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Effective April 21, 2008
Our credit union uses the Fannie Mae 1003
Real Estate Loan Application
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Mortgage Loans |
Terms | Maximum Loan | Interest Rate |
| First Mortgage | 240 months with 5 year call | 80% loan to value | As low as 6.10% |
| First Mortgage | 180 months - fixed | 80% loan to value | As low as 6.90% |
| Second Mortgage | 180 months with 5 year call | 80% combined loan to value | As low as 7.10% |
| Second Mortgage with No closing costs | 120 months - fixed | 90% combined loan to value | As low as 6.50% |
| First Mortgage Vacant | 60 months with 2 year call | 65% loan to value | As low as 7.90% |
| First Mortgage Vacant | 84 months with 2 year call | 65% loan to value | As low as 8.90% |
Loan fee of $275.00 to $475.00. Minimum loan amount $10,000.00
.15% rate reduction on all Mortgage Loans with an existing State Employees Checking Account or by opening a Checking Account with SECU. Payment must have auto transfer from a SECU deposit account.