Real Estate Loans
Purchasing a home is an exciting and thrilling time for anyone. At Acadia Federal Credit Union we want to make the mortgage process just as thrilling by serving as your guide through the loan process. We know that purchasing a home can be overwhelming and somewhat confusing, but our experienced loan officers can help alleviate frustration by empowering you with knowledge and options. Benefits:
- Competitive Rates
- No application fees or points
- No pre-payment penalties
- Affordable weekly, bi-weekly or monthly payment schedules available
- Fixed rates between 10 – 30 years
- Variable term rates at 1, 3 and 5-year-lock; up to 30 year amortization
- Second home financing available, up to 15 year amortization
- Apply extra payments directly to principle balance of the loan
- Ability to set up recurring payments through AutoPay and/or ACH distribution.
- Access, monitor and make payments to your loan through online and mobile banking
- Loans stay in-house at Acadia FCU (we do not sell them to a secondary market)
- Optional Life & Disability Insurance available
Real Estate Payment Example #1
For a $50,000 home loan for a term of 240 months (20 years) with a 4.00% APR, the monthly payment would be $303.05.
Real Estate Payment Example #2
For a $100,000 home loan for a term of 240 months (20 years) with a 4.00% APR, the monthly payment would be $606.10.
Home Equity Loans
As a homeowner, you already know the joys of owning a home and the repairs, renovations and/or improvements that come along with it. At Acadia Federal Credit Union, we understand that your water heater may need replacing when you have family visiting from out of town or that your outdated kitchen just isn’t up to the challenge of your busy family needs anymore.
- Home Equity Line of Credit – An open line of credit where you can use some or all of the credit limit. Depending on the balance, monthly payments may fluctuate. Many people use this for home repairs, upgrades, renovations, additions, etc.
- Construction Loan – Typically used for new “Stick-Built” or “Pre-Fab” homes, garages, sheds, additions, etc., this loan has flexible financing options for those construction projects at your new or existing home.
- Flex Mortgage – With the flexibility of a Home Equity Line of Credit and the security of a Mortgage, this loan reduces monthly payments, but extends the term up to 20 years. Applicants must have 25% equity in order to be eligible for this type of loan. $100,000 limit
- Fixed Home Equity Loan – This type of loan is typically used for home repairs, renovations, upgrades, etc. but is different than a Home Equity Line of Credit because of its fixed loan amount and fixed payments schedule.