Take the first step towards the right mortgage
Latest rates
All rates3/3 Adjustable
as low as15 Year Fixed
as low asMyChoice Mortgages
rate as low asMortgage products for a new purchase or refinance
Adjustable Rate Mortgages
Our Adjustable Rate Mortgages offer you low initial rates to fit your situation - whether a first time home buyer or looking to stay in your home for less than 10 years.
Fixed Rate Mortgages
Are you looking for your forever home? Do you want peace of mind knowing that your mortgage rate will stay fixed for the life of the loan? Then a Fixed Rate Mortgage is right for you!
Jumbo Mortgages
Needing a larger loan? We offer a great adjustable rate option.
MyChoice Mortgages
Retirement will be here before you know it. Wouldn’t it be great if your mortgage retired with you?
Construction and Renovation Loans
If you are planning to build or renovate a home, we have an option to meet your construction and renovation needs.
Land Loans
A Land Loan allows you to purchase land for the future construction of your home.
Investment Property
Interested in purchasing an investment property? Check out our options based on down payment, terms and your investment needs.
First Time Home Buyer
Education, tips, and tools to prepare you for one of life's biggest decisions.
Special programs and discounts
For veterans, active service members, community heroes including teachers, police, medical personnel, firefighters and other emergency responders.
Compare renting vs. owning
Compare payments and costs with our easy-to-use calculators.
Contact a Mortgage Specialist to help you find the perfect mortgage for you
Visit our financial education partner, Zogo, and learn how to buy a house or get a mortgage.
Get an insurance quote from Oak Tree Insurance
Oak Tree Insurance Agency, located inside the Central One main office in Shrewsbury, provides members with competitive insurance options to meet your unique needs. They'll do the shopping for you, comparing rates and services across a number of insurance providers to ensure you get the best possible coverage for your uniques situation.
Looking to put no money down?
Central One offers 100% financing option on select mortgages
- Available on 10/5 adjustable and 12, 10, and 7 year fixed rate mortgages
- Must be primary residence (single family home/condo)
- Purchase only
- Must meet minimum credit score requirement
Other terms and conditions apply
Want to reduce the upfront cost?
Want to reduce the upfront cost of your home purchase?
- Shop with one of these local realtors
- Open a Premium Checking account to be eligible for reduced rates.
Manage your Mortgage
Apply for a mortgage on your own terms
Start your application today
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
All loan programs, rates, terms and conditions are subject to change
*Requirements for mortgage rate reduction : Must have a Premium Checking account. In addition to maintaining all other membership and Premium Checking account requirements, mortgage must be on primary residence purchase only. Loan approval and actual rate will be determined based on credit history, term, loan to value, and other factors.
**No Closing Cost program has a minimum loan amount of $125,000. Available on owner-occupied homes only. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
*** $500 savings for using one of the local realtors may not be combined with our no-closing-cost program or other Central One Federal Credit Union programs.MyChoice Mortgage Refinance Disclosure: First position mortgage only. Property must be owner-occupied. Rates listed include a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Appraisal is needed for any loan to value over 70% of assessed, or any loan amount over $400,000, max loan to value is 80% of appraised value. If you live outside of Worcester County, additional Appraisal and Title Search Fees may apply. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply.
Oak Tree Insurance Agency (Oak Tree Insurance Agency, LLC) is an affiliate of Central One Federal Credit Union. Business conducted with Oak Tree Insurance is separate and distinct from any business conducted with the Credit Union. Insurance products are not deposits of Central One and are not protected by the NCUA.
