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| | First Mortgages - Current Rates
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| | Conforming Fixed Rate & Adjustable Rate Mortgage Loans
Maximum loan amounts to $417,000
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| | Long term loans to finance the purchase or refinance of a single-family primary residence, vacation home or investment property. We also lend on 2 to 4 family units on principal residences and investment properties. These loans can also be used to make home improvements or to consolidate bills.
Please feel free to contact us at (661) 833-7926 for more information, or click the "Get Started Now" button below to apply online. | |
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- 10, 15, 20, 30, & 40 year fixed rates. Interest rate
and payment amount is fixed for the life of the loan.
- Adjustable Rate Mortgages (ARM) - Amortized over 30 or 40 years. 5/1 ARM program available. Fixed period ARMs are tied to the one-year Treasury Securities Index.
- Mortgage loans for purchases, "cash out" and "no cash out" refinances are available. "Cash-Out" loans up to 85% of the appraised value.
- Mortgage loans are available up to 95% of the property value (property value is the
appraised value of the home or the purchase price, whichever is less). Maximum financing dependent upon location of home. Private Mortgage
Insurance is required on any loan over 80% of the property value.
- Upon underwriting approval, a non-refundable application fee of $100.00 will be collected.
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| To check primary residence or vacation home rates |  | | To check rental or investment property rates | | | |
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If you’re not already a Kern Schools Federal Credit Union member, you can now join online - just click the “Join Now” button below.
Jumbo and Super Jumbo Adjustable Rate Mortgage Loans
Jumbo loan amounts from $417,001 to $750,000
Super Jumbo loan amounts from $750,001 to $1,000,000 | |
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| | Long term loans to finance the purchase or refinance of a single-family primary residence or a 2nd/Vacation Home. These loans can also be used to make home improvements or to consolidate bills. | |
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| | Please feel free to contact us at (661) 833-7926 for more information, or click the "Get Started Now" button below to apply online.
- Adjustable Rate Mortgages (ARM) - Amortized over 30 years. 5/1 ARM program available. Fixed period ARMs are tied to the one-year Treasury Securities Index.
- Mortgage loans for purchases, "cash out" and "no cash out" refinances are available. "Cash-Out" loans up to 70% of the appraised value.
- Mortgage loans are available up to 80% of the property value (property value is the
appraised value of the home or the purchase price, whichever is less). Maximum financing dependent upon location of home.
- Upon underwriting approval, a non-refundable application fee of $100.00 will be collected.
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Rate and Payment Details
Below are the details of the Rate and Payment that will apply over the term of the loan. The payments listed below do not include amounts for taxes and insurance. If the Loan is an Adjustable Rate Loan, a current reasonable Index and Margin were used to display potential future Rate and/or Payment changes. If the Loan is a Home Equity Line of Credit (HELOC) the payments shown below are calculated using the full loan amount.
Initial Interest Rate: On a Fixed rate loan, it is the rate for the entire life of the loan. On an Adjustable Rate Loan it is the interest rate that is fixed for some specified number of months at the beginning of the loan term.
APR: Annual Percentage Rate is the rate that reflects the actual annual cost of a loan and includes the loan interest rate, private mortgage insurance, points and some fees.
Fully Indexed Rate: The current index value plus the margin on an Adjustable Rate Loan.
Max Interest Rate: The maximum rate that may occur on your Adjustable Rate Loan.
Months to First Rate Adjustment: The period of time before your interest rate will adjust on an Adjustable Rate Loan.
Interest Only Term: The period of time where the monthly mortgage payment consists of interest only. During that period, the loan balance remains unchanged.
Based on a loan amount of $200,000
Loan-to-value 67% | |
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| | 5/1 Conf ARM 30 Year: | |
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| Initial Interest Rate | APR | Fully Indexed Rate | Maximum Interest Rate | Months to First Rate Adjustment | Interest Only Term | | 3.125 | 2.826 | 2.54 | 8.125 | 60 Months | 0 Months | | |
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| | Payment Stream: | |
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| Payment Month(s) | Monthly Mortgage (P & I) | Rate | | 1-60 | 856.75 | 3.125 | | 61-359 | 803.10 | 2.54 | | 360 | 803.22 | 2.54 | | |
