MVFCU EQUITY LOAN PROGRAMS

MVFCU offers many options for financing your improved owner occupied property for new financing or to extract equity from your existing home. Our In-House real estate programs are fast, flexible and convenient to meet our Member's needs. Membership requirements are easy and the benefits are fantastic!

You will NEVER have a pre-payment penalty on any loan with MVFCU!

New Finance or Home Equity Loan on Home & Land:
Purchase or Refinance, 1st or 2nd lien position: (see Note 1 below)

Increase the interest rate shown above by .75% if your loan will be a 2nd Deed of Trust.
Adjustable Rate Mortgage (ARM) options are available, ask a representative for program details.

Equity Loan on Home & Land
Purchase or Refinance, 1st lien position
Adjustable rate options are also available for a 2nd Deed of Trust Equity loan.  The ARM rates for a 2nd Deed of Trust will be the same as those for our Land Financing program.  

	Owner occupied single family or duplex residential properties are eligible for the Home Equity Line program.
	Home Equity Lines are available for as little as $10,000.00 or up to $200,000.00 of the qualifying equity in your primary residence. The maximum loan amount available for a 1st lien position is $200,000.00 not to exceed 80% of the value and up to $100,000.00 for a 2nd lien position, not to exceed 75% of the value.
	The value of your home may be established by an MVFCU Property Evaluation at no cost under certain circumstances; or if needed by a fee appraisal at cost, ask a representative for details.
	Base Interest rate quoted above assumes a 1st lien position; Add .50% to the base interest rate for 2nd lien position.
	This loan program has a variable interest rate which can be adjusted monthly, ask a representative for details.
	There is no annual fee and no minimum draw amount; fixed rate conversions are also available.

Notes on MVFCU Equity Loans and EquityLine loans:

Note 1: APR for fixed rate Equity loans have been calculated based on the specific loan term, $75,000 refinance loan in 1st mortgage position.  Your actual APR may vary. 

Interest rates on the programs listed above are current as of June 16, 2008. Actual interest rate will be structured based on mortgage or lien position, loan term and the members' credit rating. APR may be higher. Property taxes and insurance will not be included with the loan payment. Loans made within these programs will be serviced by MVFCU. Interest rates and loan terms are subject to change without notice.

We may be able to offer financing on investment or rental property under the category of Commercial or Business Loans.