Mortgage Loans NMLS# 466209
OFCU’s mortgage programs are available on homes in
Otero, Lincoln, Chaves, Eddy and Dona Ana counties.
Maximum loan amount $700,000 : Maximum term 30 years
First Time Home Buyers
80% loan to value without PMI*
97% loan to value with PMI*
Conventional Fixed Rate
80% loan to value without PMI*
97% loan to value with PMI*
Veteran Administration (VA)
Loan to value determined by VA Guidelines (minimum of 25% of loan must be guaranteed by VA)
Non-Occupied Conventional
75% loan to value without PMI*
At OFCU, our members come first! We make sure you are getting the right loan for your needs.
Purchasing a home is one of the most important financial decisions you’ll ever make and looking at house after house for that perfect home is enough of a task.
You should no have to worry about getting the right mortgage.
Take advantage of our:
- Pre-Qualification
- Great Competitive Rates
- No Prepayment Penalties
- Refinancing Programs
- Home Equity Loans
- Full disclosure of all terms and conditions
- Easy loan payments through automatic deductions
Apply Online Today!
*PMI = Property Mortgage Insurance
Home Equity
If it is time for home improvements, a family vacation, a new vehicle, consolidating high-interest debt, paying for tuition or whatever your needs are, OFCU offers you great rates and terms on its Home Equity Loans.
Line of Credit and Closed End loans available!
80% of the AVM or appraised value (less than five years old), less the first mortgage encumbrance, if any, not to exceed a maximum loan balance of $250,000.
Non-Owner Occupied & Closed End HELOC
75% of the AVM or appraised value (less that five years old), less the first mortgage encumbrance, if any, not to exceed a maximum loan balance of $250,000.
Vacant Land
75% – Fully Developed
65% – Improved Property
50% – Raw Acreage
| Term | Maximum Loan Amount | APR |
|---|---|---|
| 10 Year | $100,000 | 7.00% |
Equal Housing Lender. Maximum loan to value is 97%. All loans subject to credit approval. Contact OFCU’s Mortgage Department for details.
Example: A vacant land loan could be $584 per month for a $50,000 loan on approved credit at 7.00% for 10 years. APR subject to change.