Home Loan Solutions
www.capcomfcu.org
Mortgage Options Conventional •Financeupto95%ofthepurchaseprice•Quickprocessingtimewithsame-day preapproval—ifcreditqualified•Flexibleratesandtermsavailable•Investmentpropertiesareallowed•Askanassociateaboutcurrentratesandother termsregardingourhomeloanproducts
Government •FHA–Perfectforfirst-timehomebuyers, memberswithlowdownpaymentsorthose withless-than-perfectcredit.Sellercan contributeupto6%towardsclosingcostsand pre-paiditems.•VA–VAloansallowfor100%financingofthe appraisedvalueon1to4unitowner-occupied properties.Mustbeaneligibleveteran.Seller cancontributeupto6%towardsclosingcosts andpre-paiditems.•USDA–GuaranteedRHSProgramallowsfinancing upto100%oftheappraisedvalue.Incomeand propertylimitationsapply.Nomonthlymortgage insurancerequired.Sellercancontributeupto6% towardsclosingcostsandpre-paiditems.
New Construction End Loans •Upto270DayRateLock.10%DownPayment withnoPMIrequired.Loanamountsup to$500,000.
Reverse Mortgage•Convertpartofequityintoup-frontcash.No repaymentrequireduntilthehomeisnolonger usedasaprimaryresidence.Federallyinsured. Mustbe62yearsofageoroldertoqualify.
CAP COM Home Equity Loans•OurfixedandadjustablerateHomeEquity Loansofferlowclosingcosts,terms5–20years, withmonthly,weeklyorbi-weeklypayments. Ourfixedrateloansoffera4yeardrawand variablerateloansoffera20yeardrawforthose whoarecreditqualified.Consolidatedebt,finish homeimprovements,paytuitionandmore!
Phone Numbers & WebsiteCCFCUPhone (518)458-2195CCFCUTollFree (800)468-5500CCFCUFax (518)458-2261Touch-24 (518)458-8986Touch-24TollFree (800)634-2340Connect-24 www.capcomfcu.orgMobileBanking www.capcomfcu.mobi
Main Office & Mailing Address18ComputerDriveEast•Albany,NY12205
Albany • Brunswick • Clifton Park Cohoes • Colonie • Glenmont • Latham
Niskayuna • North Greenbush
REV 2/14/2011
CAP COM FCU is federally insured by the National Credit Union Administration.
PartnerwithCAPCOMFederalCreditUnionforyourhomeloanneeds.OurHomeLoansoriginatelocallyandarealsolocallyunderwrittenandservicedforyourconvenience.
We make buying a home easy!Youhaveenoughtoworryaboutwhenyou’rebuyingahomeorrefinancingyourloan;letushelpwithsomeofthehassle.AtCAPCOMFederalCreditUnion,apersonalhomebuyingexpertwillwalkyouthroughtheentireprocess.Applytodayandbenefitwith:•Freemortgageconsultation•Quickandeasypreapprovals•Avarietyofratesandterms•Competitiveclosingcosts•Loanamountsof$40,000andup•First-timehomebuyersprograms•Jumbomortgages•Eligiblepropertytypes(1-4familyresidential)
•GreatHomeEquityLoanoptions!
•Onlinepaymentsandmore! Shop with confidence when purchasing your homeFirst-timehomebuyersoftenhavemanyquestionswhenitcomestobuyingthehomeoftheirdreams.CAPCOM
isknownforofferingcompetitivemortgageratesandourexceptionalbrandofmemberservice.WatchourwebsiteandLines of CommunicationnewsletterforFREEworkshopsonfirst-timehomebuyingandothermortgage-relatedtopics.
Mortgage Glossary Adjustable Rate Mortgage (ARM):Amortgageinterestratethatcanchangeatdesignatedintervalsbasedonafinancialindex.
Annual Percentage Rate (APR):Aratethatreflectstheannualcostofaloan,includingloaninterestrate,PMI(PrivateMortgageInsurance),pointsandsomefees.
Appraisal:Determinesthevalueofthepropertybeingusedascollateralbasedonsalescomparisonapproach.
Closing:Alegalproceduretotransferpropertyand/orfinalizeamortgagetransaction.
Commitment Letter:Thelender’sformalwrittennoticethataloanhasbeenapproved.
Escrow:Anaccountheldbythelenderthatisusedfortherealestatetaxesandhomeowner’sinsurance.
Points (Loan Discount Points):Afeethatmaybeassessedatclosingbythelendertoobtainaspecificinterestrate.Eachpointisequalto1%oftheloanamount(e.g.,twopointsona$100,000mortgagewouldcost$2,000).
Title Insurance:Aninsurancepolicywhichinsuresalenderagainsterrorsinthetitlesearch.Thecostofthepolicyisbasedontheloanamount.Owner’sPoliciesarealsoavailabletoprotectthehomebuyer’sinterests.
Preapproval:Theprocessofdetermininghowmuchmoneyyouwillbeeligibletoborrowbeforeyouapplyforaloan.
Credit Risk Score:Acreditriskscoreisastatisticalsummaryoftheinformationcontainedinaconsumer’screditreport.Theoverallcreditriskscoreishighlyrelativeinthecreditunderwritingprocessforamortgageloan.
Debt-to-Income Ratio:Theratio,expressedasapercentage,thatresultswhenaborrower’smonthlypaymentobligationonlong-termdebtsisdividedbyhisorhergrossmonthlyincome.
Loan-to-Value Ratio:Therelationshipbetweentheamountofthemortgageloanandtheappraisedvalueofthepropertyexpressedasapercentage.
