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 Posted:  12/23/2013 15:10

Mortgage Rates

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Point Loma Credit Union is
An Equal Housing Lender

NMLS# 675353

Home loans are available on residential zoned properties located in California. All applications are subject to lending criteria approval including, but not limited to, credit history, property approval, and loan-to-value. Interest rates disclosed below are those extended only to our most creditworthy applicants. The rate you qualify for may be higher than the rates listed below based on such factors as, though not limited to, loan-to-value, credit score, property and occupancy type, the presence of subordinate financing, and cash-out refinance transactions. Our Rate Lock Program allows your interest rate and points to be "Locked In" by you, at the time of application, for 45 days. The rate lock is for interest rate and points only and is subject to the credit union's approval of your creditworthiness, verification of the information provided on your application, and a satisfactory property appraisal. The interest rate may be subject to change if any information obtained during the processing or underwriting of your application differs from that which you provided and/or results in loan-level pricing adjustments. Factors that may result in such pricing adjustments include, but may not necessarily be limited to, loan-to-value, credit score, property and occupancy type, the presence of subordinate financing, and cash-out refinance transactions. You will be informed of any such adjustments if and when they become known to us.

The Annual Percentage Rates (APRs) presented are for owner-occupied properties unless stated otherwise. The APRs reflect fees of $393, which consist of $18 for flood determination, $75 for tax service, and a $300 processing fee. The APRs also reflect any points (including origination and discount fees) listed. All rates, terms and conditions presented are effective 12/21/14 and are subject to change without notice. Loans with loan-to-value over 80% require mortgage insurance at the borrower's expense and are limited to a maximum of $850,000.

Flood, property hazard and/or mortgage insurance may be required and may result in a higher APR.  If the loan includes an escrow impound account, any changes to the cost of real estate taxes and insurance may affect the total monthly payment amount.

Please call the Real Estate Department at (858) 495-3400 for specific program terms, features and restrictions or for information about other available rates and programs.

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95% LTV Financing Available         

Fixed Rate Mortgages

Interest-Only
Maximum of
$4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
Interest-Only 4.000% 0.000% 4.006% $3.33
Payments are interest-only for the first three years before beginning full repayment (principal and interest) for the remaining term of the loan.  Maximum term is 30 years.  Interest rate will be higher for loan amounts in excess of $417,000.  Maximum 80% LTV. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.  


Conforming Loans*
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
30 Year Fixed 4.000% 0.000% 4.009% $4.77
  3.875% 0.375% 3.915% $4.70
  3.750% 1.000% 3.841% $4.63
20 Year Fixed 4.000% 0.000% 4.012% $6.06
  3.875% 0.375% 3.930% $5.99
  3.750% 1.000% 3.877% $5.93
15 Year Fixed 3.500% 0.000% 3.515% $7.15
  3.375% 0.375% 3.445% $7.09
  3.250% 1.000% 3.411% $7.03
10 Year Fixed 3.250% 0.000% 3.272% $9.77
  3.125% 0.375% 3.226% $9.71
  3.000% 1.000% 3.233% $9.66
Maximum term is 30 years.  Interest rate will be higher for loan amounts in excess of $417,000.Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost.

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


Jumbo Loans
Maximum Loan
$4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
Max Loan to $4,000,000 Rate Points APR Per $1,000
30 Year Fixed 4.250% 0.000% 4.256% $4.92
  4.125% 0.375% 4.163% $4.85
  4.000% 1.000% 4.090% $4.77
20 Year Fixed 4.250% 0.000% 4.259% $6.19
  4.125% 0.375% 4.177% $6.13
  4.000% 1.000% 4.125% $6.06
15 Year Fixed 4.000% 0.000% 4.011% $7.40
  3.875% 0.375% 3.941% $7.33
  3.750% 1.000% 3.909% $7.27
10 Year Fixed 4.000% 0.000% 4.016% $10.12
  3.875% 0.375% 3.971% $10.07
  3.750% 1.000% 3.980% $10.01
Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


Investment Properties / Non Owner-Occupied
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
30 Year Fixed 4.500% 1.500% 4.639% $5.07
Term is 30 Years.  Interest rate will be .625% higher for loan amounts in excess of $417,000.  Other restrictions apply.  Please contact us for further information.  Maximum LTV 80%


Variable Rate Mortgages

1/1 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
1/1 Adjustable Rate 2.000% 0.000% 2.850% $3.70
Fixed for the first year and may adjust every year thereafter.  This rate may vary and has a 1% maximum annual cap and a 6% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


