Loan Products
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FIXED RATE MORTGAGE
RATE FIXED FOR THE ENTIRE TERM.
Terms of a Fixed Fixed Rate Mortgage
10 - 30 years
Why Choose an Fixed-Rate Mortgage
* Predictable Payments
* Stability in a changing market
* Peace of mind
* Long-term security
* No rate adjustments
* Simple to understand
* Great for budgeting
* Ideal for long-term homeowners
ADJUSTABLE-RATE MORTGAGES
A LOWER INTEREST RATE FOR A SMART START OF YOUR MORTGAGE.
Adjustable-rate mortgage (ARMs) offer interest rates that are fixed for an initiaL period of 1, 2, 3, 5, 7, or 10 years. Rates are than adjusted based on an index, plus a margin. Interest rates during the initial term are typically low, resulting in lower monthly payments.
ARMs are commonly designed as follows:
1. The number of years during which the interest rate is fixed
2. The interval at which rates are adjusted after the initial period
For example, a 5/1 ARM would mean that the loan's first five years are at a fixed rate, and the rate is readjusted every year thereafter.
Types of ARM Loans Offered by American Broadcast Employees Federal Credit Union
* 1/1 ARM
* 2/1 ARM
* 3/1 ARM
* 5/1 ARM
* 7/1 ARM
* You are purchasing a house as a short-term and plan to sell within a certain period of time.
* You are expecting interest rates to decrease in the coming years.
All rates are subject to change without notice.
Membership at American Broadcast Employees Federal Credit Union (ABEFCU) is required by opening a minimum $5.00 Basic Share account. Applicants must meet the loan program requirements, loan to value restrictions may apply. All loans are subjecty to credit and underwriting approval, certain fees and restrictions may apply. ABEFCU does not offer mortgages on commercial or investment properties.
FIXED RATE MORTGAGE
RATE FIXED FOR THE ENTIRE TERM.
Terms of a Fixed Fixed Rate Mortgage
10 - 30 years
Why Choose an Fixed-Rate Mortgage
* Predictable Payments
* Stability in a changing market
* Peace of mind
* Long-term security
* No rate adjustments
* Simple to understand
* Great for budgeting
* Ideal for long-term homeowners
ADJUSTABLE-RATE MORTGAGES
A LOWER INTEREST RATE FOR A SMART START OF YOUR MORTGAGE.
Adjustable-rate mortgage (ARMs) offer interest rates that are fixed for an initiaL period of 1, 2, 3, 5, 7, or 10 years. Rates are than adjusted based on an index, plus a margin. Interest rates during the initial term are typically low, resulting in lower monthly payments.
ARMs are commonly designed as follows:
1. The number of years during which the interest rate is fixed
2. The interval at which rates are adjusted after the initial period
For example, a 5/1 ARM would mean that the loan's first five years are at a fixed rate, and the rate is readjusted every year thereafter.
Types of ARM Loans Offered by American Broadcast Employees Federal Credit Union
* 1/1 ARM
* 2/1 ARM
* 3/1 ARM
* 5/1 ARM
* 7/1 ARM
Why Choose an Adjustable-Rate Mortgage
* You are looking for a lower monthly payment for the initial years of your mortgage.* You are purchasing a house as a short-term and plan to sell within a certain period of time.
* You are expecting interest rates to decrease in the coming years.
All rates are subject to change without notice.
Membership at American Broadcast Employees Federal Credit Union (ABEFCU) is required by opening a minimum $5.00 Basic Share account. Applicants must meet the loan program requirements, loan to value restrictions may apply. All loans are subjecty to credit and underwriting approval, certain fees and restrictions may apply. ABEFCU does not offer mortgages on commercial or investment properties.
- 1/1 ADJUSTABLE-RATE MORTGAGE
- 1/1 JUMBO ADJUSTABLE-RATE MORTGAGE
- 2/1 ADJUSTABLE-RATE MORTGAGE
- 2/1 JUMBO ADJUSTABLE-RATE MORTGAGE
- 3/1 ADJUSTABLE-RATE MORTGAGE
- 3/1 JUMBO ADJUSTABLE-RATE MORTGAGE
- 5/1 ADJUSTABLE-RATE MORTGAGE
- 5/1 JUMBO ADJUSTABLE-RATE MORTGAGE
- FIXED RATE MORTGAGE