Buying a home may be the biggest purchase of your life! You can trust APCU to make it easy with first-class service. We also offer refinancing, second mortgages, and home equity lines of credit to help you make the most of home ownership. Many of our mortgage options are detailed below.
Whether it's your first home purchase or the first one you've purchased in a while, APCU makes the home-buying process understandable and affordable. We offer a variety of flexible mortgage options at competitive rates to meet your needs:
- No Closing Cost Mortgage Program*
At APCU, you have the option to select a loan with no closing costs or take advantage of a lower rate over the life of your mortgage loan with closing costs. Even if you already have a mortgage financed with APCU and would like to refinance and use the equity you have earned in your home, you may qualify for this money saving No Closing Cost Program.
- Fixed rate mortgages
- Terms between 10 and 30 years
- No pre-payment penalty on any mortgage loan
- VA mortgages
A VA mortgage is a loan insured by the Veterans' Administration. VA loans allow qualified veterans to purchase or refinance a home with no down payment required.
*Not eligible for non-conforming or non-qualified mortgages. VA funding fee for VA mortgage loans must be paid by borrower. First Mortgage loans must be $50,000 or greater and Second Mortgage Loans and HELOC Loans must be for $20,000 or greater with a minimum $10,000 draw on the HELOC loan in order to qualify for the No Closing Costs Program. At closing, the borrower(s) will receive a credit on their Settlement Statement for upfront fees. APCU will pay the Closing Costs [Origination Charge, Tax Service Fee, Title Services and Lenders Title Insurance, Owners Title Insurance (purchases only), Recording and Transfer Charge and Pest Inspection Fee (purchases only)]. Borrower(s) are responsible for paying the Appraisal Fee (range of fee is $300-$765), Credit Report Fee, and Flood Certification Fee (upfront fees) at the time of application. If the borrower(s) does not close the loan, the borrower(s) will not be refunded the upfront fees. If the borrower(s) refinances their existing APCU First Mortgage Loan, APCU Second Mortgage or APCU HELOC, they must take out an additional $15,000 or more above the current mortgage payoff in order to qualify for the No Closing Cost Program. Property Insurance is required. Mortgage and/or HELOC cannot be paid off within 36 months of original financing date.
Want to lower your interest rate, change the terms of your loan, or combine two current mortgage loans into one? APCU offers mortgage refinancing (including VA mortgages).
You can use your house as collateral for another loan. A second mortgage can be used for a variety of purposes, including debt consolidation, educational expenses, home improvements, and more.
A home equity line of credit allows you to borrow against your home's value with maximum flexibility in terms of receiving funds and how and when to spend your money.
- Borrow as much as you need from your approved line, when you need it
- Access funds by writing a check or using your VISA Platinum Credit Card
- Make payments only on what you borrow
Experience peace of mind knowing your mortgage is financed with people you know and trust. Our mortgage experts are on hand to help you find the mortgage program that works best for you.
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For more information or assistance, visit one of our convenient branch locations or call (800) 849-8431.