*“15-Day Closing” Offer and terms: if FPCU is not ready to close ("ready to close" means ready to provide final loan documents to your settlement agent for signing by you) within 15 business days of receiving an executed sales contract, all loan documentation as required, acknowledgement to proceed and upfront fees, FPCU will credit up to $850 towards our processing fee if the loan is funded with FPCU (not to be combined with any other offer). Member must specifically request the program “Ready to Close” for a maximum 45 day escrow. Members must be pre-approved by FPCU prior to and within 90 days of the executed purchase contract with no material financial changes. Members must provide a final purchase contract, executed by both parties and all supporting loan documentation as required within two days of the date of the contract (contact your Mortgage Loan Consultant at 877-404-7328 for required documents). In addition, acknowledgement of intent to proceed by the member and the upfront fee must be received within the 2 days to start the clock. Loan rate, amount and terms must be locked and not changed at least 10 business days prior to the “Ready to Close” signing date. Offer is good for purchase loan applications received with an executed purchase contract. Offer available only for conforming, high balance conforming and jumbo 1st mortgage purchase loans for a single family residence, PUD or condo in California. Not available for refinance loans, FHA/VA programs, HELOCs, 2nd mortgages, 2-4 units or purchase loans outside of California. The guarantee does not apply if events occur beyond the control of Financial Partners Credit Union, including but not limited to: Appraised value; borrower, seller, escrow, title or other 3rd party delays; 2nd lien holder approval; short sale approval; lender conditions that cannot be met by any party; or acts of God (inclement weather, disaster, etc.). Purchase guarantee is not transferable to another borrower or another property. Program and/or terms subject to change without notice. All loans are subject to credit approval.
$0 Closing Costs Promotion: FPCU will pay for non-recurring closing costs up to a maximum of $10,000. This does not include pre-paid interest, homeowner and other insurance premiums, owner's title insurance or city/county transfer taxes. Reimbursement of closing costs paid by FPCU may be required if the loan is paid off within 36 months of origination. Other limitations apply. Call for details. This program is for owner-occupied, primary residential purchases and external, no cash-out refinances only. California properties only. Subject to approval.
APR=Annual Percentage Rate. 5/5 ARM Rate: Rate fixed for initial 5 year period, then becomes adjustable and may increase or decrease once every 5 years. Maximum rate adjustment of 2% per five years and 5% over the life of the loan. Index: 5-year Constant Maturity Treasury (CMT); Margin: 2.50%. Example of monthly payments on a $500,000 loan amount for the 5/5 ARM over 30 years: Years 1 – 5, 60 monthly payments of $2,074.46 per month based on the initial rate of 2.875% (3.923 APR); Years 6 – 10: 60 monthly payments of $2,561 based on the maximum adjustment rate of 4.875%; Years 11 – 15: 60 monthly payments of $3,010 based on the maximum adjustment rate of 6.875%; Years 16 - 30: 180 monthly payments of $3,201 based on maximum ceiling rate of 7.875%. Your payment and rate after the initial 5 year period may be less than quoted here depending on market rate conditions. Example based on a purchase loan at 80% maximum loan to value for an owner-occupied, single family home. Rate shown is for highly qualified borrowers; rate received may be different based on credit history. Payments do not include taxes and insurance. Rates effective 12/20/16. Rate, APR, terms and conditions are all subject to change without notice. $0 Closing Costs: FPCU will pay for certain non-recurring closing costs up to a maximum of $10,000. This does not include pre-paid interest, homeowner and other insurance premiums, owner’s title insurance or city/county transfer tax. Reimbursement of closing costs paid by FPCU may be required if the loan is paid off within 36 months of origination. Other limitations apply. Call for details. This program is for owner-occupied, primary residential purchases and external refinances only. Subject to approval. California properties only.
Sample loan amount of $424,000 based on purchase of a single family residence at 97% loan-to-value with a 4.803% APR and an interest rate of 4.000%. Monthly principal, interest and PMI payment of $2,976.86 for 360 months. Loans subject to borrower and property qualifications, not all applicants may be approved. Fees and charges apply to the loan and are effective 1/9/17 and subject to change without notice.
Fees and charges apply to the loan and are subject to change without notice. Other conditions, restrictions, and terms may apply. Available in all states except AK, HI, ID, MA, NH, NY and VT. Other terms also available. APR =Annual Percentage Rate.
**Some offers cannot be combined; certain restrictions apply.
Effective 1/17/17. NMLS # 401427