(NMLS #403469)

City of Boston Credit Union has a wide variety of home loans sure to meet the diverse needs of our membership, from first time home buyers, new purchases, refinancing and Veteran’s programs.


Limited Time Home Purchase Promotion

City of Boston Credit Union is now offering a LIMITED TIME discount on new mortgage loans to City of Boston Credit Union to help members purchase their new home! This discount promotion applies to purchase transactions only. This discount promotion enables Members to discount 0.125% APR* off the lowest rate they qualify for! If you are buying a new home, consider us for your financing needs! Please visit the Rates page for more information.


* Annual Percentage Rate (“APR”) and Interest Rate (“Rate”) are effective June 1, 2021 and are subject to change without notice. New Mortgages to City of Boston Credit Union only. This discount promotion applies to purchase transactions only. The APR and Rate are calculated using a loan amount of $548,250 for a term of 30 years or 360 months and a down payment of 20%. Payments are $4.21 per $1,000 borrowed. Payment does not include taxes and insurance; your payment may be greater. Complete application required, with approval subject to meeting underwriting qualifications. Available on owner occupied, 1-4 unit, purchase transactions with a maximum loan amount of $1,500,000. Fees and closing costs may apply. This rate and APR are not available for programs offering discounted rates or closing costs. Must be eligible for City of Boston Credit Union membership to apply. Subject to Credit and Underwriting approval.



City of Boston Credit Union finances owner-occupied properties (1-4 family) up to 95% of the lower of the purchase price or appraised value. CBCU offers mortgages up to a maximum of $1,500,000.  Contact us at 617-616-9191 to discuss a FREE mortgage prequalification. Visit our Loan Rates page for current rates and terms available.  Use our calculator to get an idea of how much your monthly mortgage payment would be.

First Time Home Buyer Program

Contact us at 617-616-9191 for our special rates and terms for first time home buyers.

Second Homes

We also finance up to 80% of the purchase price for second homes.

Special Mortgage Programs

City of Boston Credit Union participates in various special mortgage programs, please contact us at 617-616-9191 about available options. 

Veterans Program

City of Boston Credit Union has special mortgage programs for veterans through our partner Allanach Mortgage (brokers license MA#MS6033).  Check out the current rates by clicking here.

Real Estate Property Location Requirements

To apply for a real estate loan with City of Boston Credit Union the following must apply:

  1. Applicants/members must be eligible for membership in City of Boston Credit Union** (Click here for membership eligibility qualifications)

**Membership requires a $5.00 deposit into a Primary Share Account.


Mortgage Loan Application Check List:
1. W-2’s and signed income tax returns (1040) for last two years.
2. One month’s pay stubs
3. Bank statements for loans you owe – if obligations are to be paid off
4. Bank statements for assets you own (checking, savings, CDs, etc.) – two months
5. Current credit card statements and statements for other obligations – if obligations are to be paid off
6. Current mortgage balance statement – if refinancing
7. Copy of deed with recording information or copy of Certificate of Title
8. Substantiate rental income by lease or letter from tenant – if applicable
9. Written explanation of any reported credit deficiencies
10. Fully completed and signed Mortgage Application – please type or print neatly
11. Real estate tax bill showing current assessed value
12. A 6-d certificate if your property is a condominium – issued by Condo Association (needed at closing)

Please submit copies of these additional documents for purchase:
1. Signed Purchase and Sale Agreement
2. If house has a septic system – Title V Septic System Report
3. Proof of payment of deposit
4. Proof of funds available for down payment and closing costs
5. Gift letter, if down payment is by a cash gift or a gift of equity in property

Appointments are necessary when applying for Home Mortgages or Home Equity Loans, however, you may pick up an application package anytime at any branch location. When your ready to submit your application and appropriate materials please contact your nearest branch location to set up your appointment.  Applications dropped off without an appointment will not be accepted.