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Merced School Employees Federal Credit Union Homepage

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Mortgage Rates

Merced School Employees Federal Credit Union
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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.
 
Term Annual Percentage Rate
1 - 120 Months 4.500%
121 - 180 Months 4.750%
181 - 240 Months Call for Current Rate and Availability of Funds

30 Year Fixed Rate

Purchase of primary residence up to $325,000, up to 95% LTV, No Private Mortgage Insurance (PMI), No application fee. Origination fee .50%. Appraisal required. Minimum payment $125 per month.
 
Term Annual Percentage Rate
360 Months 5.500%
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.
 
Term Annual Percentage Rate
360 Months 5.500%
Up to Conventional loan limit: Purchase of primary residence, up to 80% LTV, No application fee. Origination fee .50%. Appraisal required. Minimum payment $125 per month.
 
Term Annual Percentage Rate
360 Months 5.125%
Up to Conventional loan limit: Refinance current mortgage of primary residence (other than MSEFCU), up to 80% LTV, No application fee. Origination fee .50%. Appraisal required. Minimum payment $125 per month.
 
Term Annual Percentage Rate
360 Months 5.125%

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.


Term Annual Percentage Rate
1 - 60 Months
5.750%
61 - 84 Months 
6.000%
85 - 120 Months 6.250%
121 - 180 Months 6.500%

Land or Lot Purchase
Up to 70% LTV, no points, $100 application fee**. Appraisal required, minimum payment $125 per month.
 
Term Annual Percentage Rate
1 - 84 Months
6.000%
85 - 120 Months 
6.250%
121 - 180 Months 6.500%

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.
 
Term Annual Percentage Rate
5 Year Call Date
ARM/Federal Discount Rate plus 2.50%

SPECIAL NOTES: MSEFCU deed loans are available only on primary residential property 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. To read the HELOC program disclosure click here or contact our office at 209-383-5550 x181 to have one mailed to you. The Credit Union reserves the right to add, change or delete services, and all rates are subject to change without notice.
 
 

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