Second Mortgage Loans:
Apply A closed-end loan with a low fixed rate that is secured by a second
mortgage
deed of trust on your primary residence. We will lend up to 100% of
your home's value less the balance of your
first mortgage MINUS the pay-off of a
second mortgage (if applicable) on your single-family residence.
For townhouses
and condos, we will lend 90% of the value.
Home Equity Credit Line: Apply
A open ended loan with a low variable rate. We will lend up to 95% of your
home's value less the balance of your first mortgage on your single-family
residence. For townhouses and
condos, we will lend 90% of the appraisal value.
Click
here for important information regarding our home equity credit line.
Quick Equity
Loans:
Apply A fixed rate, closed end loan using your primary residence as
collateral;
no appraisal on your home is required. The loan to value
ratio is 95% based on your most recent city tax
assessment.
Townhouses and condominiums are not eligible for this loan.
First Mortgage Loans:
Please read below and then click here for First Mortgage information,
rates, and how to apply.
The A+ Mortgage Program for teachers
This program is only available for employees of an accredited or state
recognized private or public school:
a certified teacher or administrator in an education agency; or an
employee of a post secondary level
educational institution. Call 463-3650 option 6, then option 1 to speak to an A+
Mortgage Program specialist,
or call toll free 1-888-578-4747 or
email.
Benefits & Features:
Designed to promote community home ownership
Increased buying power - up to 30%
Low or No down payment requirements
Lower asset requirements
Lower private mortgage insurance expense
Lower monthly payments with terms up to 40 years
Relaxed reserve requirements
Flexible credit terms, for borrowers with less than perfect credit
High "seller concessions" allowed
Broken ARM? Get the facts and a healthy mortgage at your
Credit Union!
Do you have an adjustable rate mortgage (ARM)? Not sure?
You’re not alone. According to a March 2007 Bankrate.com survey, 34% of
homeowners don’t know what type of mortgage they have or many of its details.
And many homeowners with ARMs don’t know how often and by how much their rate
can adjust, or its lifetime rate increase limit. Attracted by low initial
monthly payments, many homeowners unfortunately overlooked the long-term results
of their decision.
Call our loan department or our mortgage service provider,
Member Options, directly at (888) 578-4747 to start your mortgage review today!
New 1st
Mortgage- 10 Year Fixed Rate:
Apply If
you already own your home and would like to refinance
your mortgage we will lend up to 60% of the homes value (tax assessment or
Freddie Mac's Home Value Explorer).
The term of the loan is limited to 10 years. (Owner occupied only). Rates
will be set weekly. For more information,
call 463-3650 ext 319, or stop in and speak to a Loan Counselor.
Rates - Please visit our
rates page.
