Mortgage Loans for as low as 2.70% APR at Mutual Savings Credit Union

Thinking about a new home? In this buyer’s market, there are many styles of homes available to choose from but there’s only one place you should look for your mortgage needs: Mutual Savings Credit Union. Whether you’re going to purchase or refinance, you can do that at Mutual Savings Credit Union.

One great financing option available at Mutual Savings Credit Union is an adjustable rate mortgage, commonly referred to as an ARM. In addition to our current rates that start as low as 2.70% APR*, here are five benefits of an adjustable rate mortgage loan.

90% loan to value which saves you from paying Private Mortgage Insurance (PMI) – consumers who don’t have to pay this monthly premium save money and potentially have more flexibility in their cash flow.

No pre-payment penalties – managing your finances and your mortgage makes it easy to pay off at your convenience, or even refinance again.

Below market closing costs – depending on where you finance some members have saved up to half of their closing costs which provides an immediate impact to your budget.

Full appraisal may not be required – we treat each loan individually and try to make sure we only require the documentation needed to complete your loan.

Quick turnaround time – As each loan is unique, we understand that getting your mortgage completed quickly is very important and we work to get it turned around as quickly as possible.

How the adjustable rate mortgage works:
Interest rates are fixed for a period of 1, 3 or 5 years. After the fixed rate period, your interest rate can adjust up or down depending on market conditions. Your payment is based on a 30-year amortization.

Rate adjustments cannot exceed a 2% increase per year and cannot exceed a 6% over the life of the loan. This means if your initial interest rate is 4.00% your rate will never be higher than 10.00%.

Your actual payment will vary based on your situation and the current interest rates when you apply.
You may pay your mortgage at any time without pre-payment penalties. Speak with a Mutual Savings Credit Union real estate lender today by calling (800) 950-6728.

*Offer available to qualified borrowers. Rates may be as low as 2.70% APR. APR = Annual Percentage Rate. This is an adjustable rate mortgage loan. ARMs will adjust depending on the type of loan. A 1/1, 3/1 and 5/1 ARM is available. The annual percentage rate is the advertised rate and can vary based on credit worthiness, length of time for approved financing and down payment. Limited time only. Certain restrictions may apply. No minimum loan size.

This entry was posted on Thursday, January 31st, 2013 at 2:36 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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