Not Having 20% Down Payment Money Boxing You In? Tower’s $0 Down Mortgage* puts you in your dream home. Begin your search and reduce closing costs with our HomeAdvantage® Program. Use Tower Title Services for your closing — prevent delays, saves time and money.

*100% financing available for purchases of primary residences in MD, DC, VA, TX, CO and FL. Condominiums are excluded for FL. For loan amounts up to $453,100 and Loan-to-Value of 97.01% to 100%. 97% financing available in most states. Based on credit underwriting. 100% jumbo financing available for purchases of primary residences in MD, DC, and VA. For loan amounts from $453,101 to $625,500 and Loan-to-Value of 90.01% to 100%.

Home ownership is possible for you and your family! Rates are still low making it a great time to buy or refinance. At Tower Federal Credit Union, we offer many different mortgage options that’ll fit your needs and budget. With flexible terms, great rates, and our easy online application process, you’ll feel confident that your experience will be stress-free.

Tower offers:

Tower Federal Credit Union offers many mortgage options – each with its own advantages. We’ll help you find the right one to fit your needs.

Tower Federal Credit Union’s fixed rate mortgages protect you from rising interest rates so you can expect the same, stable payment each month. This option is best for members who plan on staying in their home long term.

  • Choose from 10, 15, 20, or 30-year fixed
  • VA and land loans
  • Locks in your rate for the life of your loan
  • Gives you predictable payments for the life of your loan
  • Second home and Investor loans available
  • Interest may be tax-deductible

Remember, when choosing which mortgage term, you should consider the amount of interest you’d pay over the course of your loan. The longer the term, the more interest you’ll pay. If you can make extra monthly payments, and apply them toward the principal balance, you could save thousands on interest over the course of your loan.


Tower’s Adjustable Rate Mortgage, or ARM, is a loan with an interest rate that adjusts on a predetermined basis. Most ARMs begin with an initial fixed rate for a certain period of time and then adjust up or down according to the index on which it is based, after the fixed period ends.  For example, if you have a 5/1 ARM, the interest rate is fixed for the first five years and then the rate adjusts once each year beginning in year six.

ARMs may be a good option when financing a home. For some borrowers, the initial savings may be worth the risk of rising interest rates down the road. Consider your future; if you plan to stay in the home short-term or you are comfortable with potentially making a higher payment in the future, an ARM may be a beneficial choice.

  • Choose from a 3/1, 5/1, or 7/1 ARM 30 year mortgage
  • Keeps your mortgage payment low initially
  • Rate and monthly payment may decrease if rates/indices go down
  • May be eligible to convert to a fixed rate mortgage later
  • Jumbo ARM loans are available
  • Interest may be tax deductible


Are you upgrading to a much larger home with a much larger price tag? Then our Jumbo Mortgage option is your answer. Our Jumbo loan covers your financing if you need a loan amount that goes over the conventional loan limit. Tower’s 100% Jumbo Mortgage is for loans from $453,101 to $625,500.

  • Available for fixed and adjustable rate mortgages
  • Interest may be tax deductible


Tower’s 100% financing option removes the large down payment obstacle from buying your dream home! This mortgage is especially beneficial for first-time homebuyers.

  • No money down required
  • 30 year fixed and 5/1 ARM available
  • For primary residences (purchase only)
  • Available in MD, DC, VA, FL, CO and TX (excludes condominiums in FL)
  • 100% Jumbo financing from $453,101 to $625,500 available in MD, DC, and VA

Contact us to talk with a loan advisor for eligibility details.

Tower Federal Credit Union also offers unique loans for special circumstances.

Bridge Loan – A Tower Bridge loan helps you close the mortgage gap between purchasing your new home and selling your existing property. If your current home doesn’t sell in time, a Bridge loan—backed by the equity in your existing property—gives you the money you need for a down payment, allowing you to close on your new home.

  • 12 month balloon
  • No monthly payments – interest accrues and balance is due at maturity

Land Loan – Our Land Loan allows you to purchase land without the pressure of having to build and complete construction within a certain time.


Rates are subject to change at anytime.

The rates and points listed below do not take into consideration possible adjustments based on an evaluation of the following:

Member’s credit score, Loan-to-Value, Combined Loan-to-Value, subordinate financing, occupancy, appraised value, down payment, property type, property use, and loan purpose; so rates and points may differ for individuals.

For more information on rates, or additional products, or to apply for a mortgage loan, speak to a loan advisor at 301-497-7000 or 866-56-TOWER.

Multiply the payment factor by each thousand dollars borrowed for the monthly payment.

