| FIXED RATE FIRST MORTGAGE LOAN
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| First Mortgage Loan
FIXED RATES* as of FEBRUARY 01, 2012
4.25% APR for 15 Years (Payment = $8.00 per $1,000 Borrowed)
4.35% APR for 20 Years (Payment = $7.00 per $1,000 Borrowed)
Members can also visit our CU-Members Mortgage page by clicking HERE for additional current RATES and programs available. Longer terms (30 years) and higher Loan to Value programs are available through CU-Members Mortgage.
Please contact either the main office location at 256-533-5389 or 1-800-547-8172, the Athens branch location at 256-232-3611, the Madison branch location at 256-722-5046, or the Sparkman branch at 256-852-0408 for complete information.
******************** MORE INFORMATION BELOW ********************
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Estimated Closing Costs:
These are estimated costs for internal mortgage loans financed and underwritten by North Alabama Educators Credit Union.
Application Fee: $75.00
Appraisal Cost: $350.00
Attorney Cost: $300.00
Survey (For purchases only): $300.00
Termite Letter: $100.00
Flood Research: $26.00
Title Insurance and Search: Based on Loan Amount
Recording Fees: Based on Location of Property
1% Origination Fee: Based on Loan Amount
Proof of homeowners insurance is required at the mortgage closing. Flood insurance is required when property is located in a flood zone.
For Purchases: Maximum amount for financing is either 85% of the appraised value or 85% of the sales price, whichever is less on owner occupied property.
For Refinances: Maximum amount for financing is 85% of the appraised value on owner occupied property.
North Alabama Educators Credit Union: NMLS # 634521
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* Rates quoted as annual percentage rates. Rates and loan availability are subject to change without notice. Information given is based on owner occupied property. All mortgage loans are subject to credit approval and must meet all mortgage qualifications. Applicants for mortgage loans must have been a member of North Alabama Educators Credit Union for at least 6 months to obtain this mortgage loan.
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