Mortgages

Get the financing you need and the member benefits you deserve.

Why a LUSO mortgage?

Whether you’re house-hunting, downsizing to a condo, or buying your first home, you can choose from 10-year conforming fixed-rate mortgages to 30-year adjustable-rate mortgages. Take advantage of the benefits of being a member-owner, including:

  • In-house underwriting and guaranteed fast turnarounds
  • Guidance from our lending specialists every step of the way

Conforming Fixed Rate Mortgage / New Construction / Condo

As of 7/18/2024

PointsTermRateAPRPayment per $1,000 borrowed
010 Year5.875%6.095%$11.04
015 Year5.875%6.030%$8.37
020 Year6.125%6.249%$7.24
025 Year6.375%6.482%$6.67
030 Year6.500%6.596%$6.32
110 Year5.750%6.188%$10.98
115 Year5.750%6.058%$8.30
120 Year6.000%6.247%$7.16
125 Year6.250%6.462%$6.60
130 Year6.375%6.565%$6.24
210 Year5.625%6.278%$10.91
215 Year5.625%6.085%$8.24
220 Year5.875%6.243%$7.09
225 Year6.125%6.441%$6.52
230 Year6.250%6.532%$6.16

Conforming Jumbo Fixed Rate Mortgage / New Construction / Condo

As of 7/18/2024

PointsTermRateAPRPayment per $1,000 borrowed
010 Year6.375%6.419%$11.29
015 Year6.375%6.406%$8.64
020 Year6.625%6.650%$7.53
025 Year6.875%6.897%$6.99
030 Year7.000%7.019%$6.65
110 Year6.250%6.515%$11.23
115 Year6.250%6.437%$8.57
120 Year6.500%6.651%$7.46
125 Year6.750%6.880%$6.91
130 Year6.875%6.992%$6.57
210 Year6.125%6.608%$11.16
215 Year6.125%6.467%$8.51
220 Year6.375%6.650%$7.38
225 Year6.625%6.863%$6.83
230 Year6.750%6.963%$6.49

Fees vary and may be due at application

Biweekly mortgage payment are available at a rate increase of 0.25%.

APR: Annual Percentage Rate is based on a $150,000.00 loan amount; Jumbo loan APR is based on a $766,551.00 loan amount.

Down Payment Requirements: a 20% down payment is required; less than a 20% down payment will require PMI Insurance; less than a 30% down payment will require real estate tax escrow.

Loan terms and conditions, including interest rate and/or fees, are subject to change due to the resulting risk rating assigned by the Credit Union’s secondary market investor. Factors used in determining risk ratings include certain loan characteristics such as points, loan amount, loan-to-value, borrower’s credit, property type, occupancy, and loan purpose.

Jumbo loan limits may differ by County per FNMA Guidelines.

Construction Term Policy: The construction phase is limited to a maximum (12) month period; 10% down payment required (10% may be in reserves or land equity).

Non-conforming rates available.

20-Year Amortization Conforming Adjustable Rate Mortgage / Condo

As of 7/18/2024

PointsTermRateAPRIndexCapMargin
05/16.000%7.770%1 YR Treasury2/6+2.75%

20-Year Amortization Conforming Jumbo Adjustable Rate Mortgage / Condo

As of 7/18/2024

PointsTermRateAPRIndexCapMargin
05/16.500%8.140%1 YR Treasury2/6+3.25%

Owner Occupied / Max Loan $766,550.00

Fees vary and may be due at application.

Biweekly mortgage payment are available at a rate increase of 0.25%.

APR: Annual Percentage Rate is based on a $150,000.00 loan amount; Jumbo loan APR is based on a $726,201.00 loan amount; 20 YR amortization.

Rates are subject to increase after consummation/first adjustment.

Down Payment Requirements: a 20% down payment is required; less than a 20% down payment will require Private Mortgage Insurance (PMI); less than a 30% down payment will require real estate tax escrow.

Rate Lock Policy: LFCU will rate lock for 45 days at no charge. (You will have the option to extend the lock period for an additional fee).

Jumbo loan limits may differ by County per FNMA Guidelines.

Construction Term Policy: The construction phase is limited to a maximum (12) month period; 10% down payment required (10% may be in reserves or land equity).

Non-conforming rates available.

30-Year Amortization Adjustable Rate Mortgage / New Construction / Condo

As of 7/18/2024

PointsTermRateAPRIndexCapMargin
05/16.250%7.795%1 YR Treasury2/6+2.750%
07/16.500%7.820%1 YR Treasury2/6+ 2.750%
15/16.125%7.887%1 YR Treasury2/6+2.750%
17/16.375%7.912%1 YR Treasury2/6+ 2.750%
25/16.000%7.981%1 YR Treasury2/6+2.750%
27/16.250%8.006%1 YR Treasury2/6+ 2.750%

30-Year Amortization Jumbo Adjustable Rate Mortgage / New Construction / Condo

As of 7/18/2024

PointsTermRateAPRIndexCapMargin
05/16.750%8.208%1 YR Treasury2/6+3.250%
07/17.000%8.234%1 YR Treasury2/6+3.250%
15/16.625%8.302%1 YR Treasury2/6+3.250%
17/16.875%8.328%1 YR Treasury2/6+3.250%
25/16.500%8.397%1 YR Treasury2/6+3.250%
27/16.750%8.423%1 YR Treasury2/6+3.250%

APR: APR: Annual Percentage Rate is based on a $150,000.00 loan amount; Jumbo loan APR is based on a $766,551.00 loan amount; 30- YR amortization.

Rates are subject to increase after consummation/first adjustment.

Down Payment Requirements: a 20% down payment is required; less than a 20% down payment will require PMI Insurance; less than a 30% down payment will require real estate tax escrow.

Jumbo loan limits may differ by County per FNMA Guidelines.

Construction Term Policy: The construction phase is limited to a maximum (12) month period; 10% down payment required (10% may be in reserves or land equity).

Non-conforming rates available.

Biweekly option excludes 7/1 Special.

Land Loan

As of 7/18/2024

TypePointsTermRateAPRIndexCAPColumn
Buildable Land Requires 20% Down Payment0 Points3/1 MAX 15-YR Amortization7.500%10.165%1 YR Treasury2/6+5.500%
Raw Land Requires 30% Down Payment0 Points3/1 MAX 10-YR Amortization8.500%11.058%1 YR Treasury2/6+6.500%

APR:  Annual Percentage Rate is based on a $150,000.00 loan amount. 

Rates are subject to increase after consummation/first adjustment.

 

Make the most of LUSO membership.

Maximize the benefits of banking with LUSO Federal Credit Union.

Online Banking

Go Digital

Schedule a Meeting

Book Now