Community Heroes and Community Experts Programs
Latest rates
All rates10/5 Adjustable
as low as30 year fixed
as low asVA Mortgage
as low as
Community Heroes Program
Our Community Heroes Program proudly honors and supports those who serve Law Enforcement, Firefighters, Educators, Medical professors
Community Experts Program
Our Community Experts Program offers mortgage discounts to local professionals, including CPAs, architects, Ph.Ds., and actuaries.
Interested in a FHA loan?
Call us to see if you qualify and for more information.
Veteran and Active Military Programs
VA home loans offer veterans and service members no down payment, low interest rates, and no PMI, making homeownership more accessible and affordable.
Visit the Veteran Benefits Banking Program for more information.
Local heroes deserve local homes
We can help you qualify
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**$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. Terms and conditions apply. Ask for details.
Rates
| ARM | Loan to Value | Rate | APR | Est. Payment | Details |
|---|---|---|---|---|---|
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15/5 ARM* |
≤ 75% |
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Calculate | More Information |
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15/5 ARM* |
> 75% |
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Calculate | More Information |
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10/5 ARM |
≤ 75% |
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Calculate | More Information |
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10/5 ARM |
> 75% |
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Calculate | More Information |
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5/1 ARM |
≤ 75% |
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Calculate | More Information |
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5/1 ARM |
> 75% |
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3/3 ARM |
≤ 75% |
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3/3 ARM |
> 75% |
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1/1 ARM |
≤ 75% |
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1/1 ARM |
> 75% |
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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 |
|---|---|---|---|---|
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7 Year |
0 |
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7 Year |
1 |
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7 Year |
2 |
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7 Year |
No Closing Costs** |
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10 Year |
0 |
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10 Year |
1 |
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10 Year |
2 |
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10 Year |
No Closing Costs** |
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12 Year |
0 |
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12 Year |
1 |
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12 Year |
2 |
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12 Year |
No Closing Costs** |
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15 Year |
0 |
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15 Year |
1 |
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15 Year |
2 |
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15 Year |
No Closing Costs** |
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20 Year |
0 |
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20 Year |
1 |
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20 Year |
2 |
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20 Year |
No Closing Costs** |
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30 Year |
0 |
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30 Year |
1 |
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30 Year |
2 |
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30 Year |
No Closing Costs** |
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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.
| Loan Type | Rate | APR | Estimated Payment |
|---|---|---|---|
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30 Year Fixed No Points |
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Rates effective as of: May 25, 2025
Rates are subject to change. APR=Annual Percentage Rate
| Term | Rate as low as | Estimated Payment |
|---|---|---|
|
7 years or less |
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7 to 10 years |
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10 to 12 years |
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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.
Community Heroes Program
Benefits:
- As little as 1% down payment, gifts and grants allowed
- Lower PMI fees
- Community heroes that are first time home buyers, may be eligible for additional discounts
In order to qualify you must meet the following qualifications:
- 740+ FICO Score
- Purchase a home with one of our Adjustable Rate Mortgages
- Detached or attached-single family home or condominium
- Primary residence, owner-occupied property
Community Experts Program Serves
Benefits:
- 0% down payment, gifts and grants allowed
- Lower PMI fees
In order to qualify, you must meet the following qualifications:
- 740+ FICO Score
- Purchase a home with one of our Adjustable Rate Mortgages
- Detached or attached-single family home or condominium
- Primary residence, owner-occupied property
Law Enforcement
Law Enforcement (Police Officer, Corrections Officer, State Trooper, County Sheriff, Border Patrol)
Firefighters
Firefighters (Paid and Volunteer)
Educators
Educators (Private and Public)
Medical
Medical (Nurses, Home Health Providers and Agencies, Assisted Living Facilities, Skilled Nursing Facilities, Inpatient/Outpatient Clinics and Centers, CNA’s, EMT, Paramedics)
Veteran and Active Military Programs
Features and benefits:
- 0% down payment
- No PMI required
- No prepayment penalty
- Valid for refinancing
- If veteran benefits have been previously used, remaining benefits can be applied
You may be eligible for a 15 or 30 year Fixed Rate VA* Home Loan if:
- you have served 90 consecutive days of active service during wartime, OR
- you have served 181 days of active service during peacetime, OR
- you have more than 6 years of service in the National Guard or Reserves, OR
- you are the spouse of a service member who has died in the line of duty or as a result of a service-related disability
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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
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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.
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