Mortgages
FInance a new home or refinance your current home
Competitive fixed-rate and adjustable-rate options
Exclusive home loan programs built for law enforcement
HOME LOANS FOR BUYING OR REFINANCING
Find a home loan that fits your plans. LAPFCU can help you finance a new home or refinance your current home. We offer competitive rates, lower fees, flexible mortgage options, and personalized support. We also offer exclusive options designed to benefit the law enforcement community.
Mortgage Calculator
Estimate your monthly payment and loan amount.
FIND THE RIGHT HOME LOAN
Explore options for a first home, a larger home, a vacation home, an investment property,2 or a retirement home. Our mortgage team will guide you from application through payoff.
- Free mortgage pre-qualification helps you understand your buying power
- Fast, secure online application
- Loans up to $2.5 million
- Mortgage lending available in all 50 states
- In-house servicing for the life of your mortgage
- End of Watch Debt Protection included at no cost
- No prepayment penalties, so you have the ability to pay off your loan early
- Personalized service from local mortgage professionals
FIXED-RATE MORTGAGE3
Lock in a predictable monthly payment with a fixed interest rate for the life of your loan.
BEST FOR: Homebuyers who plan to stay in their home for many years and want consistent payments.
- Down payments as low as 3%
- Fixed monthly principal and interest payment
- Protection from future rate increases
- 10-, 15-, 20-, and 30-year terms
- No prepayment penalty
- Available in all 50 states
ADJUSTABLE-RATE MORTGAGE (ARM)4
An ARM starts with a low fixed interest rate for a set period. After that, the rate adjusts at scheduled intervals based on market conditions. Your payment may change.
BEST FOR: Buyers who want a lower starting rate. Also, buyers who expect to sell, refinance, or pay down their mortgage before their first adjustment period.
- Down payments as low as 10%
- Lower starting rate than many fixed-rate mortgages
- Lower initial monthly payments
- 30-year loan term
- Rate adjustment caps limit how much your rate can increase at each adjustment
- You can make additional principal payments to build equity faster
- No prepayment penalty
| ADJUSTABLE-RATE MORTGAGE | HOW IT WORKS | BENEFITS |
| 5/1 ARM4 | Fixed rate for the first 5 years. Then the rate adjusts once a year for the remaining loan term | Lowest initial rate. A good choice if you expect to sell or refinance within 5 years. |
| 5/1 ARM4 | Fixed rate for the first 5 years. Then the rate adjusts once every 5 years for the remaining loan term | More stability after first adjustment. Your rate stays the same for 5 years at a time, giving you more predictable payments than a 5/1 ARM. |
| 15/15 ARM | Fixed rate for the first 15 years. Then the rate adjusts only once for the final 15 years | Long-term payment stability with only one adjustment. A good choice if you’ll live in a home long term. You get a lower rate with fewer rate changes and more predictable payments. |
FIRST-TIME HOMEBUYER LOANS
WELCOME HOME LOAN6
Buying your first home may take less money upfront. Our Welcome Home Loan helps first-time buyers purchase sooner and keep costs lower.
- 3% down payment
- 30-year fixed mortgage rate
- Reduced mortgage insurance costs
- Use gift funds for down payment and closing costs
- Lower monthly payments
- No prepayment penalty
Special Feature: Eligible rental income from an accessory dwelling unit (ADU) or boarder (room rental) may help you qualify.
- ADU rental income must be verifiable
- Boarder income can count for up to 30% of your qualifying income, with a 12-month history
- Contact a mortgage loan officer for details
HEROES HOME LOAN
The Heroes Home Loan is designed exclusively for sworn and civilian law enforcement professionals. It offers buyers a way to purchase a home with no down payment and no private mortgage insurance.
This mortgage is available to first-time homebuyers and those who haven’t owned a home within the last three years.
