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Metro Credit Union offers a wide variety of home loans. With purchase loans, refinance options and second mortgages, we are able to handle all of your home financing needs.
Looking to purchase a new home? You may even be able to purchase your home with no down payment, allowing you to finally own the home of your dreams.
Already own your home? Metro has several options available to lower your interest rate, convert to a fixed rate mortgage, or use your existing equity to achieve your financial goals.
So contact us today to find your perfect mortgage! |
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Fixed Rate |
Fixed rate mortgages are the most common at Metro 1st Mortgage, and a solid choice for overall financial success. A fixed interest rate mortgage will provide a steady and consistent amortization, one of equal monthly payments that remain the same for as long as your loan exists. With a fixed rate mortgage, you will not have to worry about the market negatively affecting your payments.
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Fixed Rate Second Mortgages |
Metro’s fixed 2nd mortgages allow you to borrow up to 100% of your home’s value. With a fixed interest rate, you have the peace of mind knowing that your interest rate will not change. Use your home’s equity for debt consolidation, home improvements, and much more. And with the flexibility of an amortization of up to 30 years, your payment is one you know you can afford. |
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Home Equity Line of Credit - HELOC |
A HELOC is another type of a second mortgage loan. The difference between this loan and a standard second mortgage is that a HELOC allows a borrower to establish a credit line based on the equity in your home. The monthly payment to principal and interest depends on the balance of your HELOC, the interest rate and the remaining term. A HELOC has an interest rate that varies with the Prime Rate. For added convenience you can also access your HELOC through a VISA card. |
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Alternative Lending Programs |
You don’t have to have to "fit inside the box" to qualify for a mortgage loan with Metro Credit Union. Metro offers several loan programs for borrowers who have had credit challenges in the past. We also offer alternatives for self-employed borrowers who may not qualify for full income documentation loans. |
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FHA & VA Loans |
Metro does Government loans too! Both FHA and VA loans offer low or no down payment options. VA loans are offered only to those that have served in the armed forces, while FHA allows all borrowers to apply. |
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Adjustable Rate Mortgages |
Adjustable rate mortgages feature an interest rate that will increase or decrease based on the condition of the economy. Monthly payments will vary from year to year. You should consider this type of mortgage if you are planning to stay in a home for just a few years. An adjustable rate mortgage offers the benefit of a lower interest rate in the initial years of the mortgage, which means your payment is typically lower than that of a fixed rate mortgage during the introductory period. |
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Bridge Loans |
Purchasing a new home often involves selling your existing home. A Bridge Loan allows you to tap into the equity from your current home to use as a down payment on the new purchase until your current home sells. Bridge loan terms may vary. |
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Applying For Mortgages |
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