Mortgages
Types of Mortgages Offered
- Traditional Options: Conventional and VA loans up to 100% of the property's value
- Building A Home: Construction-Perm with one time closings
- Gift from Family: 100% mortgages; funds for down payment/closing costs can come from a relative
- Won't be in House Long: 5 or 7 year balloons; get lower initial rate and payments with balloon due at end of term; choose to pay-off balance or refinance at current mortgage rates
- Looking for Lowest Rates: Adjustable Rate Mortgages (ARM) are fixed for first 1, 3, 5, 7, or 10 years, then adjust annually
- Low Payments Up-Front: Rate starts 2% lower 1st year, 1% lower 2nd year; helps ease a homebuyer into higher monthly payments
- Lowest Payments Up-Front: Choose the interest only mortgage for borrowers who expect large jumps in income or appreciation.
- FHA Loans: 3.5% Down Payment offers stability of fixed rate, seller can contribute up to 6% toward closing costs, but cannot be used for down payment. Maximum loan amount is $271,050.
- VA Loans: Veterans Administration loans are offered with 0% down payment, loan amounts up to $417,000
Additional Features
- We use the latest technology for speedy closings
- iLiveFIT! members receive up to $400 off their mortgage closing costs
- We'll lend for investment property, as well as 1 - 4 unit primary residences, second or vacation homes
- No application or origination fees
- Mortgages in Florida or Georgia, primary residences or second homes
Current Rates
Conventional 15-year Mortgage
| Rate | Annual Percentage Rate | Payment per $1000 Borrowed |
|---|---|---|
| 4.5% | 4.375% | $7.66 |
Conventional 30-year Mortgage
| Rate | Annual Percentage Rate | Payment per $1000 Borrowed |
|---|---|---|
| 5.25% | 5.049% | $5.53 |
VA 30-year Mortgage
| Rate | Annual Percentage Rate | Payment per $1000 Borrowed |
|---|---|---|
| 5.25% | 5.147% | $5.53 |
FHA 30-year Mortgage
| Rate | Annual Percentage Rate | Payment per $1000 Borrowed |
|---|---|---|
| 5.25% | 5.443% | $5.53 |
Disclaimer
Rates are updated on the website weekly, but are subsequent to change frequently. Therefore, please contact your mortgage officer for current rates if you are ready to lock. Mortgage lenders, FCCU included, require PMI (private mortgage insurance) with less than 20% down for conventional loans.
