No Closing Cost Mortgage

'No' can be a good thing

Don't settle for your mortgage. Get the terms you deserve from Visions.



Rate Adjustment Caps

With the No Closing Cost Mortgage from Visions, you get a low interest rate that stays the same for the first 10 years. And no closing costs* mean you save thousands right from the start.


You purchase a home for personal stability and financial equity. It's a big investment, and one of the smartest you can make in your life.

Visions understands the mortgage you commit to is just as important as the home you choose. There's the conventional fixed-rate mortgage that many consider, but did you know there are more options available than ever before? Options like the No Closing Cost Mortgage.

This 15-, 20-, 25- or 30-year loan starts with a low interest rate for a set term of 10 years and then adjusts in the 11th year and every 12 months for the remaining term.

family with house

That adjustment in the 11th and subsequent years is capped at 2% above the market rate at the time, reducing the risk of monthly payment shock. This comes with a lifetime cap of 5%, giving you assurance that your rates – and bill – remain reasonable and predictable throughout the loan.

Why choose an adjustable rate mortgage? Not only do you get a lower interest rate to start, there's also the possibility it could be even less at the end of the first 10 years. If not, you're still protected by our caps.

Adjustable rate mortgages aren’t for everyone, though. You can trust our team to walk you through all the terms and conditions in an honest, easy-to-understand way. In fact, we promise to help get you the mortgage product that's right for you.



Qualified Property - One- to four-family residential owner-occupied purchase money, refinances or construction.

Max Loan to Value

Purchase – one-family 95% of sale price (two-family 85% of sale price; three- to four-family 75% of sale price).

Refinance – single family up to 80% of appraised value as "Cash Out."

  • One-family – 90% of appraised value for "Limited Cash Out."
  • Two- to four-family – up to 75% of appraised value as "Cash Out".
  • Two-family – 85% of appraised value for "Limited Cash Out."
  • Three- and four-family – 75% of appraised value for "Limited Cash Out."
  • Term – 15, 20, 25, or 30 Years

Escrow Account – Required when loan-to-value ratio is 80.01% or higher.
If less than 80% loan-to-value ratio, is based on creditworthiness.
PMI required when loan-to-value ratio is 80.01% or higher.

Payment Options – Bi-weekly or Monthly

Interest Rate Change – Rate remains constant for the first 10 years, then will change every subsequent year.

Annual Cap – Rate cannot go up or down more than 2%.

Floor Rate – Rate can never go below 3%.

Proof of home owner's insurance is required.

Visions will not subordinate or agree to the assignment of any oil/gas/mineral rights lease to a third party.

The No Closing Cost Mortgage is exclusive to Visions members. To join, simply follow the instruction below. If you're not yet a member, see if you qualify and apply here.

The Fine Print

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