Loans

Real Estate Loans

First Mortgage Fixed Rates

Purchase or Refinance, No Points, No Application Fees!

  • For loans up to $400,000
  • LTV of less than 80%
  • 1-4 Family owner-occupied
  • 7, 10, 15, 20, 25 and 30 years terms.

Government Sponsored Real Estate Loans

  • FHA/FHA 203K: Purchases or Refinances available for members with lower Fico scores and higher LTV’s. Solid fixed rate loans. Also loan rehabilitation on new or current homes.
  • VA Mortgages: 30 Year Fixed Rates; 100% Financing; No PMI; Available on purchases and 90% LTV cash out.
  • Reverse Mortgages: A valuable financial tool for seniors 62 and older. This mortgage option gives them the opportunity to increase their monthly

Apply for a Mortgage

Home Equity Loans

Finance college tuition, home improvements, and other large expenses or consolidate your bills. Borrow from $20,000 up to $150,000 of appraised value of your home minus outstanding liens.

Vehicle Loans

New, Used, Motorcycle or Boat

Looking for a new or used auto, motorcycle or boat loan or to refinance existing loan you have? Choose Melrose First Federal Credit Union!

HOT TIP ~ Purchase GAP insurance to help close the gap between actual value and covered value.



Vehicle Loan Rates Apply Now

Personal Loans

Your signature is the only security required. Use personal loans for bill consolidation, appliances, vacations, car repairs, weddings, medical bills or anything you need.

Personal Loan Rates Apply Now

The Mass Save®
Residential HEAT Loan Program

Through the Mass Save Residential HEAT Loan Program, qualified customers can apply for a 0% loan for the installation of approved energy-efficient improvements in their homes or rental properties. Zero percent loans are available up to $15,000 with terms up to 5 years.

Learn more about The Mass Save® Residential HEAT Loan Program

Student Loan

get the money you need for school

ELSIE P. KINNEY MEMORIAL SCHOLARSHIP Since 1994

HOT TIP ~ Open an account for a college-bound senior and they become eligible for this scholarship!



Cap and Books
  • Two $500 unrestricted Scholarships
  • Graduating H.S. Seniors are eligible
  • Must be enrolled at a School of Higher Ed for the fall semester
  • Must be a Melrose First member or family member
  • Random drawing is held in May
  • Scholarship is awarded in June

Credit Card

See our website or visit MyCUcard.com. Additional rewards programs and points available from this partner.

Skip a Loan Payment - for in-house loans

Skip or postpone a loan payment and have extra cash for those unexpected times.

Skip a Loan Payment Application

HOT TIP ~ Skip A Loan can stretch your cash for an extra month!