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Mortgage
Loan Rates
as of
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1st
Mortgage Loans
Home
Equity Fixed Rate 2nd
Mortgages - 20 Year
Home Equity Line of
Credit - 20 Year Term
Residential Lots - 10
or 15 Year Term |
1st
MORTGAGE
(Primary Residence, Vacation
Home, Rental Homes and Manufactured Housing)
Visit our Online First
Mortgage Center
for the latest rates and more! -
Click
here to apply
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HOME EQUITY
FIXED RATE 2nd MORTGAGE
-
20 Year Term
(Primary Residence or Vacation Home)
Example below, fees* and APR** based on $50,000
loan amount, with an 80% LTV. |
Mortgage
Term |
Interest Rate
(with .25% automatic
payment
discount) |
Points
(no origination or discount points |
CLTV (loan to value |
Fees* (There may
be additional closing costs) |
APR** (Includes
points, fees and interest) |
|
20 Year |
6.00% |
0% |
80%
|
0
|
6.00% |
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2ND FIXED RATE MORTGAGE
ADDITIONAL INFORMATION
**Annual Percentage Rate
- Credit Union will pay up to $400 of fees* and
closing costs. In the event the loan is paid
off within 24 months of origination, member will
be required to reimburse the Credit Union for all
fees and closing costs paid on member's behalf.
- Maximum loan amount is $500,000.
Minimum loan amount is $10,000.
- Maximum combined loan to value (CLTV) is 80% of
appraised value less existing 1st mortgage
balance, if any. Credit Union must be in a
2nd lien position and any 2nd mortgages, utility
liens or down-payment assistance grants must be
paid off with Home Equity funds at time of
disbursement.
- An online value is used for this loan, but in
the event that an online value is not available, a
standard appraisal will be required. Loan
amounts of $150,000 or higher will automatically require a
standard appraisal. An appraisal fee will be
collected from member in advance if required.
- Credit and other qualifications apply for
loan approval. |
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HOME
EQUITY LINE OF CREDIT
(HELOC)
-
20 Year Term
(Primary Residence or
Vacation Home)
Example below, fees* and APR** based on $50,000
credit limit, with both an 80% LTV and 100% LTV.
|
| Mortgage
Term |
Interest Rate
(with .25% automatic payment discount) |
Points
(no origination or discount points) |
CLTV
(combined loan to value) |
Fees*
(There may be additional closing costs) |
APR** (Includes points, fees and interest) |
20 Years
|
Prime
-1.00% |
0%
|
80%
|
0 |
Prime
-1.00%
(***4.50%APR floor in effect) |
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HOME
EQUITY LINE OF CREDIT ADDITIONAL INFORMATION
**APR - Annual Percentage Rate
The Prime
Rate (in The Wall Street Journal as of
12/17/08 was 3.25%). All
balances will accrue interest at a variable APR,
which can adjust on the first day of each month,
based upon Prime Rate published 10 days prior to
adjustment date in The Wall Street Journal.
The lowest APR could range from 1.00% below Prime
(includes .25% automatic payment discount) to
Prime +3.25% based on your CLTV and other factors.
*** Floor APR is 4.50%.
The maximum APR is 18%.
- Credit Union will pay up to $400 of fees* and
closing costs. In the event the loan is paid off within
24 months of origination, member will be required
to reimburse the Credit Union for all fees and closing costs
paid on member's behalf.
- Term consists of a 10 year draw period
with a 10 year repayment period.
- Maximum loan amount is $500,000.
Minimum loan amount is $10,000.
- Maximum combined loan to value (CLTV) is 80% of
appraised value less existing 1st
mortgage balance, if any. Credit Union must
be in a 2nd lien position and
any 2nd mortgages, utility
liens, down-payment assistance grants must be paid
off with Home Equity funds at time of
disbursement.
- An online value is used for this loan, but in
the event that an online value is not available, a
standard appraisal will be required. Loan
amounts of $150,000 or higher will automatically require a
standard appraisal. An appraisal fee will be
collected from member in advance if required.
- Credit and other qualifications apply for
loan approval. |
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RESIDENTIAL LOTS -
10 or 20 Year Term
(Vacant, unimproved land
for residential purposes)
Example below, fees* and APR** based on $100,000
loan amount, 80% LTV.
|
| Mortgage
Term |
Interest Rate
(with .25% automatic payment discount) |
Points
(no origination or discount points) |
CLTV
(combined loan to value) |
Fees*
(There may be additional closing costs) |
APR** (Includes points, fees and interest) |
15 Year
|
7.50% |
0% |
80% |
$57.00 |
7.512% |
|
10 Year |
7.25% |
0% |
80% |
$67.00 |
7.265% |
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RESIDENTIAL LOTS ADDITIONAL INFORMATION
- **APR - Annual Percentage Rate
- Maximum loan amount is
80% of appraised value; minimum loan amount is
$10,000.
- Property must be vacant, unimproved land for
residential use only. No building or structures
allowed on land at time of closing. Must be
located in the state of Florida.
- Escrow account is not required or available. An
optional Mortgage Savings club account may be set
up.
- Weekly, bi-weekly, semi-monthly or monthly
payment plans are available in conjunction with an
automatic payment such as payroll deduction,
direct deposit, and automatic transfer.
- Servicing of loan will be retained by Credit
Union and not transferred.
- Credit and other qualifications apply for loan
approval. |
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For More
Information
Call (800) 766-4328, ext. 1 [in Jacksonville, 359-6800, ext. 1] |
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