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Products

We offer a variety of mortgage loans with competitive rates and fees.


HOME PURCHASE

 

  • Qualified applicants* may finance up to 95% of the appraised value or sales price, whichever is less.

HOME REFINANCE

 

  • Qualified applicants* may refinance up to 95% of the appraised value.

 

  • Closing fees may be added to the principal balance of the mortgage (not to exceed 95% loan to value).

HOME EQUITY

 

  • Qualified applicants* may finance up to 80% of the value of the home less any first lien mortgage.

 

  • Funds are disbursed directly to the member, less any payoffs required.

 

  • There are minimal closing fees.

LAND PURCHASE

 

  • Qualified applicants* may finance up to 80% of the appraised value or sales price, whichever is less.

CONSTRUCTION TO PERM

 

  • Qualified applicants* may finance up to 95% of the appraised value or acquisition cost, whichever is less.

 

  • Interim period is 6 months.

 

  • Interest rate of 7% is applied on draws taken during the interim phase.

 

All loans serviced through Mobiloil Credit Union. Rates are determined by credit rating and term.

*Applicants are qualified in accordance with Federal, State and NCUA laws as well as the provisions of the Fair Credit Reporting Act.

 

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Confused about which program to choose or need personal assistance? We offer a variety of loan options to choose from including fixed rate mortgages. We offer easy to understand explanations of each program on the site and a Mortgage Originator is always just a call (800-892-1111)  or e-mail away!  mortgageloanoriginators@mofcu.org