MCU: New York's Credit Union Since 1916
Rates
Mortgage Rates
- Fixed Rate Mortgages
- Adjustable Rate Mortgages ( ARMs )
- Jumbo Fixed Rate Mortgages
- Home Equity Line Of Credit (HELOC)
- MyCommunity 95 Mortgage Program
- Flex 95 Rate Mortgages
| Points | Rate | APR | Monthly Payment Per $1,000 Borrowed |
|---|---|---|---|
| 10 Year Term - 120 Payments | |||
| 2 | 4.500% | 4.937% | $10.36 |
| 1 | 4.750% | 5.037% | $10.48 |
| 0 | 5.000% | 5.137% | $10.61 |
| 15 Year Term - 180 Payments | |||
| 2 | 4.500% | 4.937% | $7.65 |
| 1 | 4.750% | 5.037% | $7.78 |
| 0 | 5.000% | 5.137% | $7.91 |
| 20 Year Term - 240 Payments | |||
| 2 | 4.750% | 5.075% | $6.46 |
| 1 | 5.000% | 5.206% | $6.60 |
| 0 | 5.250% | 5.339% | $6.74 |
| 25 Year Term - 300 Payments | |||
| 2 | 4.750% | 5.131% | $5.70 |
| 1 | 5.000% | 5.284% | $5.85 |
| 0 | 5.250% | 5.437% | $5.99 |
| 30 Year Term - 360 Payments | |||
| 2 | 4.750% | 5.118% | $5.22 |
| 1 | 5.000% | 5.286% | $5.37 |
| 0 | 5.250% | 5.453% | $5.52 |
|
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE
(PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF
THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.
Above APRs are based on loan amounts of $200,000. Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates and terms are subject to change without notice. |
| 1 YEAR ARM (30 YEAR TERM) | |||||
| Points | Initial Rate (not based on index and margin used to make later adjustments) | Current Rate (based on index and margin) | APR | Monthly Payment Per $1,000 Borrowed for first 12 payments based on Initial Rate | Monthly Payment Per $1,000 Borrowed for remaining 348 payments based on Current Rate* |
|---|---|---|---|---|---|
| 2 | 4.000% | 2.500% | 6.838% | $4.77 | $4.04 |
| 1 | 4.250% | 2.750% | 6.789% | $4.92 | $4.17 |
| 0 | 4.500% | 3.000% | 6.739% | $5.07 | $4.31 |
3/1 ARM (30 YEAR TERM) | |||||
| Points | Initial Rate (not based on index and margin used to make later adjustments) | Current Rate (based on index and margin) | APR | Monthly Payment Per $1,000 Borrowed for first 36 payments based on Initial Rate | Monthly Payment Per $1,000 Borrowed for remaining 324 payments based on Current Rate* |
| 2 | 4.000% | 2.500% | 6.379% | $4.77 | $4.25 |
| 1 | 4.250% | 2.750% | 6.373% | $4.92 | $4.38 |
| 0 | 4.500% | 3.000% | 6.366% | $5.07 | $4.51 |
5/1 ARM (30 YEAR TERM) | |||||
| Points | Initial Rate (not based on index and margin used to make later adjustments) | Current Rate (based on index and margin) | APR | Monthly Payment Per $1,000 Borrowed for first 60 payments based on Initial Rate | Monthly Payment Per $1,000 Borrowed for remaining 300 payments based on Current Rate* |
| 2 | 4.500% | 2.500% | 6.327% | $5.07 | $4.49 |
| 1 | 4.750% | 2.750% | 6.352% | $5.22 | $4.61 |
| 0 | 5.000% | 3.000% | 6.370% | $5.37 | $4.74 |
7/1 ARM (30 YEAR TERM) | |||||
| Points | Initial Rate (not based on index and margin used to make later adjustments) | Current Rate (based on index and margin) | APR | Monthly Payment Per $1,000 Borrowed for first 84 payments based on Initial Rate | Monthly Payment Per $1,000 Borrowed for remaining 276 payments based on Current Rate* |
| 2 | 4.750% | 2.500% | 6.260% | $5.22 | $4.77 |
| 1 | 5.000% | 2.750% | 6.310% | $5.37 | $4.89 |
| 0 | 5.250% | 3.000% | 6.349% | $5.52 | $5.02 |
|
*RATES AND PAYMENTS MAY ADJUST ANNUALLY AFTER THE INITIAL
PERIOD EXPIRES BASED ON MOVEMENTS IN THE INDEX.
