. Property insurance is required. Where applicable, flood insurance may be required.
3The APR is 7.375% and may vary. However, your initial APR is based on an evaluation of your credit and may be different. The maximum APR is 18% or the maximum allowed by law, whichever is less. $10,000 to $250,000 equity lines. Variable rates are subject to change after account opening.
4Draw Period - Lasts 15 years, allows you to borrow as needed, repay, and re-borrow. Repayment Period - Lasts 15 years, during which you cannot make new draws and must pay both principal and interest. Payments - Interest only with a minimum payment of $100. Monthly payments vary based on the outstanding balance and the current APR.
Start with Land. Build What’s Next.
If you're planning to build a home, it starts with the right property. Our land loan financing options make it easier to buy land now and build on your timeline – whether you're purchasing a neighborhood lot or a larger piece of land.
- Finance up to 90% of the land’s value
- No annual maintenance fees
- Flexible terms with fixed and adjustable-rate options
- Faster closings than many traditional mortgage loans
- Available for subdivision lots, acreage, and unimproved land
Featured Rates
Why Choose Redstone for Your Home Loan?
Competitive Rates & Closing Costs
When your choose Redstone, you get great rates, flexible terms, and low closing costs.
Team of Experts
Our Mortgage Team has years of experience and knows the real estate industry inside and out.
Local Servicing
From monthly payments to escrow and insurance, Redstone services nearly every mortgage we make.
