Real Estate Loans

First Mortgages, Home Equity Fixed Rate, & Home Equity Line of Credit:

Click here to go to OFCU's Mortgage Market Pages.


FIRST MORTGAGE LOANS:

OFCU offers both 15 and 30 year term fixed rate First Mortgages.

Some of the features of our 15-year fixed rate mortgage loan are:

For a complete list of the documentation and information you will need to provide when applying for your First Mortgage, see Mortgage Loan Checklist.

Omaha Federal Credit Union members can now also experience the benefits of 30 year mortgage lending with all of the advantages of Credit Union sevice. Omaha Federal Credit Union has joined forces with a locally owned Credit Union Service Organization (CUSO) called Centennial Lending. Through Centennial, we can now offer you a wide variety of 30 year home mortgages at competitive rates. For more information or to apply online Click Here.


HOME EQUITY FIXED RATE:

Omaha Federal Credit Union also provides fixed Rate Home Equity loans. Members may apply for up to 80% of the equity in his/her home (based on appraisal or tax value), and can repay for up to 12 years. A Balloon Rate Home Eqity Loan is also available with a balloon payment at 5 years. This loan has associated appraisal (or copy of the tax assessed value), flood zone determination, credit report, title insurance (or title search), and filing fees. OFCU also offers a Home Equity Fixed Rate Loan which allows members to apply for 100% tax value or 90% of appraised value including liens of their home. This loan has an interest rate 1/2% higher.


Note: OFCU finances single-family units only. The property must be located within a 100 mile radius of the Credit Union.

CA$H-LINE HOME EQUITY LINE OF CREDIT (HELOC):

The HELOC allows the Member to borrow against his/her home's accumulated equity without disturbing his/her savings or other investments. OFCU will loan 80% of the appraised value or tax value including all liens. Members may also take advantage of our Home Equity II Loans which offer 100% of tax value or 90% of appraised value including all liens. This loan has an interest rate slightly higher than our regular Home Equity Loans. HELOC has a low variable interest rate and there are no loan-advance fees, annual fees or points. The Member can make advances ($5,000 initial minimum, $1,000 thereafter) at his/her asking. This loan has associated appraisal (or a copy of the tax assessed value), flood zone determination, credit report, title insurance (or title search), and filing fees.

You can apply for either OFCU's Second Mortgage or Home Equity Loan by using our convenient On-Line Insta-Loan.

Note: OFCU finances single-family units only. The property must be within a 100 mile radius of the Credit Union.

All terms subject to change without prior notice. Interest paid on Real Estate Loans may be tax deductible. Consult your tax advisor on deductibility.

For more information please dial (402) 399-9001, toll-free 1-800-660-7350, or E-mail us at: Loan Information.

Federal Fair Housing Act Disclosure

Click on this Home Equity Early Disclosure link for important information. Home Equity Early Disclosure



HOME MORTAGE DISCLOSURE ACT NOTICE

The HMDA data about our residential mortgage lending is available for review. The data shows geographic distribution of loans and applications; race, gender, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at the Omaha Federal Credit Union office regarding the locations where HMDA data may be inspected. To receive a copy send a written request to: Omaha Federal Credit Union, Attn: Lynn Bowers, 3001 South 82nd Ave., Omaha NE 68124.

Equal_House_Lender




HOME
PAGE		 ABOUT
OFCU		 PRODUCTS &
SERVICES		 DEALS ON
WHEELS		 MORTGAGE
MARKET		 RATE
BOARD		 OFCU
DIRECTORY