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Mortgage & Home Equity Products

Mortgages

Please call our qualified Mortgage Originators for an appointment.

Anoel Kelly, Financial Service Manager; MLO #803606

877-378-6466 Ext. 111

Rob White, Lending and IT Officer; MLO #803701

877-378-6466 Ext. 115


The following is a list of the information you will need to bring with you when you return the completed application and would be helpful at the consultation:

  • Names, addresses, and account numbers for all creditors and depositors.

  • Pay stubs covering the most recent 30-day period.

  • W-2’s for the previous two years.

  • Federal tax returns (all schedules) for the last two years

  • Two months of the most recent bank statements, for non LCU accounts, for savings, checking, and investment accounts (including retirement accounts) not held at LCU. Please include all pages of your statements.

  • Copy of separation agreement/divorce decree to verify child support and/or alimony received, supply six months payment history.

  • Name, address, and telephone number of your current landlord or twelve months of cancelled rent checks.

  • Purchase offer, signed by all parties, and seller disclosure.

For a refinance also include:

  • The abstract of title, most recent survey map, paid tax receipts, a copy of homeowner’s insurance and endorsement page, a copy of current deed and a copy of the title insurance policy.

Currently the processing time to closing is approximately 8 weeks. The items listed above are required to process the loan and assure a timely closing.

Please advise us of which attorney, along with his or her phone number, you wish to use, as soon as possible. The credit union’s attorney is Robert Birch. His office can also represent you in this transaction.

Mortgage Rates:

Rates Effective: 11/10/14-11/16/14


TYPE APR* POINTS Effective APR
FIXED RATES 15 YR 3.25% 1.00 3.40%
3.50% 0 3.50%
30 YR
4.375% 0

  • The rates and points set forth above are for a loan to home value ratio (LTV) of 80% or less.
  • Owner occupied fixed rate purchase mortgages require minimum 5% down.
  • 15 year term equals 180 payments.
  • 30 year term equals 360 payments.
  • Other terms and conditions may apply. Contact the Credit Union for details.
  • Non-conforming loans now offered. Contact the Credit Union for details.


APPLY FOR A MORTGAGE ONLINE NOW┬╗

Home Equity Products

Home Equity Line of Credit:

Rates Effective: 11/30/14

Home Equity Line of Credit
  • As low as 3.75% APR* (variable)

  • Minimum of $10,000.00

  • Maximum of $250,000.00

  • 15 year term with a draw period of 5 years on the line of credit

  • Draw $10,000.00 and NO closing costs, but member will pay the mortgage tax.

  • Borrow up to 80% less first mortgage payment of your home's equity.

  • CAP 18.00%.

  • Floor 3.75% APR* (Rate based on prime rate as published in the Wall Street Journal, the rate is adjusted quarterly). And you may borrow up to 80% of the appraisal of your home less any other mortgage.

  • Reimbursement of Credit Union closing costs is required if the loan is paid off and discharged within the first 24 months.

  • Double-wide manufactured home financing. Must be primary residence, located on own deeded lot, on a poured slab and less than 20 years old; home equity line of credit rate plus 3% APR for maximum of 12 years.

*APR is the Annual Percentage Rate.
- Loans are subject to credit approval and loan rates are subject to change without notice.
-You may borrow up to 80% of the appraisal of your home less any other mortgage.


  Term APR*
Variable rate HE up to 80% LTV 120 Months
(A-D members)
3.75-7.75%

*APR = Annual Percentage Rate

Home Equity Loan:

Rates effective: 11/30/14

Fixed Rate Home Equity Loan

Home Equity Loan-Fixed Rate as low as 5.00% for 120 mos. APR, or as low as 7.5% for 180 mos. APR*
Borrow up to 80% less first mortgage payment of your home's equity!

  • Minimum of $10,000.00

  • Maximum of $125.000.00

  • Term up to 10 & 15 years

  • Draw at least $10,000.00 and NO closing costs, but member will pay the mortgage tax.

  • Reimbursement of Credit Union closing costs is required if the loan is paid off and discharged within the first 24 months.

*APR is the Annual Percentage Rate.
- You may borrow up to 80% of the appraisal of your home less any other mortgage.
- This is not a revolving line of credit


  Term APR*
HE Loan up to 80% LTV 120 Months
(A-D members)
5.00%-9.50%
180 Months
(A-D members)
7.5%-10.50%

The rates quoted here are indications only; all rates are subject to change without notice.

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