Clearview Federal Credit Union - Mortgage Information

First Mortgages*

Can help you buy that dream home or refinance your current mortgage at a better rate1. We have a variety of First Mortgage programs, contact our experts for more information. First Mortgages are available with either a fixed or adjustable rate.

Adjustable Rate Mortgages

Unlike traditional fixed-rate mortgages that feature the same rate for the life of the loan, our adjustable rate mortgage features an interest rate that changes periodically. Rates on our ARMs change every three, five or seven years, based on your preference, allowing more flexibility on your loan. An ARM can also prove useful to members who don't plan on living in one location for a long period of time or that relocate through 
their careers.

Early in the loan, interest rates on an ARM are approximately two or three points below our conventional fixed-rate mortgages, which make them an appealing budgeting option when buying a home. Our ARM product features rates for the initial term of three or five years (rates change daily).

10-Year Mortgages

Did you know that by the time it takes a child to reach the age of 10 you could also have your mortgage paid off? A 10-year Mortgage from Clearview is the answer for taking years off your house payment, while saving you tons of money in interest costs at the same time. A 10-year Mortgage also allows you to build equity faster and you own your home in a shorter amount of time. A lot of things can happen in a 10-year period - paying off your mortgage could be one of them!

<a name=HomeEquity> Home Equity Loans*

If you own your home, make your equity work for you. We will lend you up to 90% of the appraised market value of your home, minus what you owe on your First Mortgage. The minimum loan amount 
is $10,000.

<a name=HELOC>Line of Credit/Equity Plus Loan (Variable Rate)

Our Equity Plus Loan is a Line of Credit from which you advance funds as you need them for up to five years. It will be amortized over a 20 year period and the rate could change monthly throughout the duration of the loan. Your payments and interest will be calculated only on the amount you use. You have several ways to access this Line of Credit: <UL><LI> In person at any of our branch offices</li>
<LI> Personal Credit Union (PCU) Home Banking </LI>
<LI> TellerPhone</LI>
<LI> Overdraft Protection </LI></UL>
<a name=HELOCPlatinum> Line of Credit/Home Equity Platinum (Variable Rate)

This loan works like our Equity Plus Loan, except for the way you access the Line of Credit. A signature or Personal Identification Number (PIN) is required for all transactions. There is no penalty for early payoff. You can access your funds with:
<UL><LI> a Platinum credit card </LI>
<LI> Convenience checks </LI>
<LI> at any ATM that accepts Visa® </LI>
<LI> at any of our branch offices </LI></UL>Rest easy knowing we can also provide you with our MEMBERS CHOICE™ Borrower Security, a voluntary payment protection, which includes loss of life, disability and involuntary unemployment coverage. All of these protection products are available on our Home Equity loans and Lines of Credit, at a minimal cost to you.

Closing Costs**

Save extra money when you close on your mortgage loan at Clearview. We offer up to $500.00 in reimbursement on our fixed and variable rate Home Equity Loans, as well as our Line of Credit/Equity Plus Loans and Line of Credit/Equity Plus Platinum.

Land Purchase Loans

We also offer Land Loans to purchase residential land or to secure a loan. You may borrow $10,000 - $100,000 for up to 12 years with a 20% down payment. Closing costs vary from state-to-state.

<table border="0">
 <tr valign="top">
 <td>*</td>
 <td>First mortgages are only available in 48 continental states.</td>
 </tr>
 <tr valign="top">
 <td >**</td>
 <td>Closing cost amount will be rebated after you 
finance a minimum $10,000 in a new Home Equity Loan, add a minimum of $5,000 to the balance of an existing Clearview Home Equity Loan or after a minimum $5,000 initial HELOC advance is made. If a loan is refinanced with another financial institution or paid off within six months of origination, the rebate must be reimbursed to Clearview. Subject to change without notice.</td>
 </tr>
</table>

First Mortgages*
Can help you buy that dream home or refinance your current mortgage at a better rate¹. We have a variety of First Mortgage programs, contact our experts for more information. First Mortgages are available with either a fixed or adjustable rate.

Adjustable Rate Mortgages
Unlike traditional fixed-rate mortgages that feature the same rate for the life of the loan, our adjustable rate mortgage features an interest rate that changes periodically. Rates on our ARMs change every three, five or seven years, based on your preference, allowing more flexibility on your loan. An ARM can also prove useful to members who don't plan on living in one location for a long period of time or that relocate through
their careers.

Early in the loan, interest rates on an ARM are approximately two or three points below our conventional fixed-rate mortgages, which make them an appealing budgeting option when buying a home. Our ARM product features rates for the initial term of three or five years (rates change daily).

10-Year Mortgages
Did you know that by the time it takes a child to reach the age of 10 you could also have your mortgage paid off? A 10-year Mortgage from Clearview is the answer for taking years off your house payment, while saving you tons of money in interest costs at the same time. A 10-year Mortgage also allows you to build equity faster and you own your home in a shorter amount of time. A lot of things can happen in a 10-year period - paying off your mortgage could be one of them!

Home Equity Loans*
If you own your home, make your equity work for you. We will lend you up to 90% of the appraised market value of your home, minus what you owe on your First Mortgage. The minimum loan amount
is $10,000.

Line of Credit/Equity Plus Loan (Variable Rate)
Our Equity Plus Loan is a Line of Credit from which you advance funds as you need them for up to five years. It will be amortized over a 20 year period and the rate could change monthly throughout the duration of the loan. Your payments and interest will be calculated only on the amount you use. You have several ways to access this Line of Credit:

In person at any of our branch offices
Personal Credit Union (PCU) Home Banking
TellerPhone
Overdraft Protection

Line of Credit/Home Equity Platinum (Variable Rate)
This loan works like our Equity Plus Loan, except for the way you access the Line of Credit. A signature or Personal Identification Number (PIN) is required for all transactions. There is no penalty for early payoff. You can access your funds with:

a Platinum credit card
Convenience checks
at any ATM that accepts Visa^®
at any of our branch offices

Rest easy knowing we can also provide you with our MEMBERS CHOICE™ Borrower Security, a voluntary payment protection, which includes loss of life, disability and involuntary unemployment coverage. All of these protection products are available on our Home Equity loans and Lines of Credit, at a minimal cost to you.

Closing Costs**
Save extra money when you close on your mortgage loan at Clearview. We offer up to $500.00 in reimbursement on our fixed and variable rate Home Equity Loans, as well as our Line of Credit/Equity Plus Loans and Line of Credit/Equity Plus Platinum.

Land Purchase Loans
We also offer Land Loans to purchase residential land or to secure a loan. You may borrow $10,000 - $100,000 for up to 12 years with a 20% down payment. Closing costs vary from state-to-state.

First mortgages are only available in 48 continental states.

Closing cost amount will be rebated after you
finance a minimum $10,000 in a new Home Equity Loan, add a minimum of $5,000 to the balance of an existing Clearview Home Equity Loan or after a minimum $5,000 initial HELOC advance is made. If a loan is refinanced with another financial institution or paid off within six months of origination, the rebate must be reimbursed to Clearview. Subject to change without notice.