Darcy Petit
Rates
| ARM | Loan to Value | Rate | APR | Est. Payment | Details |
|---|---|---|---|---|---|
|
15/5 ARM* |
≤ 75% |
|
|
Calculate | More Information |
|
15/5 ARM* |
> 75% |
|
|
Calculate | More Information |
|
10/5 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
10/5 ARM |
> 75% |
|
|
Calculate | More Information |
|
5/1 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
5/1 ARM |
> 75% |
|
|
Calculate | More Information |
|
3/3 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
3/3 ARM |
> 75% |
|
|
Calculate | More Information |
|
1/1 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
1/1 ARM |
> 75% |
|
|
Calculate | More Information |
Rates effective as of: May 25, 2025
Rates are subject to change. APR-Annual Percentage Rate
Adjustable Rate Mortgage (ARM) Disclosure: Jumbo mortgages add 0.375% to the stated rate. Rates listed include 0.25% discount for Direct Deposit and Electronic Loan Payment when the payment is taken from a Central One account. Actual rate will be determined based on credit history, term, loan to value and other factors.
* 15/5 ARM available for first time home buyers only.
| Fixed Term | Points | Rate | APR | Est. Payment |
|---|---|---|---|---|
|
7 Year |
0 |
|
|
Calculate |
|
7 Year |
1 |
|
|
Calculate |
|
7 Year |
2 |
|
|
Calculate |
|
7 Year |
No Closing Costs** |
|
|
Calculate |
|
10 Year |
0 |
|
|
Calculate |
|
10 Year |
1 |
|
|
Calculate |
|
10 Year |
2 |
|
|
Calculate |
|
10 Year |
No Closing Costs** |
|
|
Calculate |
|
12 Year |
0 |
|
|
Calculate |
|
12 Year |
1 |
|
|
Calculate |
|
12 Year |
2 |
|
|
Calculate |
|
12 Year |
No Closing Costs** |
|
|
Calculate |
|
15 Year |
0 |
|
|
Calculate |
|
15 Year |
1 |
|
|
Calculate |
|
15 Year |
2 |
|
|
Calculate |
|
15 Year |
No Closing Costs** |
|
|
Calculate |
|
20 Year |
0 |
|
|
Calculate |
|
20 Year |
1 |
|
|
Calculate |
|
20 Year |
2 |
|
|
Calculate |
|
20 Year |
No Closing Costs** |
|
|
Calculate |
|
30 Year |
0 |
|
|
Calculate |
|
30 Year |
1 |
|
|
Calculate |
|
30 Year |
2 |
|
|
Calculate |
|
30 Year |
No Closing Costs** |
|
|
Calculate |
Rates effective as of: May 25, 2025
Rates are subject to change. APR-Annual Percentage Rate Fixed Rate Mortgage Disclosure: Published rates are based on purchase transactions with 25% down and a credit score of 740. Jumbo mortgages add 0.375% to the stated rate. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
| Term | Rate as low as | Estimated Payment |
|---|---|---|
|
7 years or less |
|
Calculate |
|
7 to 10 years |
|
Calculate |
|
10 to 12 years |
|
Calculate |
Rates effective as of: May 25, 2025
Rates are subject to change. APR: Annual Percentage Rat MyChoice Mortgage Refinance Disclosure: First position mortgage only. Property must be owner-occupied. Rates listed include a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Appraisal is needed for any loan to value over 70% of assessed, or any loan amount over $400,000, max loan to value is 80% of appraised value. If you live outside of Worcester County, additional Appraisal and Title Search Fees may apply. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
Adjustable Rate Mortgages
Central One offers you the option to lock in your rate for up to 120 days on our Adjustable Rate Mortgages at no cost to you. You’ll get the lowest published rate from the date you apply up to 7 days prior to closing (not to exceed 120 days). If rates decrease at all prior to closing, you receive the lower rate. Save an extra .25% on your adjustable mortgage rate by having a Premium Checking account when purchasing a primary residence.
Our adjustable rate mortgages offer you low initial rates to fit your situation – whether a first time home buyer or looking to stay in your home for less than 10 years. ARM’s lock in a fixed rate and then adjust based on the term you choose. Our popular 10/5 ARM gives you the comfort of a fixed rate for 10 years and then adjusts once every 5 years.
To limit your risk of rate fluctuation, Central One caps the interest rate change to 2% (up or down) at every review period and 5% (up or down) over the life of the mortgage.
