Loans For Closed-End, Second Mortgages
Get started on a better mortgage experience with Long Beach City Employees FCU
Here are loan programs we offer for properties with an existing primary lien. These programs are unique to Long Beach City Employees Federal Credit Union. To learn more about these programs and many others, call us at 562-595-4725 Ext. 2096.
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Equity Loan Program* |
Fixed Rate (%) as Low as |
APRs** (%) as Low as |
|
Maximum Loan |
Estimated Payment*** |
Maximum CLTV |
7 Year Amortization |
6.125% |
6.801% |
|
$250,000 |
$733.63 |
80% |
10 Year Amortization |
6.625% |
7.122% |
|
$250,000 |
$571.12 |
80% |
15 Year Amortization |
7.125% |
7.485% |
|
$250,000 |
$453.12 |
80% |
20 Year Amortization |
7.500% |
7.795% |
|
$250,000 |
$403.02 |
80% |
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*Closed-end Home Equity Loan
** APR = Annual Percentage Rate.
APRs and rates listed are our best rates based upon creditworthiness and the disclosed Combined Loan-to-Value (CLTV); Applicant's rate may be higher depending on credit rating, CLTV, and other underwriting factors. Applicant to pay all fees on fixed-rate second mortgages. APRs are estimated.
*** Payment amounts are calculated using a $50,000 loan amount and a monthly repayment schedule. APR will vary based on final loan amount, closing cost and finance charges. PMI is not required. Minimum loan amount is $30,000; maximum is $250,000. Loan proceeds are disbursed at one time. No pre-payment penalties. Available only to members residing in California and on member
primary residences (Owner occupied, single-family, condos, townhomes or 1-4 units) Rates listed apply only in certain conditions. Loan rates depend on several factors/assumptions. A loan's final rate will depend on financial market conditions, specific characteristics of the loan transaction and applicant's credit profile up to the time of closing. Rates subject to change without notice.
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