1UNFCU paid out a total interest refund amount of approx. 8 million USD to its members from 1989-2009. The interest rebate is calculated based upon year-to-date interest paid on loans by members in good standing.
2The Mortgage Centre offers a variety of Adjustable Rate Mortgage (ARM) loans. The interest rate on an ARM is subject to change at designated intervals. These changes in the rate can raise or lower the monthly mortgage loan payment.
3The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $300,000 and an estimated property value of $400,000. The property is located in New York, NY and is within New York county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.
At a 3.625% interest rate with one point, the APR for this loan type is 3.833%. The monthly payment schedule would be:
- 179 payments of $2,163.11 at an interest rate of 3.625%
- 1 payment of $2,163.12 at an interest rate of 3.625%
If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.
This credit union is federally insured by the National Credit Union Administration (NCUA). Accounts and shares are insured by the Administration to the maximum insurance amount for each member or shareholder. Unless otherwise noted, fees may be associated with certain products and services. Certain UNFCU products and services are subject to approval. Federal and state laws may limit the availability of certain products and services in select areas. Granting credit facilities is prohibited in certain jurisdictions if it leads to the consumer becoming over indebted.
© 2010 UNFCU and ‘serving the people who serve the world’ are registered marks of United Nations Federal Credit Union.
All rights reserved. 06/2010.
