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Mortgages |
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Holy Rosary Credit Union has an easy way for you to apply for a mortgage on-line. Mortgage Express is an on-line mortgage application program that provides a lending answer within a very short period of time. Applying for a mortgage, re-financing your home, and applying for a home equity loan or line of credit has never been easier. Mortgage Express gives you the ability to apply on-line, from anywhere and at any time. This program takes convenience one step further with a 10-question application that provides an answer within minutes rather than days.
Click here to see our rates!
For most of us, our home is the biggest single investment we'll ever make. Finding the one that fits your needs and your income can be a challenge, but finding the right mortgage can be even more challenging. HRCU mortgages with affordable 10, 15, 20 and 30 year terms, and highly competitive fixed and adjustable interest rates can help you save time and money.
- Great rates
- Flexible terms to meet your needs and budget
- Low closing costs
- Real Estate loans with LTVs higher than 80% require private mortgage insurance
- Flexible programs
- Local servicing
Did you know that you can save thousands of dollars on an adjustable rate mortgage just in the first few years? Or that a three- or five-year adjustable can give you money in your pocket?
Click here to learn more.
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| Find out how our special variable rate loan can work for you. Click here |
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Effective Date: 3/12/10
Program |
Term* |
Rate %
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Origination Points % |
APR*** |
First Mortgage Single Family-
Fixed Rate - 95% Maximum on Purchases and 80% on Refinancing
(Not available for construction loans)
Fixed Rates subject to change daily & expire at the close of business daily |
30 yrs (95% LTV) |
5.375% |
0 |
5.470 |
First Mortgage Single Family-
Fixed Rate - 95% Maximum on Purchases and 80% on Refinancing
(Not available for construction loans)
Fixed Rates subject to change daily & expire at the close of business daily |
20 yrs (95% LTV) |
5.125% |
0 |
5.252 |
First Mortgage Single Family-
Fixed Rate - 95% Maximum on Purchases and 80% on Refinancing
(Not available for construction loans)
Fixed Rates subject to change daily & expire at the close of business daily |
15 yrs (95% LTV) |
4.625% |
0 |
4.784 |
First Mortgage Single Family-
Fixed Rate - 95% Maximum on Purchases and 80% on Refinancing
(Not available for construction loans)
Fixed Rates subject to change daily & expire at the close of business daily |
10 yrs (95% LTV) |
4.625% |
0 |
4.853 |
Adjustable Rate Mortgages
(Includes New Construction up to 80% LTV)****
Maximum Financing 80% LTV |
3/3 yr.
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4.750%
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1
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3.767 |
Adjustable Rate Mortgages
(Includes New Construction up to 80% LTV)****
Maximum Financing 80% LTV |
5/5 yr. |
4.875% |
1 |
4.627 |
Land
Must apply in person
20 yr amortization |
10 yr balloon |
7.50% |
1 |
7.775 |
Refinance Options are available for
both fixed rate mortgages and
adjustable rate mortgages |
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Call us at 332-6840 for
rates and terms
available for refinancing |
Example: 30 year fixed rate program with 2 points; the rate would be 5.875%. Based on a purchase price of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 monthly payments of approximately $591.53 (principal and interest), a finance charge of $112,951.00, bringing the total payment to $212,951.00.
APPLY ON-LINE NOW! - click here
How paying your loan weekly or biweekly can save you money and payment time:
Holy Rosary Credit Union allows you to make payments on most loans whenever you want. (There are some mortgages that are exceptions.) If you take advantage of that feature, you can save yourself time and money.
It's very simple: take your monthly payment amount and divide it by four. Then make your payments weekly or divide by two and make them bi-weekly. This way you will make an extra two payments per year. It doesn't seem like much, but you will pay off a five-year car loan in a little over 4 years. With a mortgage the payoff becomes huge!
Example: $100,000 - 30 year loan
Fixed rate mortgage paid monthly:
At 6.5% paid conventionally, at the end of 30 years you will have paid $127,542.98 in interest.
HRCU Adjustable Rate paid bi-weekly:
For a mortgage written for 30 years at 7% (0.5% higher!) you will pay $105,048.28 in interest….a savings of $22,494.70! And you will pay off the mortgage six years earlier!
So come see us for your next loan and save money and time.
The rate changes every 3 or 5 years. Depending on the current rate at the time of change, your rate can go up or down. There is a cap on how much your rate can rise each time and all together.
In a fixed rate loan, the interest rate of your mortgage stays the same over the term of the note.
Are Fixed Rate Mortgages over rated?
We understand why you are looking for a fixed rate mortgage. You want to know how much you are going to be spending each month. But here are some things to think about when you get our special HRCU variable rate loan.
- Yes rates go up, but they also go down and when they do, you benefit without having to refinance.
- Variable rates are usually lower than the current fixed rate. You can benefit from a lower payment and/or build up more equity.
- HRCU Variable Rate Mortgages can be paid monthly or weekly. This can be a huge benefit. Click here to learn more.
- We keep our variable rate mortgages in-house, you will be talking to us not someone in North Dakota or Bangladesh.
- APR equals the annual percentage rate.
- Example: 30 year fixed rate program with 2 points; the rate would be 5.875%. Based on a purchase price of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 monthly payments of approximately $591.53 (principal and interest), a finance charge of $112,951.00, bringing the total payment to $212,951.00.
- The APR may increase after consummation of the loan.
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Our staff is knowledgeable about the ups and downs of building your own house. It's easy to talk to us. We'll help you make the process a snap.
Holy Rosary Credit Union has an easy-to-use construction loan which offers:
- Loans of up to 80% of the value of the completed house
- Quick approval
- One closing
- Interest-only payments for up to 9 months
- Low rates
Many other financial institutions don't offer much if you'd like to buy a piece of land. Our quick and easy loan is the solution.
- 80% of the appraised value or purchase price, whichever is less
- Up to a 10-year term
- Low fixed rates
Holy Rosary Credit Union has set aside a store of funds for our members who want to purchase a mobile home within a park. (Double wide mobile homes 15 years old & younger on their own land are considered homes under the "first mortgage" rates.) Come in and see us before you start looking. Click here to see our rates.
 Apply for a loan anytime, 24 hours a day.
Just call Phone-A-Loan at (603) 330-0005 or toll free at
(888) 270-6959 and talk to a real live person.
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Mortgages
Mortgage Express
