Mortgage/Real Estate Loan Rates

*30-year fixed home loan has a fixed rate of 2.75%/2.81% APR. 5/1 ARM with a 30-year term has an Initial Start Rate of 1.99%/2.14% APR. The ARM Index is based on the 1-Year US Treasury Bill rate with a Minimum and Maximum Rate of 2.29% and 7.29%, respectively. The ARM Margin is 2% to 5% depending on creditworthiness. This ARM will first adjust at the beginning of the 61st month of the loan and will thereafter subsequently adjust every 12 months; Maximum limits on interest rate changes are 2% on the first-rate change and 2% on subsequent changes. This ARM has floor rate of 1.99% and a cap rate of 7.29%. Rates shown are for 45-day locks on purchase or refinance of a single-family primary residence; 75% LTV, full doc, with FICO score(s) of 730 plus. Conforming APR based on a $400,000 loan amount with a monthly principal and interest payment of $1,476.48 for a 5/1 (30-year) ARM or $1,632.96 for a 30-year fixed rate loan. Possible rate adjustments for loan amounts exceeding $625,000. All loans are subject to approval; and rates, terms, and conditions subject to change. APR = Annual Percentage Rate. ARM = Adjustable Rate Mortgage. LTV = Loan to Value. 1.99% 5/1 rate and 2.75% 30-year fixed rate is for loans with 75% LTV or below. Rates listed above are subject to change at any time and is our preferred rate for FICOs 730 and above. Contact Edwards FCU Lending Department for current rates. All loans made subject to credit worthiness and income and property verification. Additional rates and terms are available. Edwards Federal Credit Union is an Equal Housing Opportunity Lender.

Loan TypeAPRTerm
Rates effective October 1, 2020
FIRST MORTGAGE LOANSAPR* As Low AsTERM (and/or Maximum Loan Amount)
Contact our Real Estate Lending Professionals.Rates change on a weekly basis.Call 661-952-5945 for more info.
 
HOME EQUITY LINE OF CREDIT (HELOC)APR* As Low AsTERM (and/or Maximum Loan Amount)
Up to 90% financing of primary residence’s appraised value. Initial draw of $10,000. Future advances of $500 minimum.Prime + 0.0% to Prime + 3.5**Draw period of 60 months. Up to 240 months term. Maximum $250,000.
 
HOME EQUITY LOAN, CLOSED-ENDAPR* As Low AsTERM (and/or Maximum Loan Amount)
Up to 80% of primary residence’s appraised value, less any other liens.7.50%120 months. $50,000 maximum.
 
Instructions for obtaining a HELOC or Home Equity Loan, Closed-End
1. Copy of Deed of Trust
2. Current First Mortgage Statement of Account
3. Copy of current Homeowners Insurance
4. Verification of employment and/or income may be necessary
 
Home Equity Loan (Closed-end) Example
$10,000 borrowed at 7.00% APR, 30 day due date
120 month term = monthly payments of approximately $116.15
Total finance charges = $3937.14
Total repaid is $13,937.14
 
All loans are subject to credit approval. Loan rates, terms and conditions are subject to change without notice.
Your actual loan rate may vary from the rates shown, and will be based on an evaluation of your credit profile.
*APR = Annual Percentage Rate
**Variable rate tied to the Prime Rate as published in the Wall Street Journal, rounded to the next 0.125%. This rate is changed quarterly. Maximum lifetime rate of 18%.

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