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Mortgage Rates

Merced School Employees Federal Credit Union
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Fixed Rate 1st Mortgages

First mortgage for purchase or refinance of primary residence, up to 80% LTV, $100 application fee, no points, minimum payment $125 per month, appraisal required**, credit report fee**.
 
Term Annual Percentage Rate
1 - 180 Months 5.625%
181 - 240 Months 5.875%

30 Year Fixed Rate
Up to Conventional loan limit: Purchase of primary residence, up to 80% LTV, origination fee .50%, no application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
360 Months 6.000%
Up to Conventional loan limit: Refinance current mortgage of primary residence (other than MSEFCU), up to 80% LTV, origination fee .50%, no application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
360 Months 6.000%
Purchase of primary residence up to $375,000, up to 95% LTV, No Private Mortgage Insurance (PMI), origination fee .50%, no application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
360 Months 6.625%
Refinance current mortgage of primary residence (other than MSEFCU) up to $375,000, no cash out, up to 90% LTV, No PMI, origination fee .50%, no application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
360 Months 6.625%

Fixed Rate 2nd Mortgage

Refinance or home equity purposes for primary residence, up to 80% LTV, no points, $100 application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
1 - 60 Months
6.000%
61 - 84 Months 
6.250%
85 - 120 Months 6.750%
121 - 180 Months 7.000%

Non-Owner Occupied 1st Mortgage
 
Up to 70% LTV, no application fee, origination fee 1%
 
Term Annual Percentage Rate
Up to 360 months
Call for current rate & availability

Land or Lot Purchase
 
Up to 70% LTV, no points, $100 application fee, no application fee, minimum payment $125 per month, appraisal required**, credit report fee**.

Term Annual Percentage Rate
1 - 84 Months
8.250%
85 - 120 Months 
8.500%
121 - 180 Months 8.750%

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, $500 application fee**, $1,500 processing fee**.

Term Annual Percentage Rate
12 month building agreement
10.750%

Home Equity Line of Credit (HELOC)

Revolving credit line secured by primary residence, variable rate mortgage, up to 80% LTV, $100,000 maximum loan amount, no points, $300 application fee . Minimum payment $100 based on a tiered payment schedule. No annual fee. Federal Discount rate index with a margin of 2.00%, maximum change 1% per year. Minimum interest rate 4%. Appraisal required**. Credit report fee**.

Term Annual Percentage Rate
10 Year Call Date
Variable Rate/Federal Discount Rate plus 2.00%

SPECIAL NOTES: MSEFCU deed loans are available on primary residential property home located within the State of California. MSEFCU deed loans on owner-occupied borrowing 80% or more or non-owner occupied must be located within 150 road miles from the Main Branch. 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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