- 100% financing
- No down payment
- No expensive private mortgage insurance
- Exclusively for sworn and civilian law enforcement professionals
- 30- and 40-year fixed-rate terms
- Competitive rates and lower upfront costs
REFINANCE YOUR MORTGAGE
Refinancing your mortgage may help lower your monthly payment, reduce your interest rate, shorten your loan term, or access your home equity. Our mortgage specialists help determine whether refinancing makes financial sense based on your goals.
- Refinance up to 80% of your home’s value
- Competitive refinance rates
- Lower monthly payments
- Switch from an ARM to a fixed-rate mortgage
- Shorten your repayment period
- Reduce total interest or monthly cost
GET STARTED
Take the next step toward buying a home or refinancing.
- Apply online
- Get pre-approved
- Schedule a virtual appointment
- Email a loan officer
ONE-STOP HOMEBUYING SUPPORT
HOMEOWNERS INSURANCE: Get comprehensive coverage through our in-house partner, LAPCUSO Insurance Services.
HOMEBUYING SERVICE: HomeAdvantage® is free for members. Access current home listings, connect with vetted agents, and earn cash rewards.
FAQs
LAPFCU specializes in serving the law enforcement community. Our mortgage specialists understand police, sheriff’s, and public safety careers, offer competitive rates, provide personalized guidance, and service loans in-house for the life of the mortgage.
No. Members can obtain mortgages for properties throughout all 50 states, subject to underwriting requirements.
LAPFCU offers:
- Fixed-rate mortgages
- Adjustable-rate mortgages (ARMs)
- Mortgage refinancing
- First-time homebuyer loans
- Heroes Home Loan for law enforcement professionals
The required down payment depends on the loan program.
- Fixed-rate mortgages start as low as 3% down.
- Welcome Home Loans require 3% down.
- Heroes Home Loans offer qualified buyers up to 100% financing with no down payment.
A fixed-rate mortgage keeps the same interest rate throughout the loan term, providing predictable monthly payments.
An adjustable-rate mortgage starts with a lower fixed rate for an introductory period. After that, the interest rate adjusts periodically according to market conditions, subject to rate caps.
Mortgage pre-qualification provides an estimate of how much you may qualify to borrow based on your financial information. It helps establish your budget before you begin shop[ping for a home so you know how much you can afford.
Yes. Refinancing may help reduce your interest rate, lower your monthly payment, change your loan term, or convert an adjustable-rate mortgage to a fixed-rate mortgage, subject to qualification.
Yes. Unlike many lenders that sell mortgage servicing to third parties, LAPFCU services mortgages in-house for the life of your loan. This means you’ll continue working with the same trusted credit union after your loan closes.
Eligible active-duty sworn and civilian law enforcement members receive complimentary End of Watch Debt Protection on qualifying loans. If an eligible borrower dies in the line of duty, qualifying LAPFCU loan balances are canceled up to program limits.
Many borrowers use overtime, shift differential, and other eligible income sources during the mortgage qualification process. Your mortgage loan officer will review your income documentation and explain underwriting requirements.
You can begin by completing an online mortgage application, requesting a free pre-qualification, scheduling a virtual appointment with a mortgage loan officer, or speaking with a mortgage specialist to discuss your home financing goals.
This has by far been the smoothest transaction I have had when buying or refinancing a home. I can’t thank you enough! You took the time to listen and help me consider my best options, so now I have a new home! Another bank may not have done all this. The entire team was extremely responsive and helpful. This is the type of customer service that will keep me coming back to do business with your credit union.
I was starting to wonder if I’d ever be able to buy a home. An LAPFCU mortgage associate sat with me and helped me find the best loan for me, and I was able to get a better house than I thought!
The entire process was so easy! Everyone was very friendly and professional. From my first contact with Angela and Jorge to Van to the actual signing at your location. The process was fast. Within a couple of weeks we were approved and funded. Every time I spoke with someone, they were kind and helpful. I never felt like I was asking too many questions. Great experience with all of your staff.
EDUCATIONAL RESOURCES
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LAPFCU is a full service financial services provider for sworn and civilian law enforcement professionals of federal, state, county, and city agencies and their family members in Southern California.