Real Estate Loans
Unity Catholic Real Estate Loans
Real estate loans encompass a wide range of financing options that cater to the diverse needs of individuals and businesses involved in property transactions. Among these options, Unity Catholic FCU offers fixed-rate home equity loans (also known as second mortgages), and variable-rate Home Equity Lines of Credit (HELOCs). These loan types provide borrowers with the necessary funds to achieve their real estate goals while offering different features and benefits to suit their unique circumstances.
At Unity Catholic Federal Credit Union, we offer a variety of real estate loans at competitive rates with an easy application and approval process. When borrowing against such an important asset, trust your credit union to help you with your home financing needs.
To Verify a Financial Service Provider through NMLS Consumer Access www.nmlsconsumeraccess.org
Buying a home is stressful and you will have a lot of questions, this Guide to Homeownership will provide you with answers and help you set realistic goals.
First Mortgages
A first mortgage, the most common type of real estate loan, is typically used to facilitate the initial purchase of a property. This loan is secured by the property itself, serving as collateral for the lender.
First mortgages provide borrowers with the opportunity to become homeowners without the need for an upfront payment of the full purchase price. They often offer favorable terms, such as fixed or adjustable interest rates, extended repayment periods, and competitive borrowing limits. This makes first mortgages an attractive choice for individuals entering the real estate market.
If you’re buying a new home or thinking about refinancing your existing mortgage, Unity Catholic FCU is here to help. We offer both fixed-rate and adjustable-rate mortgages with flexible terms.
With Unity Catholic FCU, you can purchase a new home with as little as 3% down! You can even use gift funds towards your down payment and close your home in as little as 30 days. Unity Catholic FCU also offers loans for both first-time and repeat homebuyers.
To apply for a loan or find out rate information see contacts below:
Jennifer Thevenin
NMLS #1167428
440-886-2558 x252
jathevenin@unitycatholiccu.org
Tammy McQuillen
NMLS#809276
440-886-2558 x236
tlmcquillen@unitycatholiccu.org
Fixed Rate Home Equity Loans (Second Mortgages)
Fixed-rate home equity loans, also known as second mortgages, are loans that allow homeowners to tap into the equity they have built up in their property. These loans are useful when borrowers require a lump sum of money for a specific purpose, such as home renovations, debt consolidation, or other major expenses.
With a fixed-rate home equity loan from Unity Catholic FCU, borrowers receive a one-time payout based on the equity they have in their property. The loan is repaid over a predetermined period with fixed monthly payments and a fixed interest rate, providing stability and predictability in terms of repayment.
You can tap into your home's equity to finance whatever life throws at you - home improvements, bill consolidation, a special vacation, wedding plans, and anything else you may encounter. Contact Unity Catholic FCU today to obtain your fixed-rate home equity loan with us!
Variable Rate Home Equity Line of Credit
Variable-rate home equity lines of credit (HELOCs) differ from fixed-rate home equity loans in that they offer borrowers a line of credit that can be drawn upon as needed. HELOCs allow homeowners to access funds up to a predetermined credit limit, using their home equity as collateral.
The interest rates on HELOCs are typically variable, meaning they can fluctuate over time based on market conditions. Borrowers have the flexibility to use the funds as necessary and only pay interest on the amount borrowed. HELOCs are often utilized for ongoing expenses, such as home improvements, education costs, or emergency funds.
Many homeowners find the flexibility of a variable-rate, Home Equity Line of Credit (HELOC) most suited to their needs. You may be approved for a certain amount, then use funds as needs arise or simply maintain your line of credit as a safety net. At Unity Catholic FCU, you’re given a special checkbook that is tied to your HELOC, so accessing your funds is as simple as writing a check. With terms of 60-120 months and low variable rates, this might be the solution for you.
TruStage™ Home Insurance Program
You trust your credit union to offer products and services to help you do more with what you have. That's why we've joined with a dedicated team of insurance professionals to bring you the TruStage Home Insurance Program.
Working with carefully selected insurance partners, the TruStage Home Insurance Program can provide discounted rates for credit union members. You'll get quality coverage for your home: liability, personal possessions and additional living expenses. You'll also get the convenience of online servicing and 24/7 claims service.
If you haven't compared home insurance lately, it's a great time to take a look. Your credit union membership could result in some nice savings.
Get your free quote today or call 1-855-483-2149.
TruStage™ Home Insurance program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.
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