Mortgage Lending Rate Sheet
OFCU offers its members many types of real estate loans including: 15 year fixed rate first mortgages,30 year mortgages and fixed rate and line of credit home equity loans.The rates quoted here are indications only and are based on certain underwriting criteria, and all rates are subject to change without notice. Rates are based on term, security and credit worthiness. Rates also reflect a 1/4% discount for payroll direct deposit and automatic payment. All third party costs to be paid by the member.
Please call OFCU at (402) 399-9001, or send email to lynnbowers@omahafcu.org or chrisbyous@omahafcu.org for further information.
First Mortgage Fixed-Rate Loans
| 15 Year Mortgage Loans | INTEREST RATE | POINTS | ORIGINATION | APR |
|---|---|---|---|---|
| Call for 402-399-9001 for current rates | 0 | 1.00% | Based on prepaids and loan $ - call for info | |
| Call 402-399-9001 for current rates | 0 | 0 | Based on prepaids and loan $ - call for info | |
Maximum LTV = 80%. PMI required on loans over 80%. Property must be located within a 100 mile radius of the credit union. The short term Fixed Rate Mortgages are fully amortizing loans. The rate will be fixed for the full term of the loan and your monthly principal and interest payments will not change for the term of the loan.OFCU also offers 30 Year First Mortgage Loans. Omaha Federal Credit Union has joined forces with Centennial Lending, a locally owned Credit Union Service Organization. Centennial Lending offers you a wide variety of home mortgage loans at competitive rates when you are ready to purchase a new home or refinance an existing home. For more information or apply online Click Here.
Home Equity Fixed Rate
| 80% LTV | INTEREST RATE | POINTS | APR | |
|---|---|---|---|---|
| Call for current rate | 0.00 | Based on amount borrowed and prepaids | ||
| 90% LTV | INTEREST RATE | POINTS | APR | |
|---|---|---|---|---|
| Call for current rate | 0.00 | Based on amount borrowed and prepaids | ||
Omaha Federal Credit Union will finance 80% of the equity in the home. Property must be located within a 100 mile radius of the credit union. All third party costs to be paid by the member.
CA$H-Line Home Equity Loans (HELOC's)
Home Equity - Lines of Credit
| Variable Rate | TYPE | INTEREST | APR | NO POINTS |
|---|---|---|---|---|
| 80% LTV | 4.99% Introductory Rate* | 0.00 | ||
| 90% LTV | 6.49% Introductory Rate* | 0.00 | ||
*This Introductory Rate is good through December 31, 2008. Then the rate will change to our current rate. As of April 1, 2008, the rate was 6.25% APR. Annual percentage rate shall never be greater than 5% over the initial interest rate or 18% which ever is less and the minimum shall never be less than 2% below initial rate. Rate changes will be a maximum of 2% per change date with changes to occur annually in January of each year. Maximum financing is 80% of the equity in home. Property must be located within a 100 mile radius of the credit union. All third party costs to be paid by member.
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.
