The following is a disclosure of terms applicable to our current Real Estate loans. It outlines the general terms of Real Estate loan requirements. Please contact our Real Estate department for specific information. Property must be located in Alaska to qualify for a Credit Union 1 Real Estate loan.
Effective Date: 3/17/2020
| Loan Type | Rate | APR | Notes |
|---|---|---|---|
| Owner Occupied 1st Deed of Trust Single Family – 4-Plex or Approved/Eligible Condo | |||
| 15-Year Fixed | 2.875% | 3.082% | Based on a $100,000 loan for the specified term |
| 30-Year Fixed | 3.375% | 3.492% | Based on a $100,000 loan for the specified term |
| Second Homes 1st Deed of Trust Single Family – 4-Plex or Approved/Eligible Condo | |||
| 20-Year Fixed | 3.375% | 3.540% | Based on a $100,000 loan for the specified term |
| Owner Occupied 1st Deed of Trust Single Family – 4-Plex or Approved/Eligible Condo | |||
| 15-Year Fixed First time Homebuyer | 2.875% | 2.940% | • Based on a $100,000 loan for the specified term • No origination fee on these loans • Income limitations apply • Maximum Term: 15 Years |
| 30-Year Fixed First time Homebuyer | 3.375% | 3.413% | • Based on a $100,000 loan for the specified term • No origination fee on these loans • Income limitations apply • Maximum Term: 30 Years |
| Owner Occupied Home Equity 2nd Deed of Trust (Single Family – 4-Plex) | |||
| Fixed Rate | 6.500% | 6.557% | • Based on a $100,000 loan for a 20-year term • Maximum 85% Loan to Value • Maximum Term: 20 Years |
| Owner Occupied Equity Advantage HELOC (Single Family or Duplex) | |||
| Adjustable Rate | 4.000% | 4.000% | • Minimum Rate: 4.000% • Maximum Rate: 15.000% • Monthly Adjustable Max. 85% Loan to Value |
| Non-Owner Occupied 1st Deed of Trust Single Family – 4-Plex | |||
| 20-Year Fixed | 5.375% | 5.664% | Based on a $100,000 loan for the specified term and the loan to value is 75% and below |
| Unimproved/Recreational Property | |||
| 12-Year Fixed | 8.250% | 8.556% | Based on a $50,000 loan for a 12-year term •5 year loan- 65% loan to value- 7.000%-7.639% APR |
Disclosure of Terms:
Interest rates and/or points, terms and conditions are subject to change without notice, and may vary based on credit quality, loan amount, property type and collateral conditions. The Annual Percentage Rates (APRs) disclosed above assume a 20% down payment (30% on unimproved and recreational property) and include a 1% origination fee for all owner occupied properties and an additional 1% fee for all non-owner occupied properties. Example rate of 4.500% APR with 360 Monthly payments (30 year) = $506.69 monthly per $100,000 borrowed. If the down payment is less than 20% for owner occupied first deeds of trust, mortgage insurance may be needed; this could increase the payment and APR. The APR does not include all closing costs. The interest rate for Adjustable Rate Mortgage (ARM) loans may increase after consummation. The monthly payment does not reflect amounts to be paid into escrow, such as taxes or insurance. All loans are subject to credit approval.