Visions Federal Credit Union

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30-Year Fixed-Rate Mortgages

Qualified Property - One-to four-family residential owner-occupied purchase money, refinances.

Max Loan to Value - Purchase - 1 family 95% of sale price (2 family 85% of sale price) (three- to four-family 75% of sale price)

Refinance - single family up to 80% of appraised value as "Cash Out." Pricing adjustments (see mortgage representative for adjustments):

  • Two - to four-family up to 75% of appraised value as "Cash Out"
  • One-family - 90% of appraised value for "Limited Cash Out."
  • Two-family - 85% of appraised value for "Limited Cash Out."
  • Three- and four-family - 75% of appraised value for "Limited Cash Out."

Loan Amount - Minimum - $35,000, Maximum - $424,100; $636,150 for high cost areas as designated by Fannie Mae

Term - 30 Years

Escrow Account - Required when loan-to-value ratio is 80.01% or higher.
If less than 80% loan-to-value ratio, is based on credit worthiness.

Payment Options - Monthly Only

Interest Rate Change - Rate remains the same for the life of the loan

Proof of home owner's insurance is required

Additional fees may apply to 30 year fixed rate mortgages.

Visions will not subordinate or agree to the assignment of any oil/gas/mineral rights lease to a third party.