PMI (Private Mortgage Insurance):Intheeventthatyoudonothavea20%downpayment,lenderswillallowasmallerdownpayment—aslowas5%insomecases.Withthesmallerdownpaymentloans,however,borrowersareusuallyrequiredtocarryprivatemortgageinsurance.Privatemortgageinsurancemayrequireaninitialpremiumpaymentandmayrequireamonthlyfeedependingonyourloanstructure.
Our purpose is to benefit every member, every time, every day.CAPCOMisalocallybased,member-ownedfullservicefinancialinstitution.Ourpurposeistobenefiteverymember,everytime,everyday.AtCAPCOMourvisionistobeasoughtafterfinancialinstitutionwhoseunbridledcommitmenttoitsmembersandcommunitywillbeunmatchedbyanyone.Thisuniquephilosophyisthecornerstoneofwhy“Ourservicesaysitall!”
Home Loan Solutions
www.capcomfcu.org
Mortgage Options Conventional •Financeupto95%ofthepurchaseprice•Quickprocessingtimewithsame-day preapproval—ifcreditqualified•Flexibleratesandtermsavailable•Investmentpropertiesareallowed•Askanassociateaboutcurrentratesandother termsregardingourhomeloanproducts
Government •FHA–Perfectforfirst-timehomebuyers, memberswithlowdownpaymentsorthose withless-than-perfectcredit.Sellercan contributeupto6%towardsclosingcostsand pre-paiditems.•VA–VAloansallowfor100%financingofthe appraisedvalueon1to4unitowner-occupied properties.Mustbeaneligibleveteran.Seller cancontributeupto6%towardsclosingcosts andpre-paiditems.•USDA–GuaranteedRHSProgramallowsfinancing upto100%oftheappraisedvalue.Incomeand propertylimitationsapply.Nomonthlymortgage insurancerequired.Sellercancontributeupto6% towardsclosingcostsandpre-paiditems.
New Construction End Loans •Upto270DayRateLock.10%DownPayment withnoPMIrequired.Loanamountsup to$500,000.
Reverse Mortgage•Convertpartofequityintoup-frontcash.No repaymentrequireduntilthehomeisnolonger usedasaprimaryresidence.Federallyinsured. Mustbe62yearsofageoroldertoqualify.
CAP COM Home Equity Loans•OurfixedandadjustablerateHomeEquity Loansofferlowclosingcosts,terms5–20years, withmonthly,weeklyorbi-weeklypayments. Ourfixedrateloansoffera4yeardrawand variablerateloansoffera20yeardrawforthose whoarecreditqualified.Consolidatedebt,finish homeimprovements,paytuitionandmore!
Phone Numbers & WebsiteCCFCUPhone (518)458-2195CCFCUTollFree (800)468-5500CCFCUFax (518)458-2261Touch-24 (518)458-8986Touch-24TollFree (800)634-2340Connect-24 www.capcomfcu.orgMobileBanking www.capcomfcu.mobi
Main Office & Mailing Address18ComputerDriveEast•Albany,NY12205
Albany • Brunswick • Clifton Park Cohoes • Colonie • Glenmont • Latham
Niskayuna • North Greenbush
REV 2/14/2011
CAP COM FCU is federally insured by the National Credit Union Administration.
Home Loan Solutions
www.capcomfcu.org
Mortgage Options Conventional •Financeupto95%ofthepurchaseprice•Quickprocessingtimewithsame-day preapproval—ifcreditqualified•Flexibleratesandtermsavailable•Investmentpropertiesareallowed•Askanassociateaboutcurrentratesandother termsregardingourhomeloanproducts
Government •FHA–Perfectforfirst-timehomebuyers, memberswithlowdownpaymentsorthose withless-than-perfectcredit.Sellercan contributeupto6%towardsclosingcostsand pre-paiditems.•VA–VAloansallowfor100%financingofthe appraisedvalueon1to4unitowner-occupied properties.Mustbeaneligibleveteran.Seller cancontributeupto6%towardsclosingcosts andpre-paiditems.•USDA–GuaranteedRHSProgramallowsfinancing upto100%oftheappraisedvalue.Incomeand propertylimitationsapply.Nomonthlymortgage insurancerequired.Sellercancontributeupto6% towardsclosingcostsandpre-paiditems.
New Construction End Loans •Upto270DayRateLock.10%DownPayment withnoPMIrequired.Loanamountsup to$500,000.
Reverse Mortgage•Convertpartofequityintoup-frontcash.No repaymentrequireduntilthehomeisnolonger usedasaprimaryresidence.Federallyinsured. Mustbe62yearsofageoroldertoqualify.
CAP COM Home Equity Loans•OurfixedandadjustablerateHomeEquity Loansofferlowclosingcosts,terms5–20years, withmonthly,weeklyorbi-weeklypayments. Ourfixedrateloansoffera4yeardrawand variablerateloansoffera20yeardrawforthose whoarecreditqualified.Consolidatedebt,finish homeimprovements,paytuitionandmore!
Phone Numbers & WebsiteCCFCUPhone (518)458-2195CCFCUTollFree (800)468-5500CCFCUFax (518)458-2261Touch-24 (518)458-8986Touch-24TollFree (800)634-2340Connect-24 www.capcomfcu.orgMobileBanking www.capcomfcu.mobi
Main Office & Mailing Address18ComputerDriveEast•Albany,NY12205
Albany • Brunswick • Clifton Park Cohoes • Colonie • Glenmont • Latham
Niskayuna • North Greenbush
REV 2/14/2011
CAP COM FCU is federally insured by the National Credit Union Administration.
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