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Home Mortgage Application
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When you are buying or refinancing your home, ALLCO Credit
Union is the place to go first. Our most popular request for real estate financing is for
your house, and we are especially adept at getting you the lowest possible rate with the
least amount of expense. Some of our most satisfied members are people who financed their
home with ALLCO Credit Union. We work with a number of programs to make homes affordable
to first-time home owners as well as established members.
First- Time Homeowner Programs
Home ownership is a financial goal for most people. There
are a number of programs designed to assist the first-time home purchasers in securing
financing. ALLCO Credit Union participates in programs designed to help you buy that first
home sooner than you think possible. We want members to get a home and get ahead!
Great Rates for Great Members
Since we have such a variety of loan programs, we have
rates that vary greatly from program to program. Our rates will also vary per individual.
The rate on any one loan is dependent on the information you provide in your
application.
When you qualify for a loan, your strong financial habits, stable employment history and
relationship with the credit union also qualify you for our very best rate and terms.
Since no two applications are alike, no two rates are ever the same. We want to give you
the best rate we can, and your circumstances and completed application help us to
determine that. We often can quote several rates for different programs for which you are
qualified. Since we price each loan individually, and don’t have just one rate for
this or that, we cannot quote rates without a completed application.
Lots and Lots of Real Estate Options
In addition to your residence, we have helped members with
vacation homes, retirement homes, construction loans, lot loans, lake property real
estate, multi-family units, hobby farms, manufactured housing, mobile homes and virtually
any other purpose.
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What ever it is…. |
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ARMS |
fixed |
variable |
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WHEDA |
jumbo |
balloon |
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floating |
FIXED |
30
yr |
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15 year |
adjustable |
Steps |
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We can do it! |
Terms Costs and Conditions
Each program varies in costs, rates and terms. Some
programs have no closing costs nor annual fees. For each request we receive with an
application, we will provide a written good faith estimate, which describes our very best
terms and conditions for the loan programs we recommend. Equal Housing Lender.
REFINANCE
Most people don’t finance their home when interest
rates are the most affordable. You usually finance your home when you buy it, or need the
money. Refinancing allows you to obtain current market rates, and change the terms of your
loan. Refinancing can lower payments, lower rates, and shorten repayments. It is also
appropriate for people whose circumstances have changed since getting your home. Inquire
today!
Personal Protection Insurance
Options
Over 27 million Americans are
currently on disability. Seven out of ten people between the ages of 35 and 65 will suffer
a disability that lasts three months or longer. Forty-eight percent of all foreclosures
occur during a disability. Fortunately, life, accident and health insurance can subsidize
all or part of your loan payments for qualified members.
Credit Life Insurance
A life insurance policy can be obtained to retire all or part of the loan in the event of death.
Credit Accident and Health Insurance
 You can purchase credit accident and health insurance which will make your payments if you suffer a disability and cannot work.
Required Insurance
Homeowners Insurance
Members with home loans, home equity loans, second mortgages or who use the value of their
home to obtain credit must provide and maintain protection in the event of hazards. The
details are included in the promissory note and/or mortgage documents. ALLCO Credit Union,
its successors and assigns should be made a loss payee. Your insurance agent may fax the
binder and declaration page to us at (414) 256-7884, or you can supply it with your
application.
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