Langley Federal Credit Union is now the solution for all new loan applications. When applying for a loan online or over the phone, you will be redirected to the Langley loan team. As part of this process, Langley will work with you to establish a new savings account to finalize the loan application requirement. 

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Looking for a perfect 10-year first mortgage, but not sure which is the best for you?

Our 10 year Freedom First Mortgage solution may be the perfect fit for you! Read more about the 10-year mortgage below, and learn all the benefits and features of refinancing your 30 year home loan into a 10 year.  Call our Home Loan experts with your questions. We understand each home loan is as unique as you are, and will make your experience easy, fast and hassle-free!


Should You Consider a Freedom 10-Year Fixed-Rate Mortgage?

How long will it take to pay off your mortgage? This is a vital question to ask yourself before you enter a mortgage agreement with any lender. The term of a mortgage will have a direct impact on the total amount of the loan you eventually have to pay back, as well as the size of your monthly mortgage payments.

Longer loan terms — such as the standard 30-year — generally offer lower monthly payments and higher interest rates than the shorter 15-year loan term. Those interest rates add up over the life of the loan, increasing the total amount you owe to your lender.

While most people select 15-year or 30-year mortgages, there is also the option for a 10-year fixed-rate mortgage. These shorter mortgages offer a variety of benefits for homeowners, as well as some drawbacks. Here’s what you need to know about 10-year fixed-rate mortgages.

What is a 10-year fixed-rate mortgage?

A 10-year fixed-rate mortgage is a loan that maintains the same interest rate and monthly payments over the course of 10 years. Often, 10-year fixed-rate mortgages are offered with lower lifetime interest rates. However, because the loan term is shorter, homebuyers who choose a fixed-rate mortgage should also expect to make higher payments each month.

Advantages of a 10-year fixed-rate mortgage

There are many benefits of choosing a 10-year fixed-rate mortgage over longer options.

Disadvantages of the 10-year fixed mortgage

Just as there are advantages to signing up for a 10-year fixed-rate mortgage, there are also some disadvantages to keep in mind.

For whom does a 10-year fixed-rate mortgage work best?

Before deciding on the term of your mortgage, be sure to take into account the advantages and disadvantages of selecting a 10-year fixed-term mortgage for you. The 10-year fixed-rate mortgage may be a sound option if you:


A 10-year fixed-rate mortgage presents a range of pros and cons to homebuyers and those looking to refinance their homes. Weigh your options seriously and take into account how steady your income is and whether you’ll be able to keep up with high mortgage payments. Think about your financial goals, whether that’s building equity quickly or paying down other high-income debt.

This mortgage offers benefits from both loan programs, including lower interest rates than a 30-year loan while still shortening the life of the loan by making somewhat higher payments that may be easier for you to maintain over the years.

If you think a Freedom First Mortgage is for you or you would like more information on any of our mortgage options, contact our mortgage experts.


Learn more with our Home Loan Calculators

What if I need a loan not listed?

Call one of our Local Lending Experts, today!

How do I apply for a loan, and what can I expect?

If you are already a VBSFCU member with a savings account, you can apply online or call us using one of the phone numbers above.

Visit our “What to Expect” page to learn about our loan application process.

I would like to apply for a loan, how do I become a member?

Welcome! We are excited to meet you! Please visit our Who Can Join page to check if you qualify for membership. If you already know you qualify, visit the Open an Account page to learn what you need to bring to become a member.

What does VBSFCU do for our local community?

Learn about our Do Good programs and how we give back locally.