1601 Cedar Street Millville, NJ 08332     (856)-327-5755   Important Information


We offer a variety of loans to qualifying members. We are a risk based lender and therefore the amount you can borrow and the interest rate you are charged are directly related to your credit scores.

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tbafcu home mortgage

Are you ready to make the move toward homeownership? Interest rates are still low and that means more buying power and lower payments. Take the leap and contact one of our mortgage specialists for a pre-approval at 866-432-5427 or log onto mycuhomeloans.com to find out how much house you can afford. Act now and receive a $200 closing cost credit when you close your loan with Thunderbolt Area Federal Credit Union. Already a homeowner? We can help make sure your current loan is still the right option for you or if a refinance could save you money or improve your financial position. It’s time to climb the steps to your new home or a better loan.

Thunderbolt offers Home Equity loans. For information on this type of loan call 856-327-5755 X101 for assistance.

Home Possible Mortgage

Mortgage Department: 866-432-5427

We offer FREDDIC MAC’S Home Possible mortgages that allow low down payment options and flexible credit terms that make it easier for consumers to buy a home. Home Possible mortgages are available for low- to moderate-income homebuyers or buyers in underserved communities.*

Home Possible Key Features:

  • 3% down payment on 1 unit properties
  • 5% down payment on 2-4 unit properties
  • Reduced monthly mortgage insurance payment
  • Borrowers do not have to be a first time homebuyer
  • Permits ownership of other properties (subject must be a primary residence)
  • Allows non-occupant borrowers with maximum LTV of 95% on 1 unit properties
  • Super Conforming Mortgages available
  • Homeownership Education Course may be required

Mortgage Terms Offering

  • Fixed rate mortgages: 30 year, 20 year, 15 year, and 10 year
    • 1 unit, minimum down payment of 3%, maximum LTV 97%/TLTV 105%
    • 2 to 4 unit, minimum down payment of 5%, maximum LTV 95%
  • Adjustable rate mortgages: 5/5, 5/1, 7/1, and 10/1 ARMs
    • 1 to 2 unit, minimum down payment of 5%, maximum LTV 95%
    • 3 to 4 unit, minimum down payment of 25%, maximum LTV 75%

* Borrowers income used to qualify cannot exceed 100% of the median income for the area unless subject is located in a low income tract. The maximum income limitation is only for the income used to qualify. If the borrower has bonus, overtime or commission income not being used to qualify, it is NOT included in the maximum median income for the area. This also includes the co-borrowers income. If the borrower qualifies without the co-borrowers income, then the co-borrowers income is NOT included in the maximum income for that area. Underserved (low income tract) areas do not have a maximum income.

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