Home Loan Solutions

For Every Member

April 20, 2007 through April 26, 2007

(Rates subject to change)

Fixed/Adjustable Rate Mortgages (ARM) Loans

Rates

as low as*

Rates subject to change without notice. The above loans are fixed rate for the first 3, 5, 7, or 10 years then they convert to an ARM with annual adjustments.  The Index is the Weekly Average of the 1-Year US Treasury Securities adjusted to constant maturity of 1 year, as made available by the Federal Reserve Bank.  Loans have a 2% initial rate cap with a 1% annual rate cap and a lifetime rate cap of 5% based on the initial rate.  The floor rate is 3.5%. The Margin is 2.00%. Initial Interest Rates are .375% higher if the borrower does not sign up for auto transfer of the monthly loan payment. 

What is a Fixed/Adjustable Rate Mortgage Loan?

An Alliance Credit Union Fixed/Adjustable rate mortgage offers the security of a fixed rate while offering you the payment savings of an adjustable rate mortgage. Payments are fixed for the first 3, 5, 7, or 10 years adjusting annually thereafter. Choose a 15, 20, or 30 year amortization and enjoy rate protection with our low annual and lifetime rate caps.

Who benefits from an Alliance Fixed/Adjustable Rate mortgage?

All members, whether purchasing their first home or refinancing an existing home benefit from this type of loan. Because Alliance does not charge mortgage insurance, you potentially have significant savings over the life of the loan, depending on your loan amount, compared to a traditional 30 year fixed rate mortgage. Even if you are putting over 20% down, the savings can still be significant.

Alliance Home Loan Advantages:

   h No Private Mortgage Insurance (PMI)!  You can borrow up to 90% of the purchase price or appraised value,  

        whichever is lower

   h Lower closing cost than our competitors -- potentially save $$$$s!

   h No origination or discount points

   h We do not require escrowing -- you pay your own homeowners insurance and property tax.

   h No pre-payment penalties

   h JUMBO loans do not have higher loan rates

   h Local Processing and Servicing

The above information is not inclusive of all mortgage products.

Alliance Credit Union offers a variety of products and rates to

meet the needs of all members. Call today for a personal

consultation to find the home loan that is right for you.

 (636) 343-7005, Option #3

* Initial Interest Rates are .375% higher if the borrower does not sign up for auto transfer of the monthly loan payment. 

**Annual percentage rate (APR), The annual cost of a loan to a borrower.  Like an interest rate, the APR is expressed as a percentage of the loan amount.  Unlike an interest rate, however, it includes other charges or fees to reflect the total cost of the loan.  The Federal Truth in Lending Act requires that every consumer loan agreement disclose the APR.  Since all lenders must follow the same rules to ensure the accuracy of the APR, borrowers can use the APR as a good basis for comparing certain costs of loans. Listed APR’s are based on a $100,000 loan amount and include 15 days of prepaid interest.

Rates

as low as*

What is a Fixed Rate Mortgage Loan?

   You pay a predetermined interest rate for the duration of the mortgage. At Alliance, you generally 

   have a choice of a 10, 15, 20 or 30-year mortgage.  You will pay more interest over the term of the

   30-year mortgage but your monthly payments are lower than the shorter term fixed rate loans that

   we offer.  With the 10, 15 or 20-year mortgage, you have a higher monthly payment but you build

   up the equity in your home faster.

Alliance advantages:

   h No PMI! (Borrow up to 85% of the purchase price or appraised value whichever is lower)

   h Lower closing cost than our competitors -- potentially save $$$$s!

   h No origination or discount points

   h We do not require escrowing -- you pay your own homeowners insurance and property tax.

   h No pre-payment penalties

   h JUMBO loans do not have higher loan rates

Call today for a personal consultation to find the

home loan that is right for you.

(636) 343-7005, Option #3

Click here to access the Home Loan Application. 

Click here to access ValueCheck, our free internet home valuation tool.

Click here for Home Loan Calculators.