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Mortgages
AFCU has first mortgages at some of the best rates you will find. When you're making a decision as important as this you should talk with people you know and trust. Your Member Service Representatives will be pleased to help with the information you need regarding a mortgage, and put you in touch with our mortgage expert.
Please call Sandy Leavy at 585.454.5900, ext. 105.
Click here for Rates*
*The rates are for loans in the range of $35,000 to $417,000.
Call for a quote on loans outside of this range.
Owner-occupied 1-4 family properties only.
** All Annual Percentage Rates are based on a 20% down payment and amortized over the maximum term.
Adjustable Rate Mortgage Facts:
Adjustable Rate Mortgages are for a 30 year term.
Adjustable Rate Mortgages (ARM's) fluctuate with a pre-determined index. When they adjust, the index is added to a margin. The sum is then rounded up to determine the final rate. This is not the manner in which the initial rate is determined. The initial rate is based on many other factors. When the rate adjusts with an Adjustable Rate Mortgage, it will be subject to adjustment caps. There is a maximum that the rate can change per adjustment (called the adjustment cap) and the entire life of the loan (called the life cap). The adjustment caps will vary by program.
Advantage's ARM's use the one year Treasury bill as our index. The margin is 2.75%.
*The 1/1 will adjust every year.
**The 5/1 ARM will have its initial adjustment five years after closing and then have annual adjustments.
***The 10/1 ARM will adjust ten years after the closing date. Subsequent adjustments will occur annually.
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