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 months4.250%
121-180 months4.500%
181-240 monthsCall for current rate and availability of Funds
Purchase of primary residence up to $325,000, up to 95% LTV, No Private Mortgage Insurance (PMI), No application fee. Origination fee .50%.
360 months5.250%
Refinance current mortgage of primary residence (other than MSEFCU) up to $325,000, no cash out, up to 90% LTV, No PMI, No application fee. Origination fee .50%. Appraisal required. Minimum payment $125 per month.
360 months5.250%
Up to Conventional loan limit: Purchase of primary residence, up to 80% LTV, No application fee. Origination fee .50%.
360 months4.875%
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 months4.875%
 
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 months5.500%
61-84 months5.750%
85-120 months6.000%
121-180 months6.250%
 
Land or Lot Purchase
Up to 70% LTV, no points, $100 application fee. Appraisal required, minimum payment $125 per month.
1-84 months5.750%
84-120 months6.000%
121-180 months6.250%
 
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%
 
 

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Merced School Employees Federal Credit Union