3/1 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
3/1 Adjustable Rate 2.500% 0.000% 2.848% $3.95
Fixed rate for the first 3 years and may adjust every year thereafter.  This rate may vary and has a 2% maximum annual cap and a 5% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


5/1 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
5/1 Adjustable Rate 3.000% 0.000% 2.877% $4.22
Fixed for the first 5 years and may adjust every year thereafter.  This rate may vary and has a 2% maximum annual cap and a 5% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


5/5 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
5/5 Adjustable Rate 3.000% 0.000% 4.345% $4.22
Fixed for the first 5 years and may adjust every 5 years thereafter.  This rate may vary and has a 2% maximum annual cap and a 5% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


7/1 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
7/1 Adjustable Rate 3.250% 0.000% 2.909% $4.35
Fixed for the first 7 years and may adjust every year thereafter.  This rate may vary and has a 2% maximum annual cap and a 5% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


10/1 Adjustable Rate
Maximum of $4,000,000
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
10/1 Adjustable Rate 3.500% 0.000% 3.006% $4.49
Fixed for the first 10 years and may adjust every year thereafter.  This rate may vary and has a 2% maximum annual cap and a 5% lifetime cap.  Maximum 95% LTV restrictions based on loan amount, property type, and loan purpose apply. Please contact us for further information. LTVs in excess of 80% require mortgage insurance at an additional cost. 

A No Points/No Closing Costs option is available with this loan product at an interest rate .25% above the applicable 0 point rate.  A Minimum loan amount of $200,000 is required.  Other restrictions apply.  Please contact us for further information.


3/27 Adjustable Rate
Maximum of $4,000,000
(First Time Buyers Only)
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
3/27 Adjustable Rate 3.500% 0.000% 3.956% $4.49
Maximum term is 30 years.  Please contact us for applicable loan limits if the property you are financing is located in another county within the state of California.

The interest rate is fixed for the first three years prior to a one time increase of .50% for the remaining term of the loan.  However, at no time will the adjusted interest rate be less than 4% for loan amounts up to $417,000.  Interest rate will be higher for loan amounts in excess of $417,000.  Lender pays non-recurring closing costs, which include all lender costs except prepaid interest and impounds.  Maximum LTVLoan to Value - The amount of a first mortgage lien as a percentage of the lesser of the purchase price or the appraised value. 80%.


Fixed Rate Second Mortgages/Home Equity Loans

Fixed Rate
Second Trust Deeds
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
15 Year Fixed 4.500% 0.000% 4.525% $7.65
Maximum Combined LTVCombined Loan to Value - The amount of a first mortgage lien combined with a second mortgage lien as a percentage of the lesser of the purchase price or the appraised value. 80%.  $250.00 fee required.


Home Improvement
Interest
Rate
Points Annual
Percentage
Rate
Est. Monthly
Payments
Per $1,000
Home Improvement 10.500% 0.000% 10.668% $11.05
15 Year Fixed. Max Loan $35,000. No Equity Required.


Home Equity Lines of Credit

INTEREST-ONLY
SUPER HELOC
Interest
Rate
Points Annual
Percentage
Rate
 
Home Equity Line of
Credit (SUPER HELOC)
4.000% 0.000% 4.000%  
This rate may vary and is .25% above Wall Street Prime and has a lifetime cap of 6% above the initial rate.  However, at no time will the interest rate be less than 4%.  Interest-Only Payments.  25 Year Maximum.  Maximum Combined LTVCombined Loan to Value - The amount of a first mortgage lien combined with a second mortgage lien as a percentage of the lesser of the purchase price or the appraised value. 80%.


SUPER HELOC
Interest
Rate
Points Annual
Percentage
Rate
 
Home Equity Line of
Credit (SUPER HELOC)
4.000%   4.000%  
This rate may vary and is .25% above Wall Street Prime and has a lifetime cap of 6% above the initial rate.  However, at no time will the interest rate be less than 4%.  25 year maximum.  Maximum Combined LTVCombined Loan to Value - The amount of a first mortgage lien combined with a second mortgage lien as a percentage of the lesser of the purchase price or the appraised value. 80%.



  The above Home Equity Line of Credit products are only available for owner-occupied
  1-family and condominium units.


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National Credit Union Association Equal Housing Lender America's Credit Unions

Your savings Federally insured to $250,000
by the NCUA, National Credit Union Administration,
a US government agency.  Point Loma Credit Union
is an Equal Housing Lender.

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