Electro Savings Credit Union
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Electro Savings Credit Union offers a variety of loan programs to meet your needs.
 
10 Year Fixed
15 Year Fixed
20 Year Fixed
30 Year Fixed
3/1 Adjustable Rate Mortgage (ARM)
5/1 Adjustable Rate Mortgage (ARM)
7/1 Adjustable Rate Mortgage (ARM)
10/1 Adjustable Rate Mortgage (ARM)
Jumbo Loan
FHA Loan
VA Loan
USDA Loan

10 Year Fixed
A fixed-rate mortgage is a type of mortgage characterized by an interest rate which does not change over the life of the loan.

Term: 10 years   Maximum Amount: $417,000
RatesAPRPoints
3.55%3.65%0%

15 Year Fixed
A fixed-rate mortgage is a type of mortgage characterized by an interest rate which does not change over the life of the loan.

Term: 15 years   Maximum Amount: $417,000
RatesAPRPoints
3.675%3.744%0%

20 Year Fixed
A fixed-rate mortgage is a type of mortgage characterized by an interest rate which does not change over the life of the loan.

Term: 20 years   Maximum Amount: $417,000
RatesAPRPoints
3.8%3.854%0%
 
The 20 year fixed rate mortgage is a good way to have fixed payments and shorten the term of your loan. You will build equity faster, pay less interest, and own your home sooner. Your monthly payments will be higher since the term is shorter.

30 Year Fixed
A fixed-rate mortgage is a type of mortgage characterized by an interest rate which does not change over the life of the loan.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
4.3%4.34%0%

3/1 Adjustable Rate Mortgage (ARM)
A 3 Year ARM is a loan with a fixed rate for the first three years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first three years, the monthly payment may also change. The monthly payment is based on a 30 year (360 month) amortization.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.125%3.888%0%

5/1 Adjustable Rate Mortgage (ARM)
A 5 Year ARM is a loan with a fixed rate for the first three years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first three years, the monthly payment may also change. The monthly payment is based on a 30 year (360 month) amortization.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.25%3.932%0%

7/1 Adjustable Rate Mortgage (ARM)
A 7 Year ARM is a loan with a fixed rate for the first three years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first three years, the monthly payment may also change. The monthly payment is based on a 30 year (360 month) amortization.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.5%4.02%0%

10/1 Adjustable Rate Mortgage (ARM)
A 10 Year ARM is a loan with a fixed rate for the first three years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first three years, the monthly payment may also change. The monthly payment is based on a 30 year (360 month) amortization.

Term: 30 years   Maximum Amount: $417,000
RatesAPRPoints
3.75%4.109%0%

Jumbo Loan
Electro Savings Credit Union does not mark up our rate on Jumbo Loans, like most other lenders.This means you get the same low rate for loans $424,100 and greater.

FHA Loan
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). FHA loans are popular with borrowers because of their lower down payment requirements, less stringent lending standards and lower rates.

VA Loan
VA loans are home loans for the purchase or refinance of a primary residence available to members who have served or are presently serving in the U.S. Military. You may be eligible if you are active duty, a veteran, in the reserves or national guard or a possibly a surviving spouse. Some features of the product are 0% down on purchases, no mortgage insurance, low rates, prepay with not penalties, cash out up to 90% of the value of your home, and many more benefits.

USDA Loan
USDA loans are designed for purchase of a primary residence in a rural area. The program allows for 100% financing on a 30-year fixed loan as long as the property is located in a qualifying rural area.


FLOOR RATE ON ALL ARMS is the lower of the start rate or 3.500%. MAX RATE ON ALL ARMS is 5.00% above the start rate.

Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $1,958. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $424,101 with closing costs of $8,482. Your actual APR may be different depending upon these factors.