If you’re interested in purchasing, building or refinancing a home, ask about our Real Estate Loans First! With great rates, flexible terms, generous loan amounts, local decisions and service, and a complete line of mortgage products, First Source FCU is your source for home financing.



Through an alliance with MORPAC, the MORtgage Processing Assistance Center, First Source FCU is able to offer an extensive array of mortgage products at competitive rates.

Options include:
	Fixed and Variable rates		No Income Verification Mortgages
	FHA and VA Loans		Investment Properties
	Rate Float Downs (even after the rate has been locked)		Low Down Payment (97% financing)
	Construction Loans (free 180 rate lock)		Non-Conforming Loans (for those with damaged credit)

Use the value in your home to finance a college education, take a vacation, remodel, consolidate bills, or just about anything for which you need quick, affordable credit. First Source FCU offers both Fixed and Variable Rate Home Equities to meet your individual financing needs.

If you’re in need of quick cash for a specific purpose and know exactly how much you need, this is the product for you. A Fixed Home Equity, or second mortgage, provides you with a set amount of money repayable over a set period of time at a competitive, fixed interest rate.

Features available:
	No application fees
	Terms up to 15 years
	*No Closing Costs
	Loan amounts up to 100% of the appraised value of your home (less outstanding mortgages)

Benefits include:
	Competitive rates
	*No Closing Costs
	Possible tax deductions – consult your tax advisor
	Fixed monthly payment

If you like the flexibility of being able to access your funds whenever you need them, a Home Equity Line of Credit is the product for you. A Home Equity Line of Credit is a revolving credit line based upon the appraised value of your home and the balance owed on the existing mortgage. Funds are paid back to the Credit Union using a variable interest rate based upon the current Prime Rate as published in the Wall Street Journal plus a margin.

Features available:
	No application fee
	Up to three 5-year draw periods
	Interest only payments required during draw periods
	Repayment terms up to 15 years
	*No Closing Costs
	Loan amounts up to 100% of the appraised value of your home (less outstanding mortgages)

Benefits include:
	Low Introductory Rate
	Flexible payment terms
	*No closing costs
	Possible tax deductions -consult your tax advisor
	24 hour check access to your funds during the draw period up to your credit limit
	*If the Line of Credit is closed within 3 years of the opening date, reimibursement for certain fees paid to third parties is required. These fees can be as low as $386 for a $25,000 loan or $761 for a $100,000 loan. Membership eligibility is required.

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