At VAPR Federal Credit Union, we're committed to helping you achieve the dream of homeownership
Our mortgage loans offer flexible terms, competitive rates, and a simple, transparent application process — from conforming and non-conforming mortgages to land loans and home equity loans.
As part of our commitment to all our members, we participate in government programs that can help ease the buying process for eligible buyers. Some of these programs include the Homebuyer Assistance Program, Pronto Pa' Tu Casa, and Vivienda Joven, initiatives designed to provide extra support to those looking to purchase property in Puerto Rico.
Whether you're buying your first home, refinancing your current mortgage, or looking for a second property, our team of experts is here to guide you every step of the way. Call and speak with our mortgage officers today, and discover how we can turn your goal of homeownership into an accessible, manageable reality.
Subject to credit approval, certain restrictions apply.
Non-Conforming Insured Mortgage Loans
We offer non-conforming mortgage loans insured for the secondary market, for both first and second properties, as well as refinancing of your primary residence.
For purchases, we finance up to 85% LTV for a primary residence and up to 80% for a second property. If you're looking to refinance — whether for home improvements, debt consolidation, or other purposes — we can finance up to 85% of the appraised value of your primary residence.
Closing costs and interest rates will depend on the market at the time of the transaction. At VAPR, we finance from $15,000.00 up to $500,000.00.*
*Loans under $15,000.00 require approval from the loan evaluation committee. Purchases of a primary residence, purchase of a second property, and refinancing financed as conventional, FHA, and VA loans must meet all secondary market requirements for mortgage loans.
Personal Loans with Mortgage Collateral
Finance up to $60,000.00 with mortgage collateral, covering up to 80% of your primary residence's appraised value, or up to $70,000.00 on a second property. This applies to properties with no liens. If your primary residence has liens, we finance 80% of the appraised value minus the outstanding balance of the existing mortgage.
Land Purchase and Refinancing
At VAPR, we want to help you own property wherever you choose. That's why we offer loans for land purchase and refinancing, available exclusively for permanent construction under first mortgages. Both purchase and refinancing will not exceed 70% of the appraised value of the undeveloped land, as determined by an appraiser designated by the Credit Union.
Ready to apply for your loan?
The process is fast, and you can do it from wherever you are.