Merced School Employees Federal Credit Union

Merced School Employees Federal Credit Union
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Dividend Rates Term Savings Rates Loan Rates Mortgage Rates

Mortgage Loans
Fixed Rate 1st Mortgage
First mortgage program for purchase or refinance of primary residence, 80% loan to value maximum, no points. $100 application fee**. Appraisal required. Minimum payment $125 per month.
TermAnnual Percentage Rate
1 - 120 months3.75%
121-180 months4.00%
181-240 monthsCall for current rate and availability of Funds
Purchase of primary residence up to $275,000, up to 95% LTV, No Private Mortgage Insurance (PMI), No application fee. Origination fee .50%.
360 months4.75%
Refinance current mortgage of primary residence (other than MSEFCU) up to $275,000, no cash out, up to 90% LTV, No PMI, No application fee. Origination fee .50%. Appraisal required. Minimum payment $125 per month.
360 months4.75%
Up to Conventional loan limit: Purchase of primary residence, up to 80% LTV, No application fee. Origination fee .50%.
360 months4.375%
Up to Conventional loan limit: Refinance current mortgage of primary residence (other than MSEFCU), up to 80% LTV, No application fee. Origination fee .50%.
360 months4.375%
 
Fixed Rate 2nd Mortgage
Refinance or home equity purposes for primary residence, up to 80% LTV, no points, $100 application fee. Appraisal required, minimum payment $125 per month.
1-60 months5.250%
61-84 months5.500%
85-120 months5.750%
121-180 months6.000%
 
Land or Lot Purchase
Up to 70% LTV, no points, $100 application fee. Appraisal required, minimum payment $125 per month.
1-84 months5.250%
84-120 months5.500%
121-180 months5.750%
 
Home Equity Line of Credit
Revolving credit line secured by primary residence, variable rate mortgage, up to 80% LTV, $100,000 maximum loan amount, no points, $100 application fee**. Minimum payment $100 based on a tiered payment schedule. No annual fee. Federal Discount rate index with a margin of 2.5%, maximum change 1% per year. Minimum interest rate 6%. Appraisal required.
5 year call dateARM/Federal Discount Rate plus 2.50%
 
Construction Loan
Fixed rate, interest only loan for the purpose of building primary residence, may include land purchase, up to 80% LTV, not to exceed cost to build, appraisal required, no points, $100 application fee**, $350 processing fee**. Special live-in plan***.
12 month building agreement10.75%
SPECIAL NOTES: MSEFCU deed loans are available only on primary residential property or vacation home located within Merced and Mariposa Counties, or located within 150 road miles from the Merced office. Closing costs determined by loan amount and may range from $1,500 to $5,000. **Non-refundable fee.***Extended payment schedules available; see your loan officer. MSEFCU mortgage loans that are a fixed rate/balloon that are being refinanced, for non-owner occupied the rate is .25% higher. Read the HELOC Program Disclosure here. The Credit Union reserves the right to add, change or delete services, and all rates are subject to change without notice. Board Action 2/28/17
 

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More information on our products, services or feedback on our Web site | Phone: 209-383-5550 or 800-542-2345 | Fax: 209-383-2308 | Email Us


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Merced School Employees Federal Credit Union