Mortgage Loans
Effective Date: Wednesday, June 7, 2023
| Loan Type | Rate | APR* |
|---|---|---|
| 30-Year Fixed | 6.750% | 6.979% |
| 20-Year Fixed | 6.500% | 6.797% |
| 15-Year Fixed | 6.500% | 6.871% |
| 10-Year Fixed | 6.500% | 7.022% |
| For ARM Rates, send a request to: RealEstate@FAFCU.com | ||
*APR = Annual Percentage Rate. Mortgage APR examples above are based on the assumption of a $225,000.00 first mortgage loan amount with a minimum of 20% Down Payment (no Private Mortgage Insurance [PMI] required). Rates may change based on creditworthiness, property type, and several other factors. Please contact us for more information. Rates are subject to change at any time and without notice.
Home Equity Loans
Effective Date: Wednesday, June 7, 2023
| Loan Type | Rate | APR* |
|---|---|---|
| Up to 5-Year Fixed Rate** | 5.50% | 5.50% |
| Up to 5-Year Fixed Rate | 5.75% | 5.75% |
| 10-Year Fixed Rate** | 6.00% | 6.00% |
| 10-Year Fixed Rate | 6.25% | 6.25% |
| 15-Year Fixed Mortgage Express Loan | 6.25% | 6.25% |
| 15-Year Fixed Rate | 6.50% | 6.50% |
| 20-Year Fixed Rate | 6.75% | 6.75% |
*APR = Annual Percentage Rate. Home Equity APRs reflect no closing costs for home equity loans up to $250,000.00. Home Equity loans for higher amounts are available but will include appraisal fees based on the value of the home and a higher APR. Rates may change based on creditworthiness, property type, and other factors. Contact us for more information. Rates are subject to change at any time and without notice.
**Rates apply to new money loans only at a minimum of $20,000. Contact us for more information.
Home Equity Line of Credit (HELOC)
Effective Date: Wednesday, June 7, 2023
| Loan Type | Rate | APR* |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.99%** | 4.99%** |
*APR = Annual Percentage Rate. APR based on the Prime Rate as disclosed in the Wall Street Journal as of the 25th of the previous month.
**Get 4.99% for 6 months with a minimum line amount of $20,000, minimum draw of $20,000 at closing, LTV max of 80%, and must maintain an average balance of $10,000 per month. HELOC is a variable-rate line of credit secured by primary residences with up to 80% combined loan to value (CLTV) ratio for well-qualified applicants. Promotional rate shown subject to change at any time. After the 6-month promotional period ends, the rate will revert back to the prevailing APR and not go below Prime, currently at 8.00% APR, and not above 18.00% APR.
New loans only. Rate and terms are subject to change and credit approval. Members are not eligible if refinancing an existing First Atlantic HELOC. Additional conditions may apply.
Eligible properties include owner-occupied 1-to 4-family properties, condominiums, and 2nd/vacation homes. Ineligible properties include, but are not limited to, investment property (defined as non-owner occupied property), a co-op, mobile home, or manufactured housing. Not available for homes currently for sale. Home equity lines of credit are available in first or second lien positions. Property and/or flood insurance required. No annual fees, no closing costs, no advance fees, and no application fees. A $350 processing fee is waived at the time the loan closes. If the loan is paid off within 2 years this processing fee will be added to the amount required to satisfy the loan.