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Mortgage Loans

Let Monroe County Community Credit Union help you get your dream home! We offer a variety of mortgage solutions to ensure that you can find a place to call “home”—with a loan that meets your needs and fits your budget. If you are a first time home buyer, check out our FAQ on Home Buying page and run some numbers through our Financial Calculators! To apply for and obtain credit, you must be 18 years of age.

Mortgage Center

Tackling today’s real estate market is a challenge to say the least. The rules seem to change daily, and keeping up can be tricky. Our Mortgage Center stays on top of the latest regulations and rules to offer our members only high-quality, no-nonsense loans. Monroe County Community Credit Union and Mortgage Center are working together to provide you with a high quality product that is in your best interest! Whether you’re buying your first home or refinancing an existing one, our partnership with Mortgage Center allows us to offer plenty of smart and stable products to suit your individual needs.

Mortgage Center’s rates are consistent and highly competitive, and all closing costs are fully disclosed. In addition, you’ll appreciate discounted PMI rates, low closing costs, and outstanding service throughout the life of your loan. Plus, your monthly payment can be conveniently deducted right from your MCCCU draft (checking) or share (savings) accounts! So go to our Mortgage Center website today to see what we can do for you. If you prefer to discuss your mortgage options in person, please continue to do so! Stop in to any of our branches during regular business hours and one of our loan officers will be happy to discuss your mortgage needs and guide you on the path to home ownership!

First, check out Mortgage Center's competitive home loan rates and start your application today!

Your home loan options are:


First Mortgage - A loan to purchase a residential dwelling.

Quick Facts:

  • Maximum amount: $1,250,000.00
  • Minimum amount: $40,000.00
  • Financing available with down payments as low as 3%
  • Can be used as a cash out refinance option for home improvements or debt consolidation
  • Maximum term: 360 months (30 years)

Benefits:

  • Gives you purchasing power in the market place
  • Resources available through Mortgage Center's website help members understand the home buying process

Home Equity Line of Credit (HELOC) or Home Equity Closed End Loan - Both of these products can be made on up to 85% of the appraised value less the balance of your first mortgage. A Home Equity Line of Credit (HELOC) is a loan that has a10 year draw period and 15 year payback period where advances against the loan can be drawn if there is an available balance. A Home Equity Closed End is an equity loan with a specific term and fized payment that closes once paid off.

A HELOC loan is useful for borrowers who are looking for ongoing access to a line of credit. This solution is great for people who are looking to make various home improvements, are starting a remodeling project, or are looking for help to pay for college, a wedding, or education costs.

Quick Facts:

  • Minimum loan amount: $10,000
  • Line of credit available for up to 10 years followed by a 15-year repayment period
  • Easy access through online banking, CU*Talk, or at any of our 5 convenient locations
  • Borrow up to 85% of your combined loan-to-value (which includes your first mortgage)
    • Equity is calculated by subtracting the current mortgage balance from 85% of your home’s appraised value
  • Contact us for rates
  • No annual fee

A Home Equity Closed End Loan is a great solution for borrowers who are looking to make a large one-time purchase. Fixed monthly payments for a set term allow you to keep your finances on track. A closed end loan is great for things like a one-time remodel, roof repair, new pool, or a debt consolidation.

Quick Facts:

  • Minimum loan amount: $10,000
  • Terms of 5, 10, or 15 years available
  • Borrow up to 85% of your combined loan-to-value (which includes your first mortgage)
  • Contact us for rates
  • No annual fee
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Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act. Unauthorized access or use is not permitted and may constitute a crime punishable by law.