ARM Rates
| ARM | Loan to Value | Rate | APR | Est. Payment | Details |
|---|---|---|---|---|---|
|
15/5 ARM* |
≤ 75% |
|
|
Calculate | More Information |
|
15/5 ARM* |
> 75% |
|
|
Calculate | More Information |
|
10/5 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
10/5 ARM |
> 75% |
|
|
Calculate | More Information |
|
5/1 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
5/1 ARM |
> 75% |
|
|
Calculate | More Information |
|
3/3 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
3/3 ARM |
> 75% |
|
|
Calculate | More Information |
|
1/1 ARM |
≤ 75% |
|
|
Calculate | More Information |
|
1/1 ARM |
> 75% |
|
|
Calculate | More Information |
Rates effective as of: May 25, 2025
Rates are subject to change. APR-Annual Percentage Rate
Adjustable Rate Mortgage (ARM) Disclosure: Jumbo mortgages add 0.375% to the stated rate. Rates listed include 0.25% discount for Direct Deposit and Electronic Loan Payment when the payment is taken from a Central One account. Actual rate will be determined based on credit history, term, loan to value and other factors.
* 15/5 ARM available for first time home buyers only.
Best for:
- First time home buyers
- Those planning to live in their new home for 10 years or less
- Those wanting a lower down payment and lower closing costs
Benefits of a 10/5 ARM
- Low down payment for qualified applicants
- Reduced closing costs compared to a fixed rate mortgage
- Often an APR much lower than a 30 year fixed rate mortgage
- No prepayment penalties
- Rate reduction for setting up automatic payments from your Central One checking account
- Flexible terms available
- Servicing from Central One for the life of the loan
Fixed Rate Mortgages
Are you looking for your forever home? Do you want peace of mind knowing that your mortgage rate will stay fixed for the life of the loan? Then a fixed rate mortgage is right for you! Take advantage of our 60 day no fee rate lock at the time of your application. Loan must close and be disbursed within 60 days.
Fixed Rates
| Fixed Term | Points | Rate | APR | Est. Payment |
|---|---|---|---|---|
|
7 Year |
0 |
|
|
Calculate |
|
7 Year |
1 |
|
|
Calculate |
|
7 Year |
2 |
|
|
Calculate |
|
7 Year |
No Closing Costs** |
|
|
Calculate |
|
10 Year |
0 |
|
|
Calculate |
|
10 Year |
1 |
|
|
Calculate |
|
10 Year |
2 |
|
|
Calculate |
|
10 Year |
No Closing Costs** |
|
|
Calculate |
|
12 Year |
0 |
|
|
Calculate |
|
12 Year |
1 |
|
|
Calculate |
|
12 Year |
2 |
|
|
Calculate |
|
12 Year |
No Closing Costs** |
|
|
Calculate |
|
15 Year |
0 |
|
|
Calculate |
|
15 Year |
1 |
|
|
Calculate |
|
15 Year |
2 |
|
|
Calculate |
|
15 Year |
No Closing Costs** |
|
|
Calculate |
|
20 Year |
0 |
|
|
Calculate |
|
20 Year |
1 |
|
|
Calculate |
|
20 Year |
2 |
|
|
Calculate |
|
20 Year |
No Closing Costs** |
|
|
Calculate |
|
30 Year |
0 |
|
|
Calculate |
|
30 Year |
1 |
|
|
Calculate |
|
30 Year |
2 |
|
|
Calculate |
|
30 Year |
No Closing Costs** |
|
|
Calculate |
Rates effective as of: May 25, 2025
Rates are subject to change. APR-Annual Percentage Rate Fixed Rate Mortgage Disclosure: Published rates are based on purchase transactions with 25% down and a credit score of 740. Jumbo mortgages add 0.375% to the stated rate. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change.
Best for:
- Forever homes
- Those planning to live in their home for 10 years or more
Benefits of a Fixed Rate Mortgage:
- Peace of mind knowing your rate will never go up
- Low down payments for qualified applicants
- No prepayment penalties
- Flexible terms available
- Servicing from Central One for the life of the loan
Jumbo Mortgages
Needing a larger loan? Central One has great Adjustable Rate option available to you.
