Loan Rates

Important Information:
Rates and Annual Percentage Rates (APRs) are based on a $100,000 loan, 30-year term, 20% down payment (or equity), and 15 days prepaid interest. APR will vary based on final loan amount and finance charges.

Rates are subject to change without notice.

Payments do not include real estate taxes or insurance premiums. Actual payments may be higher.

Loans are available for purchase or refinance of owner-occupied 1–4 family properties. Maximum loan amount is $806,500.

Private Mortgage Insurance (PMI) is required for loans with less than 20% equity.

Property insurance is required. Flood insurance may be required where applicable.

Fixed-rate loans may be sold on the secondary market and must meet investor guidelines.

Adjustable-Rate Mortgage (ARM) Disclosure

The interest rates and Annual Percentage Rates (APR) shown above are based on the initial rate period and may adjust after consummation.

For example:

• A 5/1 ARM has an initial fixed rate of 5.500% for the first 60 months, after which the rate adjusts annually based on the index and margin (currently 2.875% margin).
• A 7/1 ARM has an initial fixed rate of 5.750% for the first 84 months, after which the rate adjusts annually.
• A 5/5 ARM has an initial fixed rate of 4.990% for the first 60 months, with adjustments every 5 years thereafter.

After the initial fixed-rate period, the interest rate will adjust based on the index and margin and may increase or decrease, subject to the rate caps disclosed above (2% initial adjustment, 2% periodic adjustment, and 6% lifetime cap).

Monthly payment amounts are based on the initial rate and may increase after the first adjustment period.

Additional Mortgage Disclosures

Rates are subject to change at any time and may increase.

Rates and APRs are based on a $100,000 loan, 30-year term, 20% equity/down payment, and 15 days prepaid interest for purchase and refinance transactions.

Loans are available for owner-occupied 1–4 family properties.

Loans with loan-to-value ratios greater than 80% require Private Mortgage Insurance (PMI). Cash-out refinances are not permitted above 80% loan-to-value for ARM products.

APR = Annual Percentage Rate.

Payments do not include taxes or insurance. Actual payments may be higher.

Payment Disclosure:
Payment examples are for illustrative purposes only and are based on the stated rate and term. Actual payments may vary based on loan amount, creditworthiness, and other factors.

Loan Terms & Requirements

• Minimum Loan Amount: $5,000
• Maximum Loan Amount: $250,000
• Maximum Combined Loan-to-Value (CLTV): 80%

Important Information

• Property insurance is required. Flood insurance may be required where applicable.
• First position lien home equity loans require lender’s title insurance, which must be paid by the member at closing.

Loan Disclosures

All loans are subject to credit approval. Rates, terms, and conditions are subject to change without notice. Annual Percentage Rate (APR) reflects the cost of credit over the term of the loan.

Interest Rate / Annual Percentage Rate (APR):
The interest rate and Annual Percentage Rate (APR) are variable and currently 6.75%, based on the highest Prime Rate published in the Wall Street Journal on the last business day of the month. The rate may change monthly based on changes in the Prime Rate.

Loan Terms:

• Minimum Loan Amount: $10,000
• Maximum Loan Amount: $250,000
• Term: 10-year draw period followed by a 10-year repayment period
• Maximum Combined Loan-to-Value (CLTV): 80%
• Investment and Secondary Homes: Prime + 1%, maximum 75% CLTV

Important Information:

• Property insurance is required. Flood insurance may be required where applicable.
• This is a variable-rate product and the APR may increase after account opening.
• The maximum APR that can be imposed is 18%.First position lien HELOCs require lender’s title insurance, which must be paid by the member at closing.

Prepayment Penalty:
If the line of credit is paid off and closed within the first 36 months, a $350 prepayment penalty will apply. This fee is waived if the loan is refinanced with Alden Credit Union.

Loan Disclosures:
All loans are subject to credit approval. Rates, terms, and conditions are subject to change without notice. Annual Percentage Rate (APR) reflects the cost of credit over the term of the loan. Payment examples, if provided, are for illustrative purposes only and may not reflect actual loan terms.

Property insurance is required. Flood insurance may be required where applicable.

Home equity lines of credit are variable-rate products and rates may increase after account opening.

* Due to market fluctuations programs, rates and terms and conditions are subject to change without notice.