Home Loans

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Buying a Home?

 

Get the lowest rate on a fixed loan!

Looking to buy a new home? Want to refinance your existing loan? The fixed-rate mortgage may be the choice for you. Itís your best security against riding mortgage rates and higher payments. If you know you donít plan on moving or refinancing in the next 7 years or so, the fixed-rate mortgage may be your best choice.

 

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How the fixed mortgage works:

  • Your monthly payment is based on your interest rate, your principal loan amount, and your actual interest amortized over 10, 15, or 30 years.
  • Your actual mortgage payment will vary based on your situation and the current interest rate when you apply.
  • We allow pre-payment which allows you to refinance your mortgage at any time without paying pre-payment penalties.

 

Why a fixed mortgage is for you:

  • Rates on fixed-rate mortgages are currently at or near historic lows.
  • You can put as little as 5% down on a fixed-rate mortgage.
  • A fixed-rate mortgage is a great way to refinance up to 95% of your home value.
  • If you arenít moving or refinancing in the next few years, a fixed rate mortgage may be your vest choice.
  • A jumbo loan option is also available.
  • 10,15, and 30 year fixed rates are available.

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   More Details

   Mortgage Calculators

   Mortgage Checklist

Is it the Right Time for me to Refinance?

 

Get the lowest rate on a fixed loan!

As life changes, so do your home needs. Refinancing to a mortgage the fits your current needs is an important step toward achieving your financial goals.

 

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Itís time to start thinking about refinancing if youíre ready to:

  • Lower your monthly payment Ė with mortgage rates at historic low, chances are your current rate is higher that todayís refinance rates.
  • Consolidate your debt Ė get cash to pay off high-interest debt and make one low monthly payment.
  • Get cash from your home Ė if youíve built equity in your home, why not put is to good use with a cash-out equity loan?
  • Keep your payment from rising Ė if youíre in an adjustable-rate mortgage that is reaching the end of its fixed period, your mortgage payment could increase significantly.

 

Defining your financial goals is the key to understanding if itís the right time for you to refinance. With mortgage rates this low, chances are most people could benefit from a refinance. If any of the above scenarios fit your needs, letís get started!

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   More Details

   Mortgage Calculators

   Mortgage Checklist

FHA Loans

 

Get the lowest rate on a fixed loan!

If youíre looking to buy a new home, the FHA Loan is for you. Itís flexible credit guidelines, low rates and security of a government-insured loan make it one of our most popular products.

 

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How FHA loan works:

  • FHA Loans are available as 15- and 30- year fixed-rate loan, and a 5-year adjustable-rate mortgage(ARM).
  • FHA Loans are created by Federal Housing Administration
  • Credit scores as low as 640 can qualify for a FHA loan
  • FHA streamline refinance is available with no appraisal

 

Why the FHA Loan is for you:

  • Are you purchasing a home and want a low down payment?
  • Do you want a fast approval?
  • Would you like the lower rates available?
  • Do you have a lower credit score?

   Apply Now

   More Details

   Mortgage Calculators

   Mortgage Checklist

 
  

 

Home Equity Line of Credit


Percent of Equity/td> Variable Rate Initial Rate  
80% Prime +0% 2.75%* thru 07/01/2014
90% Prime +1% 3.25%* thru 07/01/2014

Introductory rate guaranteed through January 1st, 2014. $3,000 minimum advance required. Rate adjusts semi-annually after introductory period. 80%, 90% & 100% loans have a minimum rate of 5.5%. Other terms apply. Contact us for details. 20 year term. 10 year draw period. Length of ownership restrictions may apply. Effective 11/1/2011 *Annual Percentage Rate.

Fixed Rate Second Mortgage Loans


80% 5.00%*
90% 5.75%*

up to 20 year term, one time draw, other terms apply. *Annual Percentage Rate.


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Contact us at Mortgages@ItsMyCU.org