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IMPORTANT:
For Loan Application, please complete separate application for Primary and
Joint.
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Louviers Federal Credit Union offers a wide range of
low-cost loans to qualifying members. Each member is
assured of receiving personal and confidential
service. The objective of Louviers is to meet the
needs of our members at rates lower than other financial
institutions. It's
easy to get quick, convenient loan approval
with low interest rates from Louviers. We
offer a variety of loan services to our
members, and specialists who can help select
the best option for you.
Our Member Services representatives will guide you through
every step of the way, keeping your goals in
mind. We value and understand the needs of
our customers.
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New & Used Automobile Loans
- First Mortgages
- Home Equity Loans
- Construction Loans
- Share-Secured Loans
- Signature Loans
- Open-End
Revolving Lines of Credit
- Motor Homes & Recreational
- Vehicle Loans
- Mobile Home Loans
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FIXED
RATE HOME EQUITY LOAN*
Maximum Loan Amount -
$99,000.00
- 5-Year Fixed Rate
Home Equity 6.25% 90% LTV
- 10-Year Fixed Rate Home Equity 6.50%
85% LTV
- 15-Year Fixed Rate Home Equity 6.85%
85% LTV
Minimum Amount - $15,000
One
time draw – no re-borrowing period
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ADJUSTABLE
RATE HOME EQUITY LINE OF CREDIT*
- 15-Year Line of Credit
Home Equity 7.00% 90% LTV
- Adjustable Rate – Can Change Quarterly
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Minimum Draw at Signing - $5,000
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Future Draws – Minimum of $500
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Maximum Loan - $99,000
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*Louviers
Federal Credit Union will pay $150 of fees associated with
any Home Equity loan. This applies to the first Home Equity
Loan granted.
Any fees or modifications increasing credit limit that are
already recorded or request to convert from any fixed loan
to line of credit will be the responsibility of the member.
This will include any and all recording fees, appraisal,
title search, and documentary stamps.
You
must provide copy of current pay stub, current mortgage
balance statement, and copy of driver’s license for each
applicant.
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FIRST MORTGAGE INFORMATION
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12 MONTH ARM
The Credit Union will finance up to 80% of the appraised value of your home. Appraisals must be done by at least a State Certified Appraiser, if not someone with higher credentials, at your expense. Terms up to
25 years. The floor
rate is the Original loan rate with a ceiling of 5% over the
floor rate. At any change date, the rate cannot increase more than two (2) percentage points.
Interest rate changes are based on the weekly yield on United States Treasury Securities adjusted to a constant maturity of one year for 45 days prior to the change date and rounded to the nearest one-eighth of one percentage point (.0125), with a margin of two (2) percentage points. |
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FIRST MORTGAGE INFORMATION
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FIXED RATE
The Credit Union will finance up to 80% of the appraised
value of your home. Appraisals must be done by at least a
State Certified Appraiser, if not someone with higher
credentials, at your expense. |
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FIRST MORTGAGE INFORMATION
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30 YEARS/5 YEAR FIXED
The Credit Union will finance up to 80% of the appraised value of your home. Appraisals must be done by at least a State Certified Appraiser, if not someone with higher credentials, at your expense. Terms up to
30 years with the first five (5) years of the loan fixed,
converting over to an adjustable rate for the remaining years.
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ARE NO POINTS, NO APPLICATION FEE, AND NO PREPAYMENT
PENALTIES.
Prepayments can be made at any time for any
amount.
The Credit Union uses the following criteria for
qualification:
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28% of monthly gross income must
cover mortgage payment, taxes
and insurance
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32% of monthly gross income must
cover the above and all long term
debts (over 12 months)
For more information, please
contact the Credit Union.
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