- Home Purchase or Refinance
- Reverse Mortgages
- Home Equity Line of Credit
- Home Equity Fixed Rate
- Home Cash Loan
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.
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.
Home Equity Line of Credit – No Closing Costs**
A variable rate plan (based on M & T Bank’s Prime Rate minus 1%) with a floor rate of 4.0% APR.*- 10-year draw period for future advances.
- Approved loan amounts to qualified borrowers (based on 85% of appraised value less your first mortgage balance).
Home Equity Fixed Rate – No Closing Costs**
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APR Range
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Terms
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2.90% to 8.90%
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Up to 60 months
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3.90% to 9.90%
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Up to 120 months
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4.90% to 10.90%
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Up to 180 months
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- Approved loan amounts to qualified borrowers (based on 85% of appraised value less your first mortgage balance).
Home Cash Loan – No Equity Required
- Rates range from 9.00% to 15.00 APR*
- Qualified applicants can borrow from $3,000 to $20,000
- Terms up to 60 months
- Member pays only 50% of recordation fees. Credit Union will pay the cost of the other half of these fees along with other closing costs associated with this transaction. If loan is paid off within 24 months of the original note date, closing costs must be reimbursed to Credit Union by the borrower.
* Subject to credit approval. Check for qualifying details.
APR = Annual Percentage Rate
** 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.
