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Real Estate Loan Products Offered and Serviced by EECU
The following loan types are available to members of EECU. Rates were current as of 8:30 AM on 03/10/10. Rates are for informational purposes only and are subject to change without notice. Please call (800) 538-EECU for current rates.
| Loan Type | Max Loan Amount | Payment Schedule | Note Rate | Points | Annual Percentage Rate | Monthly Pmt per $1,000 borrowed at the current rate | |
|---|---|---|---|---|---|---|---|
| Owner Occupied - Primary Residence | |||||||
| 1st Trust Deed | 5-Year Call Option | $417,000 | 30 Year | 5.000% X.XXX% X.XXX% | 0.00 X.XX X.XX | 5.038% X.XXX% X.XXX% | $5.37 $X.XX $X.XX |
| 1st Trust Deed | 5-Year Call Option | $417,000 | 15 Year | 5.000% X.XXX% X.XXX% | 0.00 X.XX X.XX | 5.066% X.XXX% X.XXX% | $7.91 $X.XX $X.XX |
| 1st Trust Deed | Fixed Rate | $417,000 | 15 Year | 5.000% X.XXX% X.XXX% | 0.00 X.XX X.XX | 5.066% X.XXX% X.XXX% | $7.91 $X.XX $X.XX |
| 2nd Trust Deed | 5-Year Call Option | $417,000 | 15 Year | 6.000% 5.750% 5.500% | 0.00 1.00 2.00 | 6.002% 5.908% 5.815% | $8.44 $8.30 $8.17 |
| Vacation Home | |||||||
| 1st Trust Deed | 5-Year Call Option | $417,000 | 30 Year | 5.000% X.XXX% X.XXX% | 0.00 X.XX X.XX | 5.038% X.XXX% X.XXX% | $5.37 $X.XX $X.XX |
| 2nd Trust Deed | 5-Year Call Option | $417,000 | 15 Year | 6.000% 5.750% 5.500% | 0.00 1.00 2.00 | 6.002% 5.908% 5.815% | $8.44 $8.30 $8.17 |
| Unimproved Property | |||||||
| 1st Trust Deed | 5-Year Call Option | $200,000 | 30 Year | 5.250% 5.125% X.XXX% | 1.00 2.00 X.XX | 5.378% 5.343% X.XXX% | $5.52 $5.44 $X.XX |
| FHA Title 1 - Home Improvement | |||||||
| Secured | Fixed Rate | $.01 to $25,000 | 84 Mos. | 6.750% | 0.00 | 6.860% | $14.97 |
| Secured | Fixed Rate | $5,000 to $25,000 | 120 Mos. | 7.000% | 0.00 | 7.080% | $11.61 |
| Secured | Fixed Rate | $15,000 to $25,000 | 240 Mos. | 7.500% | 0.00 | 7.547% | $8.06 |
| Home Equity Line of Credit | |||||||
| 1st Trust Deed | ARM | $200,000 | 15 Year | - - | - - | 4.750% | - - |
| 2nd Trust Deed | ARM | $200,000 | 15 Year | - - | - - | 4.750% | - - |
HELOC Loan- Variable APR accurate as of above date. Maximum lifetime APR is 5% over start rate shown above. $25 annual maintenance fee. $125 application fee. Additional fees to establish equity line range from $125 to $575.
Available on California owner-occupied real property only. Other restrictions may apply. There are additional closing costs associated with real estate financing. All loans subject to approval. Not all borrowers will qualify for all rates or loan types. APR may vary based on loan amount, loan purpose, and other factors. Rates and terms subject to change without notice.
FHA Title 1 Home Improvement- Actual APR will depend on term of loan.
5-Year Call Option Loans- On call option loans, payments are amortized over the term of 15 or 30 years, but we can call the loan due in full at 5-year intervals. For example, a 30-year $100,000 loan at 8.00% APR would have a monthly payment of $733.77, and we could require a balloon payment of $95,803.24 at the end of the 60th month, or we could waive that option and reconsider it at any of the subsequent 5-year anniversaries (year 10, 15, 20, 25) depending on the loan term. 20% equity or 20% downpayment required (40% on unimproved property).
15-Year Fixed Rate Loan- Minimum 20% equity required or 20% down payment if funds will be used to purchase a home. Rate buy-down available with points.
Special Notice on All Closed-End Mortgage Products: During an economic period where values are trending downward and not yet stabilized, if the appraisal indicates the property is located in a market in which real estate values are declining, the product's maximum financing will be based on 5% below the applicable closed-end loan product's maximum Loan-to-Value and Combined-Loan-to-Value.
