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CURRENT MORTGAGE RATES* |
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Interest Rate: |
5.500% |
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Points: |
0 |
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Type: |
Fixed |
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Duration: |
up to 20 years |
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*The
above are our current rates and are not necessarily the rate given at
the time of commitment. All rates are subject to change without
notice. |
SINGLE FAMILY DWELLING MORTGAGE
LOAN
CONDITIONS AND REQUIREMENTS
Listed below are the rates
and requirements for a Single Family Residence Mortgage offered to our
members. Condominiums, Townhouses, Duplexes, etc. are ineligible.
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All applicants must be
members of the POLISH ROMAN CATHOLIC UNION OF AMERICA. The Board of
Directors insists all applicants, husband and wife must have a minimum
of $5,000 each of Permanent Life Insurance with the PRCUA and be members
of the PRCUA for a minimum of one year. New applicants requesting
mortgage from PRCUA will qualify if both new applicants purchase $10,000
Permanent Life Insurance. |
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No home mortgage will
be given to any individual member who has an outstanding delinquent
educational loan or certificate loan. |
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Mortgage application
will only be accepted from members who will reside on the premises. |
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Members should apply
for mortgage application either in person, by telephone or by written
request. An application will then be mailed to member for completion.
The application will bear an issue date and if not returned within
thirty (30) days after the issue date, the application will not be
accepted for processing. |
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In the event members
are contemplating a mortgage loan for a newly constructed home, the
application will not be accepted prior to approximately sixty (60) days
before completion of the home. |
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The amount of mortgage
will be 80% of the appraised valuation or purchase price, whichever is
less. The maximum mortgage loan is $350,000.00. |
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Non-refundable application fee of $300.00 must accompany completed
application. |
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In addition to the
usual and customary title charges, a charge of $75.00 for preparation
and processing of mortgage documents will be deducted from net proceeds
of the loan at the time of closing. |
If you would like more
information, please contact the PRCUA Mortgage Department by phone or you
can email us at mortgages at prcua.org. |