MyChoice Mortgage Refi
Retirement will be here before you know it.
Wouldn’t it be great if your mortgage retired with you?
With a MyChoice Retirement Mortgage you can refinance your current mortgage at a fixed rate as low as 6.750% APR and set the maturity date to match your planned retirement — save now with a great rate and retire free from mortgage debt!
- You choose the maturity date, up to 144 months
- Reduce your current interest rate
- No closing costs
- No application fee
- No appraisal needed*
And, the mortgage is serviced locally and never sold.
Construction and Renovation Loans
If you are planning to build or renovate a home, Central One has an option to meet your construction and renovation needs.
- Monthly interest-only payments during the construction period
- Up to 6 months construction period to allow ample time for your project
- Loan terms of up to 30 years
- Construction loans automatically convert to an ARM (Adjustable Rate Mortgage) at the end of the construction period
- Only one loan closing, saving you closing costs and headaches
- Financing available for one or two-family owner-occupied homes, second homes or vacation homes
Land Loans
A Land Loan allows you to purchase land for the future construction of your home.
Features:
- Competitive rate
- Term of up to 15 years on a fixed rate
- Term of up to 20 year on an adjustable rate
- Down payment of 25% is required
Land has to qualify as a buildable lot which means it should meet town zoning requirements and if private sewage is necessary, it should have an approved septic design.
Investment Property
Interested in purchasing an investment property?
Central One has options for you based on down payment, terms and your investment needs.
If you are looking for a Commercial Investment Property check out our Commercial Lending.
Oak Tree Insurance Agency
Oak Tree Insurance Agency, located inside the Central One main office in Shrewsbury, provides members with competitive insurance options to meet your unique needs. They’ll do the shopping for you, comparing rates and services across a number of insurance providers to ensure you get the best possible coverage for your uniques situation.
Renter's Insurance
Your landlord’s policy only protect their assets, not yours. Renter’s insurance is an affordable way to keep you covered in case of disaster or theft.
Homeowner Insurance
Your home is the biggest investment you’ll ever make. With a homeowner policy from Oak Tree Insurance, you can protect that investment. We’ll compare rates and service from several companies to find the best savings.
Already have a homeowner policy? Schedule a no-cost, no-obligation policy review to find out how much we can save you!
Homeowners policies for:
- One to Four Family Homes
- Primary, Secondary or Seasonal Homes
- High Value Homes
- Condominium Unit Owners
- Dwelling Fire
- Mobile Home
- Flood Insurance
- Costal Properties
Test Modal
Modal Content
Ea rerum vel molestiae omnis molestias. Et ut officiis aliquam earum et cum deleniti. Rerum temporibus ex cumque doloribus voluptatem alias.
Open Account
Ice Cream Day Dates
All Ice Cream Day events are from 4:00 – 6:00 pm.
June 12th- Auburn Branch, 63 Southbridge Street
July 24th- Westborough Branch, 40 South Street
July 31st- Milford Branch, 82 Prospect Street
August 7th- Northborough Branch, 148 Main Street
August 28th- Shrewsbury Branch, 714 Main Street
August 15th- Worcester (Saint Vincent Hospital) Branch – We’ll be serving Goody’s Kettle Corn at the branch all day!
Food Truck Dates
All Food Truck Events are from 11:00 am – 1:00 pm.
July 12th- Westborough Branch, 40 South Street: Tacoborough Food Truck
August 9th- Shrewsbury Branch, 714 Main Street: Savage Wraps Food Truck
August 14th- Worcester (Saint Vincent Hospital) Branch – Garden Fresh sandwiches in-branch
August 23rd- Auburn Branch, 63 Southbridge Street: Bird’s Nest Panini Food Truck
September 6th- Northborough Branch, 148 Main Street: Tacoborough Food Truck
October 4th- Milford Branch, 82 Prospect Street (Route 140): Braised Food Truck
Adjustable Rate Mortgages
-
The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
Leaving Our Website
You are leaving our website and linking to an alternative website not operated by us. We do not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.