At UNFCU, we take member’s suggestions and comments seriously and work to find programmes you especially desire or need. As a result of that valuable feedback, these two new programmes are now available for your convenience:
Introducing “InterestFirst,” Your dream house is now more affordable
Looking for your dream home but think you cannot afford it now? Or wanting to buy but think it will tie up more of your funds you would rather use for other expenses or to invest? Well, think again because InterestFirst may be the solution you have needed.
An InterestFirst Mortgage Loan allows you to make lower, interest-only payments during the early years of a fixed-rate mortgage loan, so your payments are reduced to their lowest level.
Just a few of the numerous benefits of InterestFirst:
You may qualify for a larger mortgage loan or you can direct more of your cash flows to pay other expenses or for investing. First-time home buyers, for example, have the choice to consider a higher price range or can save the money to use to furnish their new home.
Relocation or other short-term homebuyers can expand their purchasing power in areas where real estate properties are high. Or use the money they save to invest for higher returns.
For any buyer planning to own for a relatively short period of time, this plan is ideal: low mortgage loan payments and no pre-payment penalties when the home is sold and the loan paid off.
Consult a Mortgage Centre Representative to find out if InterestFirst may fit your needs.
New! Fixed-rate financing available for cooperatives
As you may know, a cooperative — or “co-op” — is a type of real estate ownership in which residents of a multi-unit property own shares of the corporation that owns the property. The ownership of these shares gives the owner the right to occupy a unit in the building. This type of property is especially popular in the New York Tri-state area.
The UNFCU Mortgage Centre is pleased to announce the addition of fixed rate co-op financing* as an alternative to our existing variable rate programme This is an ideal financing option for those who desire the security of knowing exactly what the mortgage payment amount will be each month.
If you are interested in or currently living in a co-op, contact the Mortgage Centre with any questions you may have on fixed-rate financing on a purchase or to re-finance your current ownership.
*Programme has limited availability in the Tri-state area and certain restrictions may apply. Contact the Mortgage Centre for details.
Enjoy Our Low Rates!
3 Year Adjustable Rate Mortgages as low as 5.375%
There are many advantages to Adjustable Rate Mortgages (ARM), one
of which is low rates. And, we just reduced our rate even more. Now
you can enjoy a 5.375% interest rate with a
5.29% APR on a 3-Year
ARM.
Advantages of Adjustable Rate Mortgages
- You will most likely qualify for more money than with a Fixed Rate Mortgage allowing you to purchases a larger home.
- If rates fall there is no need to refinance. An ARM will automatically adjust to the lower rate.
- By saving money with lower payments you will have more money to save and invest.
- If you are expecting a salary increase in the first few years of owning your home, an ARM allows inexpensive financing with the option of locking in a fixed rate down the road when you can afford a higher payment.
Click here to view all rates and terms.
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