First Mortgage Rates - Fixed
Loan TypeRates
(as low as)
(as low as)
Payment Factor
(per $1,000)
30 Year4.750%None4.799%$5.2165
30 Year4.625%0.500%4.716%$5.1414
30 Year4.500%1.250%4.656%$5.0669
30 Year - 100% Financing *5.000%None5.050%$5.3682
30 Year - 100% Financing *4.875%0.500%4.969%$5.2921
30 Year - 100% Financing *4.750%1.250%4.909%$5.2165
30 Year VA4.875%None4.925%$5.2921
30 Year VA4.750%0.500%4.843%$5.2165
30 Year VA4.625%1.250%4.782%$5.1414
20 Year4.625%None4.691%$6.3942
20 Year4.500%0.500%4.624%$6.3265
20 Year4.375%1.250%4.587%$6.2592
15 Year4.375%None4.457%$7.5862
15 Year4.250%0.500%4.406%$7.5228
15 Year4.125%0.750%4.317%$7.4597
10 Year4.125%None4.240%$10.1840
10 Year4.000%0.500%4.113%$10.1245
10 Year3.875%0.750%3.987%$10.0652
30 Year Jumbo4.875%None4.911%$5.2921
30 Year Jumbo4.750%0.500%4.829%$5.2165
30 Year Jumbo4.625%1.250%4.768%$5.1414
30 Year Jumbo - 100% Financing ^5.125%None5.162%$5.4449
30 Year Jumbo - 100% Financing ^5.000%0.500%5.081%$5.3682
30 Year Jumbo - 100% Financing ^4.875%1.250%5.021%$5.2921
15 Year Jumbo4.750%None4.811%$7.7783
15 Year Jumbo4.625%0.500%4.761%$7.7140
15 Year Jumbo4.500%0.750%4.672%$7.6499
10 Year Jumbo4.500%None4.585%$10.3638
10 Year Jumbo4.375%0.500%4.566%$10.3037
10 Year Jumbo4.250%0.750%4.494%$10.2438
15 Year Land4.750%None4.835%$7.7783
15 Year Land4.625%0.500%4.785%$7.7140
15 Year Land4.500%0.750%4.697%$7.6499
First Mortgage Rates - Adjustable Rate
Loan TypeRates
(as low as)
(as low as)
Payment Factor
(per $1,000)
5 Year ARM3.375%None4.746%$4.4210
5 Year ARM3.000%1.000%4.673%$4.2160
5 Year ARM - 100% Financing*3.625%None4.842%$4.5605
5 Year ARM - 100% Financing*3.250%1.000%4.777%$4.3521
7 Year ARM3.875%None4.751%$4.7024
7 Year ARM3.750%1.000%4.775%$4.6312
5 Year ARM Jumbo3.375%None4.871%$4.4210
5 Year ARM Jumbo3.000%1.000%4.380%$4.2160
5 Year ARM Jumbo - 100% Financing^3.625%None4.976%$4.5605
5 Year ARM Jumbo - 100% Financing^3.250%1.000%4.903%$4.3521
7 Year ARM Jumbo3.875%None4.862%$4.7024
7 Year ARM Jumbo3.750%1.000%4.878%$4.6312
Bridge Loan Rates
Loan TypeRatesPointsAPRPayment Factor
(per $1,000)
1 Year Balloon (no monthly payments)7.875%None8.864%N/A
Current Rate Indexes
ARM Index 1 Year Treasury2.680%

Notes for First Mortgage Rates:
* 100% financing available for purchases of primary residences in MD, DC, VA, TX, CO and FL. Condominiums are excluded for Florida. For loan amounts up to $453,100 and LTV’s of 97.01% to 100%.

^ 100% jumbo financing available for purchases of primary residences in MD, DC, and VA. For loan amounts from $453,101 to $625,500 and LTV’s of 90.01% to 100%.

Low down payment options are available for 30 year fixed rate term only with LTV’s of 95.01% – 97%.

Second/Vacation home loans are available for most products.

Mobile Home/Manufactured Home loans are available for fixed rates only. An additional .50% will be added to the rate.

Jumbo loans are available for loan amounts from $453,101 to $850,000.

Investment Property Home loans are available for fixed rates only, excluding the 10 year term, the following will be added to the rate:
For LTV ≤ 75% add .500%
For LTV 75.01-80% add .875%
For refinance transactions, the maximum LTV is 75%
(Some restrictions apply)

APR for conforming loans is based on a loan amount of $453,100 and $1,660 in other fees.
APR for non-conforming loans is based on a loan amount of $850,000 and $1,760 in other fees.


Rates effective: 12/16/2018

Get Started

Our convenient Loan Consultant feature can help you decide what products and rates are right for you.

We offer fast, secure mortgage applications. Just answer a few simple questions and you’ll receive an immediate response! You can also return to an application you started, view your pending application or check the status of your application securely online.

Apply Now    View Pending Application


Not a member of Tower Federal Credit Union yet? See if you are eligible to join!

For further assistance, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER.


Check with a tax advisor.