The Credit union will pay all closing costs associated with this loan.*
If your payment is more than 10 days late we may charge you 5.0% of the payment or $10.00, whichever is greater.
You promise to pay all costs of collecting the amount you owe under this agreement.
*If a full appraisal is required by the credit union, the borrower will be responsible for this fee, not to exceed $450.00. The no cost program is only available one time per member and not available when refinancing an existing credit union loan.
APR=Annual Percentage Rate. This is a fixed rate available to qualified borrowers on a 10- or 15-year term. Minimum 70% Loan-to-Value required. Minimum financing of $50,000. Mortgage loan proceeds may not be used to refinance existing Members 1st Credit Union loans. No early payoff penalties. The property must be a single family residence that is owner occupied (no rentals or investment properties). The Credit Union will not lend on mobile homes, manufactured homes, condos, or duplexes.
Representative Examples: A 10 year (120 month) 1st Mortgage of $100,000 at 3.49% APR, would require 119 payments at $988.57 with one final payment of $987.34.
A 15 year (180 month) 1st Mortgage of $100,000 at 3.75% APR, would require 119 payments at $727.40 with one final payment of $726.55.