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 Mortgage Loans |
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We offer a variety of mortgage loans to meet your
needs!
If you are in the market
for a new home, get pre-approved BEFORE you start shopping.
It will let you know what size home you can afford and will
provide your realtor assistance when finding a home to meet
your needs.
We can refinance your existing home loan
and provide options you may not presently have. Our members
have the option of adding to their mortgage throughout the
years without having to pay refinancing costs. This is a
tremendous savings and our members love this option. Ask us
more about our modification agreements if you decide to
refinance with us.
We are able to approve your loan
within a couple of hours after you have submitted the
required documents. We will explain the process to you and
show you all the costs so you may make a good decision. This
is a FREE service so there is no reason not to stop by one
of our offices to see if you qualify for a home loan.
We are everyday folks and understand this is a
complicated process so we will make it as simple and easy as
possible. If there is something you don't understand, ask
us! We realize buying a house may only occur once or twice
in your lifetime. You are probably hearing terms that are
unfamiliar--ARMS, escrow, variable rates, warranty deed,
deed of trust, etc. Hey, we know everyone needs a little
help with all the terms. That is why we are here for YOU!
We will finance loans for....
●
Owner occupied single family dwellings
● Owner occupied duplexes
● Owner's second homes or vacation homes
● Rental property for single family dwellings
● Rental property for apartments up to 4 units
● Small commercial property (up to $100,000)
● Mobile homes placed on your own property
● Modular homes
● Undeveloped land
● Second mortgages on your primary dwelling
Loan Information
● We
will loan up to 85% of the appraised value of the home
● First-time homebuyers
loan--100% of the sales price up to $150,000
● An escrow account will be maintained at the credit
union to pay your homeowner's
insurance and your property taxes
● We will NEVER sell your loan to another institution.
You will always make your payments at the credit union and
deal with people you know for all your mortgage needs
● We may loan on property within a 100 mile radius of
any of our locations
● Private Mortgage Insurance (PMI) is not required
● You may select your payment frequency--weekly,
bi-weekly, semi-monthly, or monthly
● We can usually close your loan within a couple of
weeks...no drawn out process at our credit union
Your Responsibility
● A
completed residential loan application
● Verification of your income (bring a current check
stub)
●
A copy of your warranty deed
● A paid appraisal for your property
● Any lien information currently against your property
(do you currently owe anyone for your home?)
● Proof of homeowner's insurance
Below you will find a table showing how much money you could
save by moving your higher interest rate home loan to Northeast
Community Credit Union. A small rate change can mean tens of
thousands of dollars over the course of your loan, take a look.
| Amount Financed |
Old Rate |
New Rate |
Total Savings |
| $100,000 |
6.25% |
5.75% |
$11,426.40 |
| $100,000 |
6.50% |
5.75% |
$17,236.80 |
| $100,000 |
7.00% |
5.75% |
$29,041.20 |
| $100,000 |
7.50% |
5.75% |
$41,076.00 |
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Equal Housing Lender - Member NCUA