Consumers Credit Union Mortgage Rates and Mortgage Options Explained

Consumers Credit Union offers a range of mortgage options to suit different needs and budgets.

The credit union provides fixed-rate mortgages with terms of 10, 15, 20, and 30 years.

You can choose from a variety of loan options, including conventional, FHA, and VA loans.

Conventional loans are available with loan-to-value ratios of up to 97%, making it easier to qualify.

Interest rates are competitive, with rates starting at 3.5% for a 30-year fixed-rate mortgage.

Mortgage options are available to meet different needs, with choices like fixed and adjustable rates, fixed rate home equity loans, and adjustable rate home equity lines of credit.

Fixed rate mortgages can have loan amounts not to exceed $499,999, with rates such as 6.25% for a 30-year fixed mortgage.

You can also consider a home equity line of credit with a loan amount of $25,000 to $250,000, offering an adjustable rate as low as Prime + 0%.

If you're new to the home-buying scene or it's been at least three years since you've owned a home, you're in luck with CCU's Smart Start loan. This special home loan offers a downpayment as low as 3.00%.

A downpayment of just 3.00% can make a huge difference in your financial situation. No PMI is required, which means you won't have to worry about paying private mortgage insurance.

CCU's Smart Start loan is perfect for those with less-than-perfect credit scores, as no extra charge is added even if your credit score is lower than expected.

A fixed rate home equity loan can be a great option for homeowners looking to tap into their home's equity. You can borrow up to 80% of your home's value, with loan amounts ranging from $25,000 to $100,000.

These loans have competitive rates and terms ranging from 5 to 20 years. You can view your balance and make payments online through Digital Banking.

The APR for fixed rate home equity loans is subject to change without notice, and the actual rate and term will depend on your creditworthiness and the percentage of loan-to-value. For example, the APR calculation assumes a $50,000 loan with 80% combined loan to value, owner occupied, single family residence with a minimum FICO of 660.

The loan review committee and guidelines will review all loan requests. You can contact a CCU representative for more information and consult your tax advisor about the possible deductibility of interest.

Here are the available terms for fixed rate home equity loans:

Let an expert loan officer at Consumers Mortgages guide you through the loan process, offering flexible terms and great rates.

Consumers Mortgages has low fees, making borrowing more affordable.

You'll receive quick turn times, so you can get the funds you need efficiently.

Mortgages are serviced with the credit union, ensuring great service long after you close on your new mortgage loan.