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At Fort Liberty Federal Credit Union our commitment is to serve our community and provide exceptional services and products. Our mortgages are nothing short of that commitment and we’re proud to offer a variety of options to our members.

Conventional Mortgage

Are you looking to buy a home or refinance your existing mortgage?  Choose a 15, 20, or 30-year fixed-rate conventional mortgage for steady payments.  Or you can opt for an adjustable-rate mortgage to save on interest.  Adjustable-rate mortgages are especially useful if you don't plan to keep the home for a long time.  And, although the rate and payment may fluctuate, the amount they change at each adjustment and over the life of the loan is capped.  Regardless of the chosen option, fixed or adjustable, you can enjoy the flexibility of paying off your FLFCU mortgage early with no prepayment penalties.

VA Loan - Mortgage

If you are a service member, veteran, or the surviving spouse of a veteran or service member and want to purchase a home, a VA loan may be a viable option. This insured financing option could help you reach your homeownership goals. 

  • What Are VA Loans?

    VA loans are loans partially insured by the Department of Veteran Affairs (VA), so lenders do not need to face the same risks as when offering traditional mortgages. These home loans are only available for qualified borrowers and allow homebuyers to:
    • Build a home
    • Buy and repair a home
    • Purchase a home (including a single residence, a manufactured home, or a lot)
    • Make a home more energy-efficient

  • Who Are These Loans for?

    Qualifying Veterans, servicemembers, and eligible surviving spouses of all branches of the military qualify. Length of service and types of discharge impact eligibility. VA loans may be used for qualified borrowers who want to buy, adapt, build, or repair a home.

  • How Do They Work?

    The VA does not offer loans or money to homebuyers. Instead, they insure a portion of a qualifying mortgage offered by private lenders. If a VA home loan is defaulted, the VA will pay a claim to the lender.
    This means the lender faces less risk of loss when offering loans, which allows the lender to offer better terms and to have fewer restrictions in place for VA loans when compared with traditional mortgages.

  • How Do You Apply for a VA Loan?

    To find out whether a VA loan is right for you or to apply for this type of mortgage, click here.

  • What Are the Pros and Cons?

    There are many VA home loan benefits:
    • You don’t need to pay mortgage insurance.
    • You may need a smaller down payment than is typical with a traditional mortgage, and in some cases, you may not need a down payment at all.
    • Closing costs are often lower, and in some cases, they are covered by the seller.
    • There are no early repayment penalties.
    • You can use the benefit again after you buy your first home.
    • Assistance from the VA may possible for some buyers if they have trouble making payments on their loan
    Despite all these advantages, there are some drawbacks:
    • This type of loan is not available to everyone.
    • Your lender may ask you to pay a loan origination fee or an additional fee when you apply for a VA loan.
    • A VA home loan may have a higher interest rate.
    • Buying a home with no down payment (as the VA-insured loan allows you to do) can mean you end up owing more than the home is worth if home values drop.

FHA Loan - Mortgages

  • What is an FHA Mortgage?

    An FHA mortgage is a form of home loan financing insured by the Federal Housing Administration (FHA). These loans can be an option for homebuyers who might not qualify for private mortgages or other forms of home loan financing.

  • Who Are FHA Loans For?

    FHA loans may be an option for:
    • First-time homebuyers. If you are just entering the real estate market and don’t have considerable equity, an FHA loan may help. It does not require you to have 20% or more as a down payment like most traditional loans and has low closing costs, which allow new homebuyers to save money and afford their home purchase.
    • Buyers with lower credit scores, as low as 580. Qualifying for an FHA-insured loan does not require you to have as high of a credit score as you might need for a traditional home loan.

  • How Does an FHA Loan Work?

    FHA-insured mortgages are guaranteed by the FHA, offering lenders some added peace of mind. When a loan meets FHA requirements and is insured, the lender faces less risk. In the event of a default, the FHA will pay a claim to the lender.
    Since there is less risk for the lender, the lender does not need to be as strict about down payments and credit scores, which are used to determine creditworthiness. This allows the lender to offer mortgages to more homebuyers which, in turn, allows more homebuyers to purchase a home.

