Home Loans |
First Credit Union can help you become a homeowner. Whether you are a previous homeowner or brand new to the mortgage process, we make owning your own home a reality. Loan Rates |
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1st Home Mortgages |
A First Credit Union mortgage offers a variety of terms with fixed and adjustable rates. We'll finance from $50,000 to $2 million for maximum buying power. Learn More |
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Home Equity Loans |
| Equity in your home is an excellent source of funds for your financial needs. A home equity loan with First Credit Union can allow you to finance your child's college education, consolidate bills or make home improvements. The best thing is that interest payments on equity loans are usually tax deductible, but always check with your tax advisor. |
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| Home Equity Mini |
| A home equity mini is a home equity loan with a shorter term of only 60 to 72 months and a rate as low as 6.00% APR. The home equity mini offers a lower fixed interest rate because the term is shorter. You can consolidate debt or finance a home improvement project and pay off the loan over 5 to 6 years rather than 10 to 20 years. |
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| Some additional conditions and restrictions are: |
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Minimum loan amount is $5,000 |
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Maximum loan amount is $50,000 |
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Maximum loan to value is 80% or less |
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First or second lien position only |
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Can be used to refinance a current First Credit Union loan with a $5,000 minimum increase in loan balance |
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Can be used to refinance an existing home equity loan with another lender |
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Homes with interest only or negative amortization first mortgages are not eligible |
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Only owner-occupied, primary residence, single family dwelling located in the State of Arizona are eligible |
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Land and mobile homes are not eligible |
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Third party fees waived for appraisal, title insurance, flood zone determination and recording provided members maintain loan in good standing and does not pay off loan for 24 months |
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| Fixed Rate Home Equity Loan |
| A closed end loan, secured by the deed of trust on your home. The loan amount is disbursed in one lump sum. This closed end loan has a fixed annual percentage rate. You can choose a repayment plan up to fifteen years. |
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| Home Equity Line of Credit |
| A revolving line that allows withdrawals as you spend. The flexibility of a First Credit Union line of credit allows for a draw period of 10 years and a repayment period of 15-20 years depending on the loan balance. |
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| Requirements for home equity lending: |
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Arizona state residents only |
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Single family dwellings only |
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Primary residence, owner-occupied only (Does not include land or mobile homes) |
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Homes with first mortgages with negative amortization are not eligible |
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Homes with interest only first mortgages are not eligible |
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Maximum loan to value 80% or less |
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| Homebuyer's Guide |
| Knowing how the home buying process works is a huge advantage for a first time homebuyer. First Credit Union can help guide even experienced homebuyers through the process. Take a look at our AnyTime Adviser Home Buying Coach video. |
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| Did You Know |
| First Credit Union offers homeowners insurance. Get an online quote from Members® Homeowners Insurance. |
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| How to Apply |
| To finance your new home please choose from the options below: |
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Complete a Home Equity loan application at any branch or |
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Complete a Home Equity Loan application. Log in to your account or click the "non-member" button. A First Credit Union representative will contact you. |
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For home mortgages please contact the Mortgage Department at (480)821-1000 or (800)732-6986 or complete a mortgage application. |
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