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Rates

Rates Effective March 18, 2024
All rates are for 1-4 family owner occupied property

SuperFlex Mortgage - Fixed Rate
Conventional Loan Limits Apply
Loan Type Term Points Rate as low as APR Monthly Pmt Per $1000
5‐9 Year Mortgage1* 61 - 108 months 0 6.000% 6.240% $12.01
10‐14 Year Mortgage2* 109 - 168 months 0 6.375% 6.540% $9.01

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1 Annual Percentage Rate (APR) subject to change without notice and based on credit history. APR based on a loan‐to‐value (LTV) of 80%, no Loan Level Price Adjustments (LLPAs) and loan amount of $100,000 with 108 monthly payments. Choose any number of months from 61 to 108.

2 Annual Percentage Rate (APR) subject to change without notice and based on credit history. APR based on a loan‐to‐value (LTV) of 80%, no Loan Level Price Adjustments (LLPAs) and loan amount of $100,000 with 168 monthly payments. Choose any number of months from 109 to 168.

*Additional rates and terms available. Monthly payments do not include escrow for taxes or mortgage insurance; actual payment obligation will be higher. Homeowners insurance is required. APR reflects 0.125% discount with automatic funds transfer as a payment method. Membership and credit requirements apply.


Conventional Mortgage – Fixed Rate
Conventional Loan Limits Apply
Loan Type Term Points Rate as
low as
APR Monthly Pmt
Per $1000
Mortgage Flex** 360 Months 0 7.125% 7.329% $6.74
30 Year Mortgage 360 months 2 6.375% 6.707% $6.24
20 Year Mortgage 240 months 2 6.000%

6.431%

$7.16
15 Year Mortgage 180 months 0 6.500% 6.721% $8.71
10 Year Mortgage 120 months 0 6.125% 6.435%

$11.16

 

30 Year Construction to Permanent Loan* 360 months 0 7.125% 7.329% $6.74
Land Loan 120 months 0 8.000% 8.321% $12.13

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Annual Percentage Rates (APR) subject to change, based on a loan amount of $100,000 with 20% down, no Loan Level Price Adjustments (LLPAs), and a minimum credit score of 740 for allAnnual Percentage Rates (APR) subject to change, based on a loan amount of $100,000 with 20% down, no Loan Level Price Adjustments (LLPAs), and a minimum credit score of 740 for all borrowers. Your rate may be higher. APR reflects 0.125% discount with automatic funds transfer as a payment method. Owner-Occupied 1-4 Unit Property Only. Monthly payments do not include escrow for taxes, insurance, or mortgage insurance where applicable. Your payment may be greater. Loan Level Price Adjustments (LLPAs), using the Fannie Mae LLPA chart may be charged at closing based upon certain loan characteristics. When LLPAs apply, your APR will be higher. Appraisal fee collected upon approval of application and non-refundable. Homeowners insurance is required. borrowers. Your rate may be higher. APR reflects 0.125% discount with automatic funds transfer as a payment method. Owner-Occupied 1-4 Unit Property Only.

Monthly payments do not include escrow for taxes, insurance, or mortgage insurance where applicable. Your payment may be greater. Loan Level Price Adjustments (LLPAs), using the Fannie Mae LLPA chart may be charged at closing based upon certain loan characteristics. When LLPAs apply, your APR will be higher. Appraisal fee collected upon approval of application and non-refundable. Homeowners insurance is required.

*Fixed rate for the first 6 months during the draw period; interest only payment required. After the construction period, the payment of principal and interest will be amortized for the remaining term. Tax and insurance escrows not available. Payment listed does not include taxes and insurance (if applicable) and actual payments will be greater. No Points No Closing Cost program not available for this product.

**One-time no-cost interest rate adjustment may be requested between 60 days - 24 months after the loan closing date. The rate will be determined by the current rate as listed on the Members First Credit Union website as the 30 year O point Mortgage Flex on the date this request is received. The adjustment will adjust monthly principal and interest payment and will not change the maturity date of the original note, current outstanding principal balance or allow funds to be advanced. Loan must be current and never been greater than 30 days pas due. Other restrictions may apply. Insured by NCUA.


