Mini-Mortgage Loan R...

Current as of: 2/15/2019

Mini-Mortgage

  • Term 10 Years or Less
  • Annual Percentage Rate (APR)1 4.75% APR (4.10% Floor)
  • Coop. Giveback Rate3 4.60% APR (4.10% Floor)
1Mini Mortgage Rates: Subject to credit qualification. Members can qualify for an additional .15% on the cooperative loan discount rates for LTV 45% or less. Up to 75% maximum loan to value based on tax-assessed value with an appraisal. Member is responsible for closing costs, which could be less than $400. Repayment terms of ten years or less available. The Annual Percentage Rate (APR) varies based on program selected. Selected APR will remain fixed for the duration of the term of the loan. Owner-occupied property only. Property insurance required. Rates subject to change without notice.
2Mini Mortgage payment example for illustrative purposes only: If you borrow $20,000 at 4.40% annual percentage rate (APR) with a 10 year term, your minimum monthly payment obligation would be $206.31. Over the life of the loan you will pay $4,757.69 interest.
3Cooperative Loan Discount Rates: To qualify for Cooperative Loan Giveback discounts, you must have the following account relationships with Dupaco Community Credit Union:
Savings, Checking, Automatic Payment: .05% discount;
Savings, Checking, $1,500 or more in a savings or loan account, direct deposit, automatic payment: .10% discount;
Savings, Checking, $1,500 or more in a savings or loan account, direct deposit, automatic payment, Dupaco VISA card, and any one of the following: Certificate, IRA, Home Equity Line of Credit, or other loan: .15% discount.