First Mortgages

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Beach Municipal Offers First Mortgages

When it comes to buying a house – one of the biggest purchases you will ever make – you should expect more from your financial institution than just highly competitive rates. The type of loan and the repayment options you choose will likely determine how comfortably you live today and in the future. We partner with Credit Union Mortgage Association (CUMA) to help you on your journey.

Apply for a first mortgage

Why Is This The Best Loan For Me?

Beach Municipal FCU's Partnership with CUMA features:

  • A wider variety of mortgage loan products to fit your needs — Purchasing, Refinancing and Reverse.
  • Competitive interest rates and lower fees.
  • HomeAdvantage® Program — you can earn $1000s in cash rewards at closing when you use one of their agents to buy or sell a home.
  • Resources for first-time home buyers that guide you through the home buying process.
  • Superior service — CUMA is owned by credit unions, so you’ll receive the same level of service you have come to expect from Beach Municipal FCU!

Home Ownership Benefits

A first mortgage offers many potential benefits:

  • Monthly mortgage payments can sometimes be less than monthly rent.
  • With each monthly payment, you're building equity.
  • That equity can be converted into cash with a Second Mortgage or HELOC. 
  • Historically, home values increase over time.
  • You may qualify for a tax deduction.
  • The freedom to create a space you can truly call your own!

What is a First Mortgage?

A First Mortgage is a loan taken out by a borrower to purchase real estate. When someone buys a home or other property, the First Mortgage is the primary loan secured against the property. It takes precedence over any subsequent mortgages, such as a Second Mortgage or HELOC. In the event of default and foreclosure, the First Mortgage holder has the primary claim on the property.

It is important to note that a “first mortgage” does not refer only to the loan a borrower takes out on their first home. Rather, it is the original mortgage taken out on any given home, be that their first home or fifth.

Today's First Mortgage Rates

First Mortgage rates are subject to change daily, so once you find a rate that is an ideal fit for your budget, "lock" it in as soon as possible. That means your rate won't change between when you get the rate lock and closing, as long as you close within the specified time frame and there are no changes to your application.

See today's First Mortgage rates or call 877.349.5086 to learn more.  

Are you interested in a Reverse Mortgage?

A Reverse Mortgage is a unique loan that allows you to convert a portion of the equity in your home into tax-free* funds, giving you greater financial flexibility and security for the future.

A Reverse Mortgage can be used to:

  • Supplement retirement income.
  • Home repairs or modifications.
  • Pay for medical or long-term costs.
  • Delay collecting Social Security, for a larger monthly benefit.
  • Establish a line of credit that you can tap into as needed.
  • Purchase a new home.

Depending on your qualifications and eligibility, you can receive your funds in a lump-sum distribution, a line of credit, monthly or term disbursements or any combination of these payment options.

To learn more about how a Reverse Mortgage could benefit you, please contact our Reverse Mortgage Specialist.

Homeowners Insurance

You know you need homeowners insurance, but the process is often complex. Our partners at TruStage® make it simple with help from Liberty Mutual. Plus, you could save hundreds on home insurance!*

Your home is your biggest investment, so make sure it's covered inside and out. Connect with an agent to learn about coverage and discounts.


*Savings validated by survey of participating MA new customers who switched to a Liberty Mutual policy between 10/2021 and 09/2022 with self-reported comparable coverage from their prior carrier. Savings may vary.

TruStage is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Securities distributed by CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer, 2000 Heritage Way, Waverly, IA, 50677. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All guarantees are based on the claims paying ability of the underwriting company. Insurance products are issued by CMFG Life Insurance Company, MEMBERS Life Insurance Company, CUMIS Insurance Society Inc., CUMIS Specialty Insurance Society Inc., American Memorial Life Insurance Company, and Union Security Insurance Company.