NMLS# 384759. APR=Annual Percentage Rate. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval. Jumbo Loans have a minimum loan amount of $548,251. We conduct business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
1Loans up to 85% of a home’s value are available on a purchase or refinance with no cash back, subject to property type, a required minimum credit score and a minimum amount of monthly reserves (i.e., you must set aside enough money in reserve to make a specified number of monthly mortgage payments [principal, interest, taxes and insurance] after the loan closes).
85% Example: A 15-year, fixed-rate loan of $600,000 with an interest rate of 2.500%|2.683% APR will have 180 monthly principal and interest payments of $4,000.74. Payments shown do not include taxes and insurance. Actual payments will be higher. This is assuming a purchase transaction, 45-day lock, 85% LTV, 740 FICO, single family, owner occupied, 0.75 point paid, rates change daily.
Actual payment amount will vary based upon credit history, rates in effect at the time of consummation, LTV and other credit factors. A LTV ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase. The APR is subject to change at any time prior to consummation, and individual APRs may vary for loan purchases and loan refinances due to loan programs being offered, loan volume, or other factors.
2The 80-10-10 mortgage program is available on a single family, owner-occupied dwelling. To qualify, both the first mortgage and home equity line of credit (HELOC) must be financed with Credit Union 1. Private Mortgage Insurance (PMI) is not required. Normal closing costs apply. This loan is only available in IL, IN, and NV.
3The Annual Percentage Rate may vary after the account is opened. There is a $75 Annual Fee and a $100 Minimum Monthly Payment. 20-year term, 10-year draw. HELOC has a floor rate of 3.74% APR. The maximum rate that may be imposed is 18.00% APR. Closing costs vary by state and range from $250 - $750, available for properties in IL, IN, and NV only. Credit Union 1 will pay the closing fees associated with the setup of the loan. If HELOC is closed within 24 months from the open date, a fee reimbursement applies for costs associated to setup the loan.
4Mortgage application must be fully completed and submitted. All supporting documentation needed to process your mortgage application includes but is not limited to: income statements, asset statements, mortgage statement, letters of explanation etc.
5No Closing Cost offer is available for owner occupied primary residential purchases and refinances. Subject to approval. You still need to make any down payment and pay reserves applicable. CU1 will pay closing costs including but not limited to: lender's title insurance, title services, appraisal, tax service, credit report, flood certification, and recording fees. Paid closing costs do not include: prepaid interest, rate lock extension, rate relock, rate float down, homeowners insurance, initial escrow deposit, owner's title insurance, or city and/or county transfer tax. If the loan is paid off in 6 months of origination a prorated amount of closing costs will be added to the loan payoff amount.