Federal Mortgage Relief

• Predicable payments: The interest rate and principal and interest (P&I) payment remains the same for life of the loan.
• Various loan term options available up to a 30-year term.
• No Mortgage Insurance option available on a 20-year or less term.
• Bi-weekly payment option available.
• On a shorter term loan, the monthly P&I payment is typically higher than a longer term loan. Overall interest paid is higher on a longer term loan versus a shorter term loan.

• $600 towards closing costs.
• Competitive rates.
• 100% loan-to-value financing for purchase or interest rate reduction.
• 100% loan-to-value for cash out refinance.
• Low and no down payment options.
• The borrower must meet VA eligibility requirements.
• Provides financing for qualified veterans, reservists, active duty personnel, or other eligible family members.
• A variety of loan options available with both fixed and adjustable rates.
• Closing costs may come from gift or grant.
• Typically a one-time funding fee is required; however it can be financed into the loan amount.
• Financing on a primary residence only.

If you do not qualify for a VA loan, Marine FCU has other high loan-to-value mortgage options.

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• A non-conforming loan with mortgage loan amounts generally above $417, 000.00 costlier homes.
• Available in a variety of fixed rate loan options.

• A home equity loan will be an additional monthly payment as a second lien and additional debt secured by your home.
• Receive funds in a lump sum at closing.
• Fixed interest rate for the life of the loan.
• Fixed monthly principal and interest (P&I) payments.

Note: Potential tax benefits, unlike personal loans or credit card financing, interest on a home equity loan potentially may be tax deductible, consult your tax adviser regarding the deductability of your interest.

• Rates as low as 4% APR.
• No Private mortgage insurance
• Access available via plastic card, transfer, or checks

• One-time loan closing keeps closing costs low.
• Interest rate locked in before construction phase starts.
• Loan amounts up to $1, 500, 000.
• No mortgage insurance with a 10% down payment.
• Primary residence only.
• Acceptable properties include single family residences, two to four unit properties, modular and manufactured homes.
• Builder...