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The Credit Union offers a variety of first mortgage loans. Interest
rates are low and our closing costs are very low, too. With the
half percent origination fee for loans $100,000 or greater, you
will save about 40% over the other lenders fees. Loan terms range
from 5 to 30 years. The Credit Union can assist you with the purchase
of your home or refinance your existing loans.
The Credit Union has a loan program to purchase a home with as little
as 3% down. The 3% can be gifted funds from a family member. The
maximum loan term is 30 years and the maximum loan to value is 97%.
With competitive interest rates and low closing costs, these are
good loans for people who have a good credit history and a small
down payment.
Fixed period ARM loans are popular. The fixed interest rate period
range from 3 years to 10 years, then the rate is adjustable for
the remainder of the loan term. If someone plans to be in their
home for a certain period of time and then sell their home, they
would be able to have a lower rate during the fixed period than
the conventional fixed loan.
The Credit Union also offers the No-Fee Quick Equibuilder. These
are smaller second mortgage and home equity loans. The maximum term
is 10 years and the maximum loan to value is 90%. The loan amount
can range from a minimum of $10,000 to a maximum of $25,000. These
loans are great for home improvement, the purchase of an auto, educational
expenses, debt consolidation, etc.
If you are interested in refinancing to a lower interest rate
or consolidating debts, please give us a call. We can show you the
potential savings in interest and monthly payments. We would be
glad to talk with you to see if it is to your advantage to refinance.
If you are interested in buying a home, please call us first. The
Credit Union can assist in getting you pre-qualified for your maximum
purchasing power for your new home. There is no obligation to you
for a pre-qualification. Also, you can use our web calculators to
do a pre-qualification at Home
Calculators.
For more information about mortgage loans visit our Home
Finance Center on our website, or Call 435-713-1800.
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