  • How Do You Apply for an FHA Loan?

    If you’d like to find out whether you qualify for an FHA loan and to get more information about which type of loan might be right for you, visit our mortgage rates page.

  • What Are the Pros and Cons of an FHA Loan?

    There are several advantages to FHA-insured home loans:
    • You don’t need perfect credit scores or high credit scores to qualify.
    • You have lower closing costs.
    • Your down payment may be as low as 3.5%.
    However, there are disadvantages as well:
    • The monthly payments for this home loan option may be higher than a traditional loan for buyers who have good credit and a moderate down payment.
    • The overall cost of the home loan will likely be higher due to a smaller down payment (larger loan amount) and the higher interest rate.

USDA Loan - Mortgage

  • What does this program do?

    This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers.

  • Who may apply for this program? 

    Applicants must:
    • Meet income-eligibility
    • Agree to personally occupy the dwelling as their primary residence
    • Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien
    • Have the legal capacity to incur the loan obligation
    • Have not been suspended or debarred from participation in federal programs
    • Demonstrate the willingness to meet credit obligations in a timely manner
    • Purchase a property that meets all program criteria and be in an eligible area

  • How do we get started or have questions?

    To apply for this program, please call (910) 864-2232 to contact a Fort Liberty Federal Credit Union mortgage lender. We will assist you with the application process as well as answer any questions you may have.

10-Year Mortgage

  • Is a 10-year mortgage a good idea for you?

    Click for details.

    Maybe you think a 30-year mortgage gives you more affordable monthly payments. While that's true, there are many advantages to a 10-year mortgage:

    • It allows you to pay off your home faster. Do you really want to be in debt for three decades? With a 10-year mortgage, you can pay off your home in a reasonable amount of time and then start focusing on investments, building your business or making other financial decisions.
    • It builds equity in your home faster. Having little home equity puts you in a precarious position if you want to borrow against the value of your home or if your financial situation changes.
    • It gives you more refinancing options. Since 10-year mortgages allow you to build up equity fast, they give you more options if you choose to refinance later.
    • It prevents surprises. If you choose a longer-term mortgage, you face a higher risk of experiencing life-altering events that could affect your ability to pay off your home. Whether you have another child, experience career difficulties, or face other life-altering changes, being able to pay off your home sooner means you can own your home outright — while you still have your current salary and lifestyle.
    • It lets you live your life. Paying off your home in a decade means you can put your mortgage behind you and start focusing on building wealth in other ways. It gives you a sense of accomplishment and allows you to move on to purchasing additional properties or make other investments for your family and your future.

      • At Fort Liberty Federal Credit Union, we don't expect you to make the decision yourself. You can apply for a home loan online, or we can sit down with you and review options for making your home affordable. If you want to pay off your home in a decade, but are concerned about monthly costs, we can walk you through the process or even help you calculate how much you’ll pay every month. We can help you save money in closing costs and over the life of your loan.

  • Getting Started With a Mortgage Today

    Click for details.

    Like all mortgages, our 10-Year Mortgage depends on the home you purchased and on your qualifications. Your employment, credit rating, and other factors will be considered when determining how much home you can afford and the type of home loan that would be the right fit for you. Our online application can help you understand how much you qualify for and you can always contact us to find out more. Unlike a bank, Fort Liberty Federal Credit Union makes it easy to qualify for a mortgage. Banks sell shares of their stock to shareholders and must turn a profit to keep shareholders happy. Fort Liberty Federal Credit Union is a nonprofit organization that is accountable to you, our members. This allows us to keep our low interest rate loans and allows us to offer more flexible terms and financial products.

On-Time Closing Guarantee

If you are looking for a new home, we have mortgages to help get you into a home at a great low rate and an affordable monthly payment. If you’d like to refinance your existing mortgage to take advantage of a better rate or to give you a little breathing room in your monthly budget, our team would be pleased to meet with you to create a plan for your needs. Fort Liberty Federal Credit Union is committed to providing the fastest closing times in the Industry. We guarantee we will close a purchase transaction on time or we’ll credit the borrowers $500 at the time of closing.

