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Products & Services: Home loans
Home Purchase or Refinance
 Your Credit Union offers mortgage financing alternatives
for you to choose from. Whether you want to buy a new home
or refinance your existing mortgage(s), we have programs
to help you. Choose from fixed, adjustable, or buy down rates.
Rates and points can change daily, subject to change without
notice.
For specific rate information, call the Loan Department
at 410-828-4730 or 1-800-234-4730 or visit our On-Line
Mortgage Center click
here.
Do you already qualify?
Click here to check out the Mortgage Pre-qualifying Calculator.
Reverse Mortgages
A Reverse Mortgage is a unique loan that allows homeowners
age 62 years and older to convert part of the equity in their
home into monthly income or cash without having to sell the
home, give up title, or take on additional monthly mortgage
payments.
A variety of payment options are available for reverse mortgages.
These payment options include a monthly annuity, single lump
sum payment, a line of credit, or a combination of these
options. To find out more, please contact the Reverse Mortgage
Specialist at CUMA (Credit Union Mortgage Association)...your
Credit Union's mortgage business partner.
Robert Treadway 1-703-425-1204 ext 128
1-800-231-8855,
ext 128.
rtreadway@CUMortgage.net
To view an educational powerpoint on Reverse Mortgages,
click
here.
To view the Reverse Mortgages "FAST FACTS" brochure,
click
here.
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Home Equity Line of Credit
- No Closing
Costs**
- A variable rate plan (based on M & T Bank’s
Prime Rate minus 1%).
- Initial advance of $7,500 required.
- 10-year draw period
for future advances.
- Approved loan amounts to qualified borrowers
(based on 85% of appraised value less your first mortgage
balance).
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Home Equity Fixed Rate
- Rates range
from 6.50% to 10.50% APR*
- Terms up to 180 months
- No Closing Costs**
- Approved loan amounts to qualified borrowers
(based on 85% of appraised value less your first mortgage
balance).
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Home Cash Loan
- No Equity
Required
- Rates range from 9.00% to 13.00
APR*
- Qualified applicants
can borrow from $3,000 to $20,000
- Terms up to 60 months
* Subject to credit approval. Check
for qualifying details.
APR = Annual Percentage Rate
** Minimum loan amount of $7,500
required. If loan is paid off within 24 months of the original
note date, closing costs must be reimbursed to Credit Union
by the borrower.
Note: Properties which are security
for any type of Home Equity Loan must be your Primary Residence
(owner occupied) and are limited to the State of Maryland
and bordering Pennsylvania Counties of York, Adams, Lancaster,
and Chester.
For complete details and disclosures, visit a Loan Counselor
today!
To apply for a Home Equity Loan, click
here.
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