 Special
10-year fixed rate mortgage loans
Second mortgages |
How to apply
We guarantee your rate for 10 years! We can refinance your first
mortgage loan with no points or application fees, and low closing costs.
Featuring a 10-year, fixed rate mortgage with a 10-year amortization
at our base rate of 5.8% APR, or 5.55% APR with payroll
deduction or electronic repayment. Other rates and terms are available.
Contact the loan department at 414-649-7948 for more information, or
fax a request for a loan application to 414-643-1496.
* APR is the annual percentage rate. Membership eligibility required. For example, a
10-year fixed rate
mortgage loan of $50,000 would require 120 monthly payments of $544.01
at 5.55% APR. The advertised APR of
5.55% is available only on mortgages with an 80%
loan-to-value and a 10-year amortization
with payroll deduction or electronic repayment. Equal Housing Opportunity. Other rates and terms are available. All loans
subject to credit approval.
All rates subject
to change without notice. Other restrictions may apply. Property
insurance required. Closing costs range from $200 to $800.
First Mortgage Loans
When you are in the market to purchase a
new home or looking to refinance your present mortgage loan, see your
credit union.
- Financing available up to 97% of the value of your
home.
- Private Mortgage Insurance (PMI) is required if the down payment is
less than 20% of the home's value.
- Private Mortgage Insurance allows you to own your own
home with as little as a 3% down payment.
- Save an additional .25% off the rate with payroll deduction or
electronic repayment.
- Loans can be repaid up to 30 years and are subject to
credit approval.
- No points or application fees.
- We service all of our loans.
- No prepayment penalty.
- Low closing costs.
For current rates, click here.
The following items are required to process your
application:
- Proof of income.
- Copy of your Property Tax bill.
- A Real Estate Appraisal (please let us
know if you have an appraisal less than one year old).
- Copy of your Homeowners Insurance.
- Title Insurance Policy.
Competitive rates and excellent service are
what members expect at Aurora Credit Union.
Whether you are looking for a fixed rate loan or an open line of credit
see your Credit Union.
- Financing available up to 90% of your
home's value.
- Save an additional .25% off the rate
with payroll deduction or electronic repayment.
- For closed end loans the rates are
guaranteed up to 5 years.
- Closed end loans feature a 5 year fixed rate, with 10 year
amortization, and a balloon payment feature due after 5 years.
- Loans are subject to credit approval.
The following items are required to process your
application:
- Proof of income.
- Copy of your Property Tax bill.
- A Real Estate Appraisal (please let us
know if you have an appraisal less than one year old).
- Copy of your Homeowners Insurance.
- Title Insurance Policy.
Home Equity Lines of Credit
- Home equity line of credit has a variable rate equal to the
prime rate, are subject to change monthly. The rate as of Sept. 20,
2005 was 6.75% APR.
- The minimum monthly payment on the line of credit loans is 2% of
the outstanding balance.
- The minimum check amount is $200.
- No points or application fees, closing costs range from $200 to
$800.
- Private Mortgage Insurance (PMI) is required if the mortgage
loan exceeds 80% of your home's value.
- Private Mortgage Insurance allows you to own your own home with
as little as 3% down payment.
- Property insurance is required.
- Consult your tax advisor for interest deductibility. Your rate
may increase but will never exceed 18% or go below 4%.
Please contact the Loan Department at (414)
649-7948 or (888) 530-9555. Click
here to go to our Application Forms page.
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