  • Conditions for the On-Time Closing Guarantee:

    Click for details.

    • W2 Borrowers (Must have the same job for the last 2 years)
    • FHA and Conventional loans
    • Provide all income / asset documentation along with a ratified sales contract
    • Loan amounts over $200,000 to $679,650 (Non-Conforming/Jumbo/Non Agency Loans NOT Eligible)
    • Borrowers must have filed tax returns for the last 2 years
    • Desktop underwriter approved/eligible loans only
    • Primary owner occupied properties only
    • Credit score of at least 680

  • Ineligible for the Closing Guarantee:

    Click for details.

    • Self-employed borrowers
    • Delays in appraisals / value issues
    • Delayed payoffs
    • Subordination agreements
    • Non arms-length transactions
    • Title issues
    • Condominiums
    • Filed for extension with the IRS
    • Delays in obtaining mortgage insurance
    • HOA delays
    • Short sales / foreclosures
    • Gift Funds
    • Second homes/ Investment properties
    • Non-Conforming/Jumbo/Non Agency Loans
    • Refinance or Cash-out refinance

If the property / borrowers do NOT qualify for the On-Time Closing Guarantee, we will still make every effort to close the loan in the shortest time possible! All loan conditions must be received 7 business days prior to closing. Minimum loan processing time is 21 days.

NMLS Information

Our mortgage loan originators are registered in the Nationwide Multistate Licensing System & Registry (NMLS). The NMLS is a national registry and database of financial professionals. At Fort Liberty Federal Credit Union, we’re proud of our loan originators and post their NMLS ID so you can get some peace of mind before calling us about your mortgage.

NMLS Information

FLFCU NMLS#452412 

Mortgage Loan Originators NMLS ID
Carolyn C. House 2398602
Christina Padilla 2030732
Jeanne M. Schumacher 2042689
Jessica R. Deleon 2042765
Joseline Sizemore 2431391
Judy Davis 1740870
Kadarris Colson 1792707
Melodie Schwann Mathis 1621422
Meredith J. Hall 1729855
Michelle Leah Crockett 2327054
Olayinka Adenike Ogunbiyi 1614646
Paula Evette Linyard 2225519
Randall Neal Spivey 529746
Reagan Alexis Fletcher 2147588
Regina A. Wilson 2426401
Shantrice Watkins 2030411
Shellie Renee Goldston 2436413
Sherrie Dean Stephenson 758181
Tammy McKeithan McLean 1729914
Troy Christopher Martens 1271654

*Revised 3/13/2024

1Available or lendable equity is typically defined by the LTV (loan-to-value). Lendable equity is determined by subtracting your first mortgage balance from the property's established market value. We use 2 ways to establish market value. 1) We employ the services of an automated valuation system (AVM) where we supply certain information about your property to a third party data system and in turn we receive a perceived value based upon numerous characteristics. 2) The second method used to determine value is obtaining a certified appraisal as described in the following note. There may be circumstances where a certified appraisal is required in addition to the AVM.
2If the loan amount is greater than $100,000 or outside of Cumberland and its contiguous counties an appraisal performed by a NC State certified appraiser must be performed. You will be responsible for the cost associated with the appraisal which is typically $450. The appraisal fee must be paid prior to the credit union ordering the service and is non-refundable once the appraisal is completed. There are circumstances that may require a certified appraisal on loans less than $100,000. Please speak with one of our mortgage loan officers for complete details.
3Assumes your loan is less than $100,000 and the property used as collateral is within Cumberland or its contiguous counties.
4Prime rate as advertised in the Wall Street Journal on the last business day of a calendar quarter. This is the index. Your rate is subject to change quarterly based on the prime on the last business day of the previous quarter. For Prime Rate click here.
5Consult your tax advisor.