Veridian Credit Union

The rates below are effective February 25, 2020, for 45-day rate locks for single-family, owner-occupied purchases or rate/term refinancing with escrow. Other term lengths are available for certain loan types. 

Fixed-Rate Mortgages

These mortgages have a stable interest rate for the life of the loan. Looking for our 10 & Done home equity loan?

30-Year Term

Loan amount Rate APR Payment example
$300,000 3.125% 3.146% $1,285.13
$200,000 3.125% 3.157% $856.75
$100,000 3.250% 3.308% $435.21

15-Year Term

Loan amount Rate APR Payment example
$300,000 2.625% 2.663% $2,018.07
$200,000 2.625% 2.682% $1,345.38
$100,000 2.875% 2.985% $684.59

Adjustable-Rate Mortgages

These mortgages have an initial period with a fixed rate, then a variable rate that can increase or decrease annually for the rest of the 30-year term.

Fixed term Rate^ APR Payment example
5 years 3.500% 4.530% $673.57
7 years 3.750% 4.611% $694.67
10 years 4.000% 4.483% $716.12

Other Mortgages

Type Term Rate APR Payment example
Veterans Affairs (VA) Fixed-Rate Mortgage 30 years 2.750% 2.847% $612.36
USDA Rural Development Fixed-Rate Mortgage 30 years 2.750% 3.441% $612.36
Iowa Financing Authority (IFA) Fixed-Rate Mortgage 30 years See IFA website -- --

Construction and Lot Loans

These mortgages feature a one-time closing, and construction loans have the same interest rate during the construction draw and permanent financing.

Type Loan amount Rate APR Payment example
15-Year Fixed Mortgage, 1-Year Lot Loan Balloon** $100,000 2.625% 3.419% $672.69
15-Year Fixed Mortgage $300,000 2.875% 3.170% $2,053.76
10-Year ARM (30-year term) $300,000 4.250%^ 4.717% $1,475.82
10-Year ARM (30-year term), 1 discount point $300,000 3.750%^ 4.524% $1,389.35

**A 3-year lot loan balloon is also available.

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≁APR = Annual Percentage Rate. Rates based on 740 credit score, 75% loan to value and, unless otherwise noted, a loan amount of $150,000 and no discount points. Lower interest rates available by paying discount points. Rates can vary for other loan amounts and are subject to change without notice. Veridian is not responsible for typographical errors or omissions. Payment examples do not include taxes and insurance; if applicable, payment will be higher. All Veridian mortgages have no origination fee. Other loan terms may be available. Veridian NMLS ID# 531586.

^ARM rates are calculated by adding a margin, 2.75%, to an index, the 1-year LIBOR rate. The minimum rate is 2.75%. Rates can increase no more than 2% each year and 6% total.