Advertised rates / points apply to LTVs ≤ 60% and credit scores ≥ 740. Additional fees may be charged based on loan purpose, property type, credit scores and LTV.

First Trust Mortgage Rates ^*

Maximum Loan-to Value permitted on a limited cash-out refinance transaction 80%
Maximum Loan-to Value permitted on a Cash-out refinance 80%

***NRL FEDERAL CREDIT UNION WILL ALLOW MEMBERS TO PAY UP TO THREE ADDITIONAL DISCOUNT POINTS FOR ALL FIXED RATE FIRST TRUSTS. CALL FOR DETAILS***

Maximum Loan-to Value permitted on limited cash-out refinances 90% Maximum Loan-to Value permitted on cash-out refinances 80%

Maximum Loan-to Value permitted on limited cash-out refinances 80% Maximum Loan-to Value permitted on cash-out refinances 70%

* The rates listed apply to members with excellent credit scores ≥ 740, loan-to-value (LTV) ratios of up to 80% for purchases, and up to 60% for cash-out refinances, where there is no subordinate financing. Members with less than excellent credit scores, higher loan-to-value ratios and/or second trusts or equity loans on their residences may be subject to increased loan origination fees.

• Annual percentage rate (APR) calculations are based upon a loan amount of $100,000.00 with a 20% down payment or 80% LTV. Based on 30 year amortization.
• Non Cash Refinances- LTV can not exceed 95%
• Cash Out Refinances- LTV can not exceed 80%
• Any first mortgage with an LTV of more than 80% is required to have PMI.

Condominiums:

• LTV between 80% - 90% to 417K; 680 minimum credit store
• Loan amounts between $417K - 625K limited to 85% maximum LTV; 720 Minimum credit score
• Maximum LTV for properties located in Florida is 80%

Rates are subject to change at any time.

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Second Trust Mortgage Rates

Effective Date: 7/26/2010

Minimum $10,000 line of credit. Subsequent advances $100 minimum.
Maximum lifetime rate of 15%. Maximum line of credit $500,000. Rate is derived from Wall Street Journal prime +1%.
Changes become effective the first day of the second month of each calendar quarter (2/1, 5/1, 8/1, 11/1)
Term 25 years, 10 year draw period and additional 15 year repayment period.

All home equity loans are limited to principal residences. NRL Federal Credit Union pays closing costs on the Equity Express up to $1,500. The minimum equity express home equity line of credit is $5,000. The maximum limit is $50,000 or 80% LTV, whichever is less.

The Prime rate is derived from the Wall Street Journal as of the last day of each quarter. Changes become effective the first day of the second month following each quarter (5/1, 8/1, 11/1, 2/I). The maximum lifetime rate is 15%. The home will be held as collateral.

Minimum $10,000 line of credit. Required $5,000 advance at closing. Subsequent advances $100 minimum.
Maximum line of credit $150,000 Rate is derived from the 15 year fixed second trust +1%.
Term 10 years, 5-year draw period and additional 5year repayment period.

* CU paying closing cost/** Member paying closing cost

This special 5% Annual Percentage Rate (APR) is only available April 1 – July 31, 2010 on 5-year term, fixed-rate home equity loans. NRLFCU pays closing costs. The minimum loan amount is $5,000. The maximum loan amount is the lesser of 90% LTV and $100,000.

* CU paying closing cost/** Member paying closing cost

The term of these loans shall not exceed 15 years (180 months), however the loan can be amortized over a 30 year period with a balloon payment due at the end of the term. All closing costs will be paid by the member on purchase money transactions.

** Member must acquire first trust with NRL FCU. This second trust is for purchase money transactions only.

Mortgage Department:
Local: 301-839-8429
Toll-Free: 800-526-6661 x 8429
Email: Mortgage@nrlfcu.org

:: NRL Federal Credit Union :: P.O. BOX 1026 :: Oxon Hill, MD :: 20750-1026 :: (301) 839-8400 :: (800) 526-6661 :: www.nrlfcu.org