No Points, No Closing Costs Mortgage – Fixed Rate
Conventional Loan Limits Apply
Loan Type Term Points Rate as low as APR Monthly Pmt Per $1000
30 Year Mortgage 360 months 0 7.375% 7.517% $6.91
20 Year Mortgage 240 months 0 7.125% 7.306% $7.83
15 Year Mortgage 180 months 0 7.125% 7.350% $9.06

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Annual Percentage Rates (APR) subject to change and based on credit history. APR reflects 0.125% discount with automatic funds transfer as a payment method. Cash out refinances are subject to an additional 0.250% added to the rate.

No Closing Costs are incurred on Fixed Rate First Mortgage Loans with the following requirements: (1) No Closing Cost program is selected at application (the rate for this product is higher than the traditional rate). (2) Loan amount is $100,000.00 or greater. (3) Property is a Single-Family Primary Residence or Second Home. (4) Home is not listed for sale. (5) Maximum Debt-to-Income ratio of 43%. (6) Loan meets investor requirements for Loan-to-Value, Mortgage Insurance approval if required, credit profile, appraisal, and title.

At closing, a credit equal to the amount of the third-party bona fide charges will be reflected on the Closing Disclosure, subject to the following exceptions: Fees for owner's title insurance or state transfer taxes (if transaction is a purchase) are not included in the No Closing Cost Program, and are the responsibility of the borrower. If the title is held in a trust, fees for trust review and trustee certificate preparation and recording will be incurred by member. Fees for additional title work or documentation to correct title defects will be charged at the time of closing and are not covered by the No Closing Cost program. Escrow Deposits and Interim interest from the date of disbursement to the 1st of the following month will be charged at the time of closing and are not covered by the No Closing Cost program. The appraisal fee will be collected at the time the appraisal is ordered and will be credited back to you at closing. No refund of appraisal fee if loan does not close. If Mortgage Insurance is a requirement of the loan, the Mortgage Insurance premiums are not covered by the No Closing Cost Program. Homeowners insurance is a requirement of the loan and the cost is not covered by the No Closing Cost program. If flood insurance is required, it is not covered by the No Closing Cost Program.

No Points, No Closing Costs Mortgage must be open for at least 180 days before becoming eligible to refinance with Members First Credit Union.


Adjustable Rate Mortgage (ARM)
Conventional Loan Limits Apply
Loan Type Term Points Rate as
low as
APR Monthly Pmt Per $1,000 initial rate For # of months Monthly Pmt Per $1,000 fully indexed rate For # of months
1/1 Year ARM 360 months 0 6.000% 6.130% $6.00 12 $7.66 348
3/1 Year ARM 360 months 0 6.250% 6.382% $6.16 36 $7.79 324
5/1 Year ARM 360 months 0 6.500% 6.634% $6.32 60 $6.32 300
Seasonal Property 3/1 ARM 360 months 2 7.000% 7.345% $6.65 36 $6.65 324

(Please note: on smaller devices, you will need to scroll sideways to see all of the information.)

Annual Percentage Rates (APR) subject to change, based on a loan amount of $100,000 with 20% down, no Loan Level Price Adjustments (LLPAs), and a minimum credit score of 740 for all borrowers. Your rate may be higher. APR reflects 0.125% discount with automatic funds transfer as a payment method. Owner-Occupied 1-4 Unit Property Only.

The index for all Adjustable Rate Mortgages is the weekly average of the U.S. Treasury securities for the applicable term. The interest rate on the ARMs will adjust periodically and that may result in an increase of the interest rate after closing. Rates, terms, and conditions are subject to change.

The 1/1 ARM offers a fixed rate for 1 year and adjusts annually after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3 percentage points. Caps are 2% annual and 6% lifetime.

The 3/1 ARM offers a fixed rate for 3 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3 percentage points. Caps are 2% annual and 6% lifetime.

The 5/1 ARM offers a fixed rate for 5 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3 percentage points. Caps are 2% annual and 6% lifetime.

Monthly payments do not include escrow for taxes, insurance, or mortgage insurance where applicable. Your payment may be greater. Loan Level Price Adjustments (LLPAs), using the Fannie Mae LLPA chart may be charged at closing based upon certain loan characteristics. When LLPAs apply, your APR will be higher. Appraisal fee collected upon approval of application and non-refundable. Homeowners insurance is required.