Mortgage

Barksdale Federal is your home loan headquarters. We offer fixed rate and adjustable rate loans with terms to fit your needs.

Buy a Home

Are you ready to buy your dream home? Before you start shopping, visit with one of our Home Lending Consultants and get pre-qualified for your home loan. You’ll be able to shop for a new home in the price range that best fits your budget.
 

FHA – Perfect for borrowers whose mortgage payment will be a large portion of their take home pay, borrowers with a low credit score or a small down payment.

  • Down Payment as low as 3.5%
  • Private Mortgage Insurance (PMI) required for the life of the loan
  • Fewer qualification restrictions
  • Fixed Rate
  • 10, 15, 30 year terms

Example

VA – Perfect for U.S. Veterans, Armed Service members and their spouses.

  • No Down Payment Required
  • No Private Mortgage Insurance (PMI)
  • Lower interest rate than most Conventional and FHA loans
  • No Pre-Payment Penalty
  • Fixed rates
  • 10, 15, 30 year terms

Example

Conventional – Perfect for borrowers with good or excellent credit.

  • Down Payment as low as 3%*
  • No Private Mortgage Insurance if a 20% down payment is made
  • Private Mortgage Insurance can be cancelled once the home equity reaches 20%
  • Fixed rates
  • 10, 15, 20, 30 year terms

*Members may be eligible for a down payment as low as 3% if they first time home buyers or have not owned a home within the last three years. A minimum of 5% down payment is required for individuals who are not first time home buyers.

Example

Refinance a Home

Have you considered refinancing your home? If so, look no further than Barksdale Federal. We may be able to help lower your interest rate, lower your monthly payment or help you get rid of private mortgage insurance.
 

FHA – Perfect for borrowers whose mortgage payment will be a large portion of their take home pay, borrowers with a low credit score or a small down payment.

  • Down Payment as low as 3.5%
  • Private Mortgage Insurance (PMI) required for the life of the loan
  • Fewer qualification restrictions
  • Fixed Rate
  • 10, 15, 30 year terms

Example

VA – Perfect for U.S. Veterans, Armed Service members and their spouses.

  • No Down Payment Required
  • No Private Mortgage Insurance (PMI)
  • Lower interest rate than most Conventional and FHA loans
  • No Pre-Payment Penalty
  • Fixed rates
  • 10, 15, 30 year terms

Example

Conventional – Perfect for borrowers with good or excellent credit.

  • Down Payment as low as 3%*
  • No Private Mortgage Insurance if a 20% down payment is made
  • Private Mortgage Insurance can be cancelled once the home equity reaches 20%
  • Fixed rates
  • 10, 15, 20, 30 year terms

*Members may be eligible for a down payment as low as 3% if they first time home buyers or have not owned a home within the last three years. A minimum of 5% down payment is required for individuals who are not first time home buyers.

Example

Build a Home

Barksdale Federal can help you build your dream home. Before you begin drafting plans and searching for land visit with one of our Home Lending Consultants (HLC) for pre-qualification. You’ll have peace of mind knowing how much you can borrow, before you get started.
 

Interim/Construction – Perfect for borrowers who may not be able to accurately anticipate the final costs of building their home.

With our Interim/Construction Loan you’ll be given a loan to cover costs during your home’s construction phase. The amount borrowed during this period will be rolled into a 1st mortgage once construction is complete.

  • 12 month term
  • Draws to complete construction

Land Loan – Perfect for borrowers would like to purchase land.

  • No limits on acreage
  • 12 year maximum term

FHA – Perfect for borrowers whose mortgage payment will be a large portion of their take home pay, borrowers with a low credit score or a small down payment.

  • Down Payment as low as 3.5%
  • Private Mortgage Insurance (PMI) required for the life of the loan
  • Fewer qualification restrictions
  • Fixed Rate
  • 10, 15, 30 year terms

Example

VA – Perfect for U.S. Veterans, Armed Service members and their spouses.

  • No Down Payment Required
  • No Private Mortgage Insurance (PMI)
  • Lower interest rate than most Conventional and FHA loans
  • No Pre-Payment Penalty
  • Fixed rates
  • 10, 15, 30 year terms

Example

Conventional – Perfect for borrowers with good or excellent credit.

  • Down Payment as low as 3%*
  • No Private Mortgage Insurance if a 20% down payment is made
  • Private Mortgage Insurance can be cancelled once the home equity reaches 20%
  • Fixed rates
  • 10, 15, 20, 30 year terms

*Members may be eligible for a down payment as low as 3% if they first time home buyers or have not owned a home within the last three years. A minimum of 5% down payment is required for individuals who are not first time home buyers.

Example

Unlock Your Equity

Unlock the equity in your home with our Home Equity Line of Credit or Second Mortgage. You can use the funds for a variety of purposes such as education, home improvements, debt consolidation and much more!
 

Home Equity Line of Credit

Our Home Equity Line of Credit is a revolving credit line that comes with free checks. When you use your HELOC, you write yourself a loan for whatever expenses you need to cover. You may also transfer funds from your HELOC to your other BFCU accounts using online banking, by phone or in person.

  • Borrow as little as $10,000 or as much as $100,000.
  • No origination fee
  • No appraisal fee
  • No points
  • No annual fee*
  • Borrow up to 95% of the equity in your home**
  • The interest you pay may be tax deductible (Consult your tax advisor)

*$300 fee may apply if initial draw is less than $20,000.
**Principal residence only.

Example

Second Mortgage

Our fixed rate Second Mortgage makes the equity in your home* available for you to use. Once you’ve borrowed funds, you’ll pay them back over a set term - ranging from 5 to 15 years.

*$500.00 non-refundable application fee on loans greater than $100,000.00.