Mortgage & Home Equity Rates
FIRST MORTGAGE BALLOON LOANS: We now offer a balloon mortgage to keep your payments lower and stay financed in-house at the Credit Union! With a 10/20 balloon mortgage, you have payments based on a 20 year amortization with a balloon payment due at the end of 10 years. This has a fixed rate of 5.39% APR. Estimated closing costs are approximately $719. (No origination fee!)
MORE FIRST MORTGAGE LOAN OPTIONS: Advantage Credit Union partners with Premier Lending Alliance for our members needing more than 80% financing or terms longer than 10 years. Among the many programs are Fixed Rate Loans up to 30 years, Variable Rate Loans, Balloon Programs, VA Loans, and a variety of down payment options, even 100% financing. For more information call Tim Wells at 866-451-3273.
Whether you are looking to purchase or refinance, give us a call! In-house mortgage loans can be financed up to 80% loan to value. Average closing costs are approximately $634. Current Rates are as follows:*
HOME EQUITY LINE OF CREDIT: You can establish a line of credit based on the equity in your home with a minimum initial advance of $5,000. After that you can get advances of $500 or more with just a phone call, home banking transaction, or a visit to the credit union. Average closing costs are approximately $719. The HELOC variable rate is based on the Prime Rate plus .50% and is subject to change January 1 and July 1 not to exceed a change of 2% per year.
| fixed 1st mortgage Closed end |
4.35% APR** - 5 Years |
5.39% APR - 10 Years |
| Closed end fixed 2nd mortgage |
5.09% APR - 5 Years |
6.14% APR - 10 Years |
*$50,000 minimum to waive closing costs. Loans under $50,000 closing costs range from $281-$681.
**Annual Percentage Rate. Add .25% if you do NOT enroll in automatic payments. No more than 80% loan to value. Rates are subject to change.
Payment example: $50,000 at 4.35% for 60 months is $928.93 per month.