Selfreliance FCU offers competitive rates on residential mortgages. Choose from a variety of mortgages:
- 5/1 ARM
- 7/1 ARM
- 15 year fixed
- 25 year fixed
- 30 year fixed
Our mortgages feature no points and your rate is locked in for 60 days from application date.
Closing costs may apply.
Selfreliance FCU offers mortgage pre-qualifications on owner-occupied, residential (non-commercial) mortgages.
Mortgage applications can be completed at any of Selfreliance FCU's full service offices in Illinois, Michigan and New Jersey.
For more information, please refer to the locations.
Selfreliance FCU offers competitive rates on a variety of residential mortgages.
Buying A Home
Are you ready to purchase a home? We offer a variety of mortgage loans with no prepayment penalties, and you may even qualify for a low down payment.
If you are just starting to look for a home, come in and meet with one of our loan officers to get pre-qualified. Once you're pre-qualified, you can shop with confidence.
Refinancing Your Home
Refinancing may be the best move for getting equity out of your home to finance an education, consolidate bills, purchase a vacation home, or to simply lower your payments.
Home Equity Line Of Credit (HELOC)
You've worked hard to build equity in your home. Now you can use it for anything from home improvements to paying off debts, to financing an education. You can borrow up to 80% of your home’s value, less your remaining mortgage balance.
With a HELOC, you can borrow funds when you need them, with a competitive variable rate. No annual fees
Vacation or Second Home
Are you looking to purchase that vacation, weekend, or second home? Call or come in and speak with one of our loan officers.
Real Estate Investment Loans
Buying or Refinancing an Investment Property:
We offer loans on a variety of commercial-type properties
- Rental apartment buildings, condominiums and single family homes
- Mixed use building (residential with commercial space)
- Vacant land
- Other commercial properties
If you are ready to build, our experienced staff is here to help you with your financial needs.
Business Open Credit Loans (BOC):
A BOC is a revolving line of credit secured by your investment property.
For more information, contact our Mortgage Department at 888.222.8571 extension 283 or our Member Business Loan Department at extension 291.
* The rate you receive will be based upon occupancy, collateral and loan characteristics.
Higher loan limits available in High-Cost areas. Jumbo loan rates apply for higher loan limits.
Adjustable Rate Mortgage (ARM):The 5/1 and 7/1 ARMs offer a fixed rate for the initial period of the loan and adjust to a one-year ARM after that period. The interest rate and monthly payment may adjust annually based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the index) plus a margin of 2.50 percentage points with a 2% annual change cap and a 5% life time cap.
5/1 ARM Payment for a $100,000 80% LTV loan with a 3.125% rate and 3.990% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 60 payments of $428 at an interest rate of 3.125% and 300 payments at $488 at an interest rate of 4.350%.
7/1 ARM Payment for a $100,000 80% LTV loan with a 3.250% rate and 3.910% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 84 payments of $435 at an interest rate of 3.250% and 276 payments at $485 at an interest rate of 4.350%.
Payment examples do not include taxes and insurance premiums. All Selfreliance FCU loan programs, rates, terms and conditions are subject to change at any time without notice.