Mortgage loans are repayable in equal monthly installments over the selected term of the loan.  Members are encouraged to make additional Mortgage Principal Payments to further build home equity and reduce the mortgage repayment time.  There is no pre-payment penalty for making additional mortgage payments.  Mortgage rates are subject to change without notice.  Minimum loan amount is $15,000.00.  Listed rates and terms are for qualified members who borrow up to 80% of their current home value.  There is a non-refundable $100.00 application fee and a $350.00 appraisal fee.  Homeowners insurance is required. All mortgage rates are subject to final underwriting by United Credit Union. An escrow account at United Credit Union is required for property insurance and taxes.

rate info

Current Rates in effect

FIXED RATE MORTGAGES
Loan Type
Rate
Amortization
Maximum Amount
Appraisal &
Application Fee

(non-refundable)
15%
Down
20%
Down
25%
Down
25%
Down
Term
Schedule
Single
Family
N/A
4.90%
4.80%
10 yrs
10 yrs
$750,000.00
$450.00
N/A
4.95%
4.90%
15 yrs
15 yrs
N/A
5.00%
4.95%
20 yrs
20 yrs
N/A
5.10%
5.00%
30 yrs
30 yrs
Multiple
Units
(2 - 4)
6.75%
15 yrs
15 yrs
$750,000.00
 $100 Application Fee
$350 Appraisal per Unit
7.25%
30 yrs
30 yrs

 

FIXED RATE BALLOON MORTGAGES

Loan Type
Rate
Amortization
Maximum Amount

Appraisal &
Application Fee

(non-refundable)

15%
Down
20%
Down
25%
Down
Term
Schedule
Single Family
N/A
5.10%
4.90%
3 yrs
15/30 yrs
$750,000.00
$450.00
N/A
5.20%
5.00%
5 yrs
N/A
5.30%
5.10%
7yrs

 

ADJUSTABLE RATE MORTGAGES
Loan Type
Rate
Amortization
Schedule
1st
Adj
Annual
Cap
Lifetime
Cap
Maximum
Amount
Appraisal &
Application Fee

(non-refundable)
10%
Down
15%
Down
20%
Down
1/1 Year
N/A
N/A
N/A
15/30 yrs
N/A
N/A
N/A
$750,000.00
$450.00
3/1 Year
N/A
N/A
N/A
N/A
N/A
N/A
5/1 Year
N/A
N/A
N/A
N/A
N/A
N/A
7/1 Year
N/A
N/A
N/A
N/A
N/A
N/A

 

HOME EQUITY MORTGAGES
Loan Type
Single Family
Rate Risk Related
Term
Maximum
Amount
Appraisal &
Application Fee

(non-refundable)

Home Equity
Line of Credit

N/A
Home Equity/
Home Improvement
Prime Plus 1/2% (Floor of 6.50%)
5 yrs
$100,000.00
$450.00
Fixed Rate
80% of Appraised Value,
Less Mortgage Balance
Loan Type
Multiple Unit (2–4)
Rate Risk Related
Term
Maximum
Amount
Appraisal &
Application Fee

(non-refundable)
Home Equity
Line of Credit
N/A

 

Home Equity/
Home Improvement
7.50 %
5 yrs
$75,000.00
$100
Application Fee
$350
Appraisal
per Unit
Fixed Rate
75% of Appraised Value,
Less Mortgage Balance

 


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