*APR = Annual Percentage Rate and subject to change without notice.Adjustable Rate Mortgage (ARM) is fixed for five years, followed by a rate tied to the weekly average yield on US Treasury Securities adjusted to a constant maturity of 1 year as made available by the Federal Reserve Statistical Release H.15. After five years rate can change annually for remainder of term. If interest rate increases, monthly payment increases. If rate decreases, payment decreases. The most the rate can change each adjustment is 2.0%. Rate will not increase more than 6% above initial rate. A $100,000 loan with no rate change requires 360 payments of $421.14 at an interest rate of 2.99%. Actual payment will be higher, does not include taxes or required homeowners insurance. Membership eligibility required.
Why A mortgage Pre-Approval?
Buying a home is an exciting prospect and getting in the home of your dreams is simplified with a mortgage pre-approval. Why is a No Cost mortgage pre-approval is important:
- Your offer to purchase holds more weight with real estate agents and home sellers, who see offers from buyers with pre-approvals as more serious.
- You will shop confidently knowing exactly how much home you can afford.
- Address any lending hurdles in your credit history early in the home buying process.
- Get in your dream home faster once your offer to purchase is accepted since some of the application process has already been completed.
There is No Cost for a mortgage pre-approval, so if you are thinking of – or in the process of buying a home, contact one of our professional mortgage lenders today! 920-233-9096
As a member of your Credit Union getting a mortgage for that new home can be easy. You can take advantage of our competitive interest rates, low closing costs and excellent member service. We offer a number of different mortgage loans with terms ranging from 10 to 30 years. Use the tools provided above to help you make a well informed decision.
The credit union offers bi-weekly payments which saves interest and causes the loan to be paid off sooner. For example on a 30 year, $100,000 loan at 3.99%, if the payments are made every 2 weeks, (bi-weekly) $17,437 will be saved in interest over making payments once a month. The loan will also be paid off 5 years sooner.
Example of Savings:
|Loan Amount: $140,000 |
Loan Term: 30 years
Interest Rate: 3.99% apr
|Loan Paid In Full ||30 Years ||25 years |
|Interest Paid Over Life of the Mortgage ||$100,398.49 ||$84,098.64 |
Bi-Weekly Payment Option
Dollars Saved: $16,299.35
Loan Life Reduced: 5 Years