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First Mortgages

  • Overview
  • Rates
  • Resources

Looking to purchase or refinance a home? Let Redwood Credit Union help you with a mortgage loan that fits your budget and your individual needs.

Product Features

  • Low rates on fixed and variable rate loans
  • No closing cost options
  • 3% down payment options
  • Jumbo loans up to $2 million
  • Guaranteed closing dates for home purchases
  • Reverse mortgages - learn more about reverse mortgages by calling our partners, Alliance Reverse Mortgage, at 1 (800) 816-2655.

Adjustable Rate Mortgages (ARM)

Fixed Rate

At a Glance
  • Fixed initial interest rate
  • Adjust periodically thereafter.
  • Both rate and payment stay the same throughout life of the loan.
  • Lower start rate in early years of loan for increased buying power.

  • Fixed rate throughout life of loan.


Rate Changes

Rate caps provide protection from fluctuations.

Fixed rate throughout life of the loan.


Fixed payments for initial period provide stability, but can adjust thereafter based on market and loan type/terms.

Fixed payments make budgeting and planning easy and payments consistent.


30-year term with rate fixed for first: 

  • 3 years (3/1 ARM)
  • 5 years (5/1 ARM & 5/5 ARM) 
  • 7 years (7/1 ARM)
  • 10 years (10/1 ARM)

Adjusts annually thereafter. Rates on and 5/5 ARM adjust every 5 years, respectively, after initial fixed rate period. 

Choose from a variety of terms to fit your needs:

  • 30 years
  • 20 years
  • 15 years
  • 10 years
Recommendation Best for those planning to sell or refinance in 2 – 7 years. Best for those planning to own home longer term. 

Apply for a Mortgage

To apply for a first or second mortgage, call our lending team at:

1 (800) 609-9009 or (707) 576-5240

or email