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Avadian Credit Union offers a variety of mortgage options to meet your needs. We work with the leading lenders in the industry to provide:
 
Conventional 30 Year Fixed
Conventional 15 year Fixed Rate
Conventional 10 year Fixed Rate
FHA 30 Year Fixed Rate
FHA 15 year Fixed Rate
VA 30 Year Fixed Rate
VA 15 Year Fixed Rate
USDA Rural Development 30 Year Fixed
100% Purchase, Avadian Portfolio Loan
7/1 Libor ARM
5/1 Libor ARM

Conventional 30 Year Fixed

Purchase loans up to 97% of the appraised value. Refinance loans up to 95% of the appraised value. Interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 30 years   Maximum Amount: $424,100

Conventional 15 year Fixed Rate

Purchase loans up to 97% of the appraised value. Refinance loans up to 95% of the appraised value. Interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 15 years   Maximum Amount: $424,100

Conventional 10 year Fixed Rate

Purchase loans up to 97% of the appraised value. Refinance loans up to 95% of the appraised value. Interest rate remains the same for entire loan term. Not all conventional, fixed-rate mortgages remain in-house. Some are transferred to another servicer. A Mortgage Loan Officer will discuss, in detail, what option would be best for you.

Loan Requirements: *Appraisal is typically required *Homeowner's Insurance *Active Savings in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 10 years   Maximum Amount: $424,100

FHA 30 Year Fixed Rate
An FHA mortgage is provided by an FHA approved lender and backed by the Federal Housing Administration. It’s an attractive option for first-time homebuyers, those seeking a smaller down payment option or homeowners who have experienced past credit issues. Typically, FHA mortgages allow for a lower percent down payment and offer numerous credit and guideline enhancements extending home-ownership beyond conventional lending guidelines. Loan Requirements: *No income limits *Flexible underwriting *1-4 Family Financing *600 minimum credit score *Do not have to be first time homebuyers *Active Savings Account in good standing *Homeowner's insurance and taxes required *3.5% minimum investment required and may be from a qualified gift *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers

Term: 30 years   Maximum Amount: $271,050

FHA 15 year Fixed Rate
An FHA mortgage is provided by an FHA approved lender and backed by the Federal Housing Administration. It’s an attractive option for first-time homebuyers, those seeking a smaller down payment option or homeowners who have experienced past credit issues. Typically, FHA mortgages allow for a lower percent down payment and offer numerous credit and guideline enhancements extending home-ownership beyond conventional lending guidelines. Loan Requirements: *No income limits *Flexible underwriting *1-4 Family Financing *600 minimum credit score *Do not have to be first time homebuyers *Active Savings Account in good standing *Homeowner's insurance and taxes required *3.5% minimum investment required and may be from a qualified gift *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers

Term: 15 years   Maximum Amount: $271,050

VA 30 Year Fixed Rate
A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses- in some cases. VA Loans have many benefits not offered by conventional loans. Unlike conventional loans, VA Home Loans do not have private mortgage insurance requirements. VA Loans usually have more competitive rates than conventional loans. Loan Requirements: *No income limits *1-4 Family Financing *Flexible underwriting *Active Savings Account in good standing *Do not have to be first time homebuyers *Homeowner’s insurance and taxes required *100% financing available for loans up to $424,100 *No minimum investment required for loans up to $424,100 *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of 3 open trade lines active for the last 2 years

Term: 30 years   Maximum Amount: $424,100

VA 15 Year Fixed Rate
A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses- in some cases. VA Loans have many benefits not offered by conventional loans. Unlike conventional loans, VA Home Loans do not have private mortgage insurance requirements. VA Loans usually have more competitive rates than conventional loans. Loan Requirements: *No income limits *1-4 Family Financing *Flexible underwriting *Active Savings Account in good standing *Do not have to be first time homebuyers *Homeowner’s insurance and taxes required *100% financing available for loans up to $424,100 *No minimum investment required for loans up to $424,100 *Loan approval based on creditworthiness, ability to repay, and collateral value *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of 3 open trade lines active for the last 2 years

Term: 15 years   Maximum Amount: $424,100

USDA Rural Development 30 Year Fixed
The USDA Rural Development Home Loan is a flexible zero down payment government guaranteed program that is growing in popularity. It is designed to promote homeownership to residents in rural communities with low to moderate incomes and who have limited savings for a down payment. With the USDA Rural Housing Program, your home must be located in a rural area. This loan program does have household income limitations. Your Loan Originator can provide you more information regarding the income limitations and if the property you are interested in will qualify for this program, please provide the exact home address for the property in order to obtain the most accurate information available. Loan Requirements: *1-4 Family Financing *Flexible underwriting *100% financing available *Active Savings Account in good standing *Do not have to be first time homebuyers *The home must be located in a designated rural area *Loan approval based on creditworthiness, ability to repay, and collateral value *Homeowner’s insurance and taxes are required to be held in an escrow account by lender *Members must be U.S. Citizens, Permanent Resident Aliens, or Non-permanent Aliens with valid Tax ID Numbers *Must meet USDA adjusted annual household income limits *Credit Report Requirements: At least one credit score reporting, no late payments in the last 12 months, and minimum of two open trade lines active for at least 12 months

Term: 30 years   Maximum Amount: $424,100

100% Purchase, Avadian Portfolio Loan

Purchase loans up to 100% of the sales price. This is an Avadian Serviced mortgage, available in several loan terms including fixed rate and Adjustable Rate Mortgages.

Loan Requirements: *No income limits *Minimum credit score: 720 Maximum debt-to-income ratio: 43%*Active Savings account in good standing *Do not have to be first time homebuyers *Appraisal is typically required *Loan approval based on creditworthiness, ability to repay, and collateral value *Mortgage Insurance is required. *2 months of total payments from member's own funds is required for reserves *Purchases only (no refinances) *Homeowner’s insurance required *Property type: 1 unit single family attached or detached Owner-occupied (no second homes or investment properties) *Seller Contributions and Concessions - Maximum of 3% based upon the lesser of property sales price or appraised value.

Term: 15 years  

7/1 Libor ARM
Interest Rate remains the same for 7 years and then adjusts yearly afterwards. Based on the 1 Year Libor Rate. Loan Requirements: *Homeowner’s insurance *Active Savings Account in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 30 years  

5/1 Libor ARM
Interest Rate remains the same for 5 years and then adjusts yearly afterwards. Loan Requirements: *Homeowner’s insurance *Active Savings Account in good standing *Loan approval based on creditworthiness, ability to repay, and collateral value

Term: 30 years  


Unless otherwise indicated, the APR calculations for these products, are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $424,100 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $424,100 with closing costs of $8,482. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.