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Mortgage Terms and Conditions

General Disclosures
  • Loan rates can only be locked through a FPCU Mortgage Consultant. Please contact your Mortgage Consultant for further details. Other restrictions may apply. Due to various federal, state and local requirements, certain products may not be available in all areas.
  • The monthly payment amount referenced includes principal, interest and any required mortgage insurance. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
  • The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate, applicable closing costs and estimated pre-paid interest.
  • The approximate estimate of closing costs and prepaid finance charges does not constitute and is not a substitute for the Loan Estimate that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • Conventional loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
  • Mortgage interest rates shown are based on a 45-day lock for the purchase of a primary residence. Under certain circumstances, a 45-day rate lock may not be available.
  • These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. For more information please contact your Mortgage Consultant.
Adjustable Rate Mortgages
  • For refinance transactions: If you are a Service member on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any Interest rates, and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the First Adjusted Payments displayed are based on the current index plus the margin (fully indexed rate) at time of scenario/disclosure.
  • For conforming and jumbo ARM interest rates, at adjustment your new mortgage rate will be the average of the London Interbank offered rates for one-year, U.S. dollar-denominated deposits in the London market (LIBOR) as published in the Wall Street Journal, plus a margin of 2.25% for the 5/1 and 7/1 ARM products or the 5 year CMT index as published in www.treasury.gov plus a margin of 2.50% for the 5/5 ARM product. Each ARM product is subject to annual and lifetime adjustment caps.
Jumbo Rate Mortgages
  • Please contact your Mortgage Consultant as certain restrictions may apply.




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