Choose Mortgage Type
At CINCO Credit Union, we understand that everyone dreams of their perfect Happy Place, not just those with perfect credit. And we understand that everyone has different budgets available to reach those dreams. That's why CINCO offers 10 - 30 year fixed rate mortgages, as well as 1 and 3 year adjustable rate mortgages.
Fixed Rate Mortgage
This traditional home loan keeps the same interest rate for the life of the loan. Only increases in insurance and taxes will affect your monthly payment amount. A fixed rate home loan might be your best choice if you:
- Want the security of knowing what your payment will be for the life of the loan.
- Plan to stay in your home for at least 10 years.
- Don't expect your income to increase much in that time.
Adjustable Rate Mortgage (ARM)
This type of loan can have the advantage of getting you more house for lower initial payments. Because ARMs are rate-adjusted later, the initial interest rate is lower and gives you increased purchasing power. You might want an ARM if you:
- Don't plan on being in one home for a long period of time.
- Want to keep your beginning payments lower.
- Expect your income to grow significantly.
CINCO partners with myCUmortgage for 1st Mortgages. Click the link below and a Credit Union Specialists will help you determine which option might work best for you.
Home Loans Rates (Effective Jan 31, 2017)
|First Mortgage||up to 360 Months||Click for Rates and to Apply|
|Second Mortgage - Fixed Rate||up to 72 Months||as low as 3.50%|
|73-120 Months||as low as 4.00%|
|121-144 Months||as low as 4.00%|
|145-180 Months||as low as 4.25%|
|Home Equity Line of Credit||open end 0 - 120 Months||as low as 3.75%|
*APR = Annual Percentage Rate
Equal Housing Lender. We do Business in Accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Variable Rate Term. The index is the Wall Street Journal Prime Rate published on the first day of every month. Rates may adjust monthly. Maximum rate may not exceed 18%.
Rates and Terms are subject to change without notice