Home Loans
A first mortgage has priority over all other liens or claims on a property in the event of default. Whether the member is buying or refinancing, First Californian offers a variety of mortgage programs that best suits our member’s needs. We can help our members find just the right mortgage.
Programs
- Purchase loans.
- Refinance and cash out loans.
- FHA financing and low down payment loans (secondary market).
- VA Financing and low down payment loans (secondary market).
- First-time homebuyer programs.
Minimum Requirements
- Must meet credit union member eligibility requirements.
- Eligible upon approved credit.
- Variable and Fixed Rate Terms available.
- Loan Term – Up to 30 years.
- Maximum Loan-to-Value (LTV) 90%.
- Loans over 250K have 0.50% APR added to Interest Rate.
Product Fees
- Account subject to all General Account Fees (Refer to Services Fee Guide).
- Account subject to all Loan Closing Cost Fees (Refer to Loan Closing Fee Schedule).
- Late Fee 5% of monthly payment, minimum $10, maximum $35 (exception suffix 71C).
- Late Fee Suffix 71 C – 5% of monthly payment, minimum $10, no maximum.
Product Features
- Maintains original rate throughout the life of loan (fixed rate term).
- Market fluctuations won’t affect interest.
- Refinancing may lower the interest rate and monthly payment.
Appointment Location
- Appointments can be scheduled at any AMUCU Branch Location.
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