Mortgages

We offer fixed conventional mortgages with 15, 20, 30 and 40-year fixed rates, adjustable rate mortgages (ARMs), 5 and 7-year balloons.

Primary Residential Properties

  • Purchases are available for up to 95% maximum financing on Single Family Dwellings for qualified borrowers; 90% on all condos; 75% on 1-4 Unit Dwellings
  • Refinances are available for up to 90% maximum financing
  • Cash-out refinances are available for up to 85% maximum financing and require additional pricing adjustments based on the qualifications of each member’s credit score, credit history and income, loan-to-value (LTV), occupancy, loan purpose, payment type, and loan amount.

    Investment Properties

  • Purchases are available for up to 70% maximum financing
  • Refinances are available for up to 70% maximum financing; NO CASH OUT
  • Interest rates will be 1% higher than conventional rates.
  • Maximum term is 15 years.

    Information needed before processing can begin:

  1. A check in the amount of $385.00 for the following: A residential mortgage credit report ($60.00), a flood zone determination certificate ($15.00), and a FNMA appraisal of the property you wish to mortgage ($310.00). Please be aware that the actual cost of the appraisal may be more than $310.00 and that you will be responsible for any additional cost.
  2. A processing fee of $150 will be charged to all applicants regardless of the final outcome of the loan.
  3. Copies of your original pay statements for the two most recent months.
  4. Copies of your tax returns with all schedules attached for the last two years with new original signatures above previously signed signatures.
  5. Original copies of your statements of wages (W-2’s) for the last two years.
  6. If retired, copies of retirement award letters, tax returns or IRS forms. For Social Security verification, copies of the Social Security Administration’s award letter of copies of the last 12 bank statements.
  7. A copy of the sales contract for the property you wish to purchase, or if you are refinancing
    1. A copy of your deed showing evidence of ownership.
    2. A copy of your most recent survey
    3. A copy of your first mortgage balance statement for all existing mortgages
    4. Original copies of your last three bank/investment statements for all deposit accounts. (Statements must reflect activity for a minimum of three months).
  8. Copy of your homeowner’s insurance declaration page and copy of most current property tax bill.

For further details contact our Mortgage Loan Representatives at 1-800-336-0284.