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Conventional

30 Yr Fixed: %

15 Yr Fixed: %

5/1 ARM : %

GA Dream: %

FHA

30 Yr Fixed: %

15 Yr Fixed: %

Jumbo
(above $417,000)

 

30 Yr Fixed: %

15 Yr Fixed: %

5/1 ARM:     %

*Rates are subject to change on a daily basis and will vary based on the particulars of your loan. Call us for a current quote.

 

Emory ACU Home

Emory Alliance Credit Union offers a variety of mortgage loans.  When it comes to buying a home, refinancing your existing home, or using some of your home's equity, we can offer the mortgage that best fits your needs.

By choosing Emory Alliance CU as your preferred lender, you'll save money and time.  These are some of the cost-saving advantages:

  • Competitive rates and no-points options
  • Bi-weekly payment options
  • No pre-payment penalties
  • Low origination fees
  • No intangible tax fees (for credit union members only)

Emory Alliance CU also offers a variety of competitive Home Equity Loans.  To apply for either product, click on Loan Express.

  • Home Equity Line of Credit, Variable Rate
  • Home Equity, Fixed Rate

The following list highlights just a few of the many mortgage products we offer.  If you do not see one that meets your needs, please call our Mortgage Loan Officer to assist you.

 
Conventional Loans
FHA Loans
Georgia Dream
Single Close Construction Loans
Jumbo Loans

Conventional Loans

Conventional loans, also referred to as conforming, offers a number of options to the borrower.  These are just a sample of the options you can find in a conforming loan:

  • Flexible short or long term loans.
  • Fixed-rate and adjustable rate loans.  These loans meet Fannie Mae and Freddie Mac loan limits, property and borrower guidelines.
  • Loan limits are generally higher than FHA or VA loans.
  • Maximum loan to value is currently 97%.
  • On a fixed rate loan, the rate does not change over the life of the loan and principal and interest remains constant over the life of the loan.
  • On an adjustable rate loan, the interest rate and payments can change periodically, based on the prevailing market's cost of money.

Maximum Amount: $417,000
 

Terms available for 5, 10, 15, 20, 30 and 40 years.


FHA Loans

Government insured/guaranteed long-term, fixed rate and adjustable loans.  The maximum loan to value is currently 96.5%.

Term: 30 years   Maximum Amount: $346,250

Georgia Dream

The Georgia Dream Homeownership Program provides first time homebuyers with:

  • Low, fixed interest rate, 30-35 year mortgages
  • Up to 97% financing
  • Flexible approval guidelines for Conventional, FHA, VA, or USDA-RD mortgage loans
  • Interest Only, 35 Year First Mortgage (Affordable Advantage)
  • Very low closing costs
  • Involuntary unemployment, accidental disability, and accidental death and dismemberment insurance available

 

It's easy to qualify:

  1. Your total annual household income cannot exceed the following limits based on the number of persons living in the home and location of the home.

    One or two persons:       $58,000 (Statewide)  $68,000 (Atlanta MSA)
    Three or more persons:  $67,000 (Statewide)  $78,000 (Atlanta MSA)

  2. You must be a first time homebuyer or not have owned a home in the past three years, or purchase a home in a targeted area to qualify for first time mortgage financing.

  3. The Purchase price of the home that will be financed by the Georgia Dream Program may not exceed the purchase price limits below:

Statewide    $200,000          Atlanta MSA   $250,000

For more information about the Georgia Dream Program visit:
http://www.dca.state.ga.us/housing/Homeownership/programs/GeorgiaDream.asp


Single Close Construction Loans

Discontinued Until Further Notice

How you finance the construction of your new home is one of the most important things to consider.  The Single Close Construction Loan takes you from groundbreaking to move-in in one easy process.  Trained construction mortgage specialists will be assisting you and your builder/contractor so that your home construction keeps moving smoothly with no surprises along the way.

  • Choose from several loan programs, many at rates below what is normally charged for interim construction financing.
  • Finance up to 95% of appraised value.  You may also finance closing costs for a zero or minimal down payment.
  • Pay interest monthly or finance it into the loan balance during the interest-only phase.
  • Lot equity or items paid in advance may be used as credit toward the down payment.
  • Convenient - 12-18 months of interest-only payments, with time to build your new home and sell your current one.  No need to move twice.


Term: 30 years   Maximum Amount: $3,500,000

Jumbo Loans

Loan amounts above $417,000 are considered Jumbo loans.  Generally the applicant can borrow up to 95% of the purchase price or value of the home.  Loan amounts above $1,000,000 are available.