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE. (PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER. Above APRs are based on loan amounts of $200,000. Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates and terms are subject to change without notice. |
| Points | Rate | APR | Monthly Payment Per $1,000 Borrowed |
|---|---|---|---|
| 10 Year Term - 120 Payments | |||
| 2 | 5.250% | 5.636% | $10.73 |
| 1 | 5.500% | 5.733% | $10.85 |
| 0 | 5.750% | 5.831% | $10.98 |
| 15 Year Term - 180 Payments | |||
| 2 | 5.250% | 5.636% | $8.04 |
| 1 | 5.500% | 5.733% | $8.17 |
| 0 | 5.750% | 5.831% | $8.30 |
| 20 Year Term - 240 Payments | |||
| 2 | 5.500% | 5.835% | $6.88 |
| 1 | 5.750% | 5.966% | $7.02 |
| 0 | 6.000% | 6.094% | $7.16 |
| 25 Year Term - 300 Payments | |||
| 2 | 5.500% | 5.796% | $6.14 |
| 1 | 5.750% | 5.946% | $6.29 |
| 0 | 6.000% | 6.094% | $6.44 |
| 30 Year Term - 360 Payments | |||
| 2 | 5.500% | 5.774% | $5.68 |
| 1 | 5.750% | 5.937% | $5.84 |
| 0 | 6.000% | 6.097% | $6.00 |
|
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE
(PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF
THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.
Above APRs are based on loan amounts of $360,000. Above rates are applicable to loans secured by a 1-2 Family home which is the principal residence of the borrower(s). Different rates may apply for loans secured by Co-ops, Second/Vacation homes and 3-4 Family homes. Rates and terms are subject to change without notice. |
| Introductory APR in Effect for First Six 6) Complete Billing Cycles | Current APR Based on Index and Margin, As Low As | Minimum Line | Maximum Line |
|---|---|---|---|
| 3.25% | 3.25% | $20,000 | $500,000 |
|
THE INTRODUCTORY RATE IS NOT BASED ON THE INDEX AND MARGIN USED TO MAKE LATER ADJUSTMENTS AND IS
AVAILABLE ONLY WITH AN INITIAL DRAW OF $25,000 AT CLOSING. AFTER THE FIRST SIX (6) COMPLETE BILLING
CYCLES OR WITHOUT QUALIFYING INITIAL DRAW, THE ANNUAL PERCENTAGE RATE MAY VARY AND IS EQUAL TO THE
HIGHEST PRIME RATE PUBLISHED IN THE WALL STREET JOURNAL ON OR BEFORE THE LAST DAY OF THE PRECEDING
MONTHLY BILLING PERIOD PLUS A MARGIN OF BETWEEN 0% AND 3%.
The maximum APR that may be imposed is 6.00% above the Prime Rate in effect at closing. There are no closing costs if you transfer existing credit lines and/or take new advances totaling at least $25,000 at account opening and you keep your Home Equity account open for at least three years. Otherwise, you will be required to reimburse MCU for certain fees paid to third parties. These fees can be as low as $925 for a $20,000 line of credit and as high as $10,100 for a $500,000 line of credit. Home Equity accounts are secured by a mortgage on your primary residence. Property insurance is required. New accounts cannot be used to consolidate existing MCU debt. Certain restrictions apply. Rates and terms are subject to change without notice. |
MyCommunity 95% (30 Year Term - Fixed Rate)
| Rate | APR | Monthly Payment Per $1,000 Borrowed for 360 Payments |
|---|---|---|
| 5.750% | 6.115% | $5.84 |
|
THE ABOVE PAYMENT EXAMPLE DOES NOT REFLECT AMOUNTS DUE FOR
TAXES, HOMEOWNER'S INSURANCE AND PMI INSURANCE (PMI INSURANCE WILL BE REQUIRED IF YOU ARE
BORROWING MORE THAN 80% OF THE APPRAISED VALUE OF THE PROPERTY). THEREFORE,
YOUR ACTUAL PAYMENT OBLIGATION WILL BE HIGHER. APR IS BASED ON LOAN AMOUNT OF
$200,000.
The following applies only to the MyCommunity Products: -1-2 Family Homes only -Downpayment as low as $500 -Must be primary residence located in New York State only -No Co-op properties allowed -Early Delinquency Counseling mandatory -Pre-Purchase Counseling mandatory -Flexible sources for downpayment Rates and terms are subject to change without notice. |
Flex 95% (30 Year Term - Fixed Rate)
| Rate | APR | Monthly Payment Per $1,000 Borrowed for 360 Payments |
|---|---|---|
| 5.750% | 6.115% | $5.84 |
|
THE ABOVE PAYMENT EXAMPLE DOES NOT REFLECT AMOUNTS DUE FOR TAXES, HOMEOWNER'S INSURANCE AND PMI
INSURANCE (PMI INSURANCE WILL BE REQUIRED IF YOU ARE BORROWING MORE THAN 80% OF
THE APPRAISED VALUE OF THE PROPERTY). THEREFORE, YOUR ACTUAL PAYMENT OBLIGATION WILL
BE HIGHER.
Above APR is based on loan amount of $200,000. Rates and terms are subject to change without notice. The following applies only to the Flex 95 Product: -30 Year Term Mortgage only -Must be Primary Residence located in New York State only -No Co-ops, PUDs, and Leaseholds -Conforming Loan limit is $359,650.00 -Single Family Homes only |
| These rates are in effect as of |