Our branches and contact center will be closed on Monday, 5/25/15, in observance of Memorial Day.
Digital Banking, ATMs, and 24-Hour Telephone Banking will be available as usual.
- No application fees.
- No pre-payment penalties.
- Financing up to 95% of home value.
- Cash out up to 80% of home value.
- Consolidate first and second mortgages and Home Equity Lines of Credit.
- Offering fixed and adjustable rate mortgages (ARMs).
- Portfolio Lender.
- Documentation will be required.
5/1 ARM (Adjustable Rate Mortgage)**
- Zero down payment purchases
- 90% cash out refinances (Use a cash-out refinance for home improvements, school tuition, debt consolidation, vacations, or other purchases)
- Acceptable Debt-to-income ratios higher than conventional loans
- Fixed and ARMs available
- No monthly mortgage insurance required
- No prepayment penalty
Home Loan Resources
- Visit our FAQ page for detailed information about our home loans.
- Having financial difficulty? We want to help.
- Protect your investment with Homeowners Insurance at an exclusive member discount.
- Save for a down payment on a home with Savings, Money Markets, or Certificates.
** 5/1 ARM Terms & Conditions
As of January 13, 2015, the start rate is 2.750% fixed for 5 years with an APR of 2.914% and will adjust annually thereafter by no more than 2 percentage points based on the 1-year TCM index plus a margin of 2.75% with a lifetime maximum rate of 5% above the start rate. This loan offer is only for owner-occupied homes and subject to credit approval and satisfactory appraisal. Financing up to 80% LTV. No application fee. North Island Credit Union will pay your non-recurring closing costs including but not limited to: lender’s title insurance, title services, appraisal, tax service, credit report, flood certification and recording fees up to an amount of $3,200. If you pay this loan off earlier than the 36-month anniversary date of the loan closing, you will be obligated to pay North Island Credit Union a prorated amount of the closing costs. This amount will be added to any loan payoff amount requested prior to the 36-month anniversary date. This does not include pre-paid interest, homeowner’s insurance, initial escrow deposit, owner’s title insurance, or city and/or county transfer tax. Other restrictions may apply. Offer good for a limited time only and is valid on owner-occupied purchases or refinances from another institution and does not apply to the refinance of an existing North Island Credit Union mortgage. Programs, rates, terms, and conditions are subject to change. Multiple fixed-rate loan options are also available.