Buying a new home should be a pleasant experience.
At Yakima Federal Savings and Loan, we make it easier to buy or build your new home, or refinance your existing home. We’ve been lending money to local families for homes since 1905. The loans start here, and they stay here. When you are dealing with something as important as a loan to buy or build your new home, it’s nice to know you can speak face-to-face with a friendly and knowledgeable home loan specialist at one of our 10 convenient branch offices. Loan approval and all details are handled locally. Your payments are processed locally, and if you call us about your loan you won’t get a recorded message or have your call referred to a loan service office in another city. With loan terms to suit your specific needs, we think you’ll agree that Yakima Federal is Central Washington’s preferred financial institution.
- FIXED RATE MORTGAGES have a fixed interest rate for the entire life of the loan. It’s easy to budget for this type of loan because your principle and interest payment will always be the same.
- INTEREST-ONLY MORTGAGES have a fixed interest rate for the entire life of the loan. With an interest-only mortgage loan, you pay only the interest on the mortgage in monthly payments for the first five years. Beginning with the first payment in the sixth year, the payment will change based upon the loan balance and the initial fixed interest rate for the remaining term of the loan.
- GUARANTEED RURAL HOUSING LOANS – More rural families and individuals may be eligible to become homeowners with the help of a U.S. Department of Agriculture/Rural Development guaranteed loan. Through this program more families can qualify for a mortgage with little or no down payment.
Use our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage insurance are also not included in the results, but may be added to your monthly payments.