Community First Credit Union offers a variety of loan programs to meet your needs. Community First Credit Union lends throughout California to any individual(s) who becomes a member of the credit union. It's easy to be a member - just live, work or own property in Marin, Mendocino, Napa or Sonoma County! Our experienced Loan Officers work with the leading lenders in the industry to provide a variety of mortgage products:
 
Fixed - Conventional
Adjustable - Conventional
FHA/VA/USDA
Adjustable 5/1 CMT - Portfolio
Closed End Second Mortgage
Home Equity Line of Credit Variable (Primary Residence or Second Home)
Home Equity Line of Credit - Variable (Investment Property)
Home Equity Line of Credit - 5 Year Fixed (Primary Residence or Second Home)
Home Equity Line of Credit - 5 Year Fixed (Investment Property)

Rates last updated on Friday, November 27, 2015

Fixed - Conventional

Fixed rate and term, fully amortizing, conventional conforming first lien mortgage program.  This Fannie Mae or Freddie Mac mortgage product is available in 30, 25, 20, 15 or 10 year terms for your primary residence, second home or investment property.

Term: 30 years   Maximum Amount: $417,000
 

Loans will be sold on the secondary market and must meet all investor (Fannie Mae / Freddie Mac /Other) underwriting guidelines including; minimum FICO score, income and employment, assets/reserves, *loan-to-value and debt-to-income ratio's.

Private Mortgage Insurance is required on all conventional conforming mortgages with loan-to-value ratio's of greater than 80%


Adjustable - Conventional

This is an intermediate term adjustable-rate mortgage loan program with an initial fixed rate period of 3, 5, 7, or 10 years depending on the product selected.  Upon expiration of the fixed-rate term the program allows for increases or decreases to the interest rate on an annual basis. 

**This adjustable product has a fully amortized principal and interest payment and will not negatively amortize.

Term: 30 years   Maximum Amount: $417,000
 

Loans will be sold on the secondary market and must meet all investor (Fannie Mae / Freddie Mac /Other) underwriting guidelines including; minimum FICO score, income and employment, assets/reserves, *loan-to-value and debt-to-income ratio's.

Private Mortgage Insurance is required on all conventional conforming mortgages with loan-to-value ratio's of greater than 80%


FHA/VA/USDA
CFCU offers FHA, VA and USDA loans - these loans offer low or no down payments with competitive interest rates.  All borrowers must meet the government or agency underwriting guidelines.

Term: 30 years   Maximum Amount: $417,000

Adjustable 5/1 CMT - Portfolio

This portfolio adjustable product is designed to assist borrowers with unique situations that may not quite meet the requirements of loans sold on the secondary market.

This intermediate adjustable-rate mortgage has an initial fixed rate period of 5 years. Upon expiration of the fixed-rate term the program allows for increases or decreases to the interest rate on an annual basis. 

**This adjustable product has a fully amortized principal and interest payment and will not negatively amortize.

Must meet CFCU internal underwriting guidelines. Contact one of our experienced Loan Officers to determine if our portfolio product is right for you!

Term: 30 years   Maximum Amount: $1,500,000

Closed End Second Mortgage
This is a one-time, lump-sum loan that provides all the money up front. You make monthly payments (just like a first mortgage) on an amount that amortizes the loan to pay it back in full by the end of the term. We offer a variety of terms, 5, 10, 15 and 20 years.

Term: 20 years   Maximum Amount: $500,000
 
The monthly mortgage payment is calculated based on a fixed interest rate for the chosen term: 60 months at 5.99% 120 months at 6.75% 180 months at 7% 240 months at 7.25%. Add .75% for investment properties Maximum combined loan-to-value ratio is 80% for owner occupied properties; 75% maximum for investment properties. $500.00 processing fee applies on all transactions; appraisal, title and escrow fees may be required if loan amount exceeds $249,000 and/or loan to value ratio exceeds 65%.

Home Equity Line of Credit Variable (Primary Residence or Second Home)
This is a revolving credit loan. You can choose when and how often to borrow against the equity in your property; up to an established dollar limit. You make payments only on the amount you have drawn from the equity line. The draw period is 10 years and the repayment period is 15 years, total term is 25 years.

Term: 25 years   Maximum Amount: $500,000
RatesAPRPoints
5%4.764%0%
 
The monthly mortgage payment is calculated on a 180 month term and is a fully amortizing principal and interest payment. (not interest only) The interest rate will never go below the floor of 5% and will only increase should Prime + .50% move above 5%. Maximum combined loan to value ratio is 80%. $500.00 processing fee applies on all transactions; appraisal, title and escrow fees may be required if loan amount exceeds $249,000 and/or loan to value ratio exceeds 65%.

Home Equity Line of Credit - Variable (Investment Property)
This is a revolving credit loan. You can choose when and how often to borrow against the equity in your property; up to an established dollar limit. You make payments only on the amount you have drawn down from the equity line. The draw period is 10 years and the repayment period is 15 years, total term is 25 years.

Term: 25 years   Maximum Amount: $500,000
RatesAPRPoints
5.75%5.09%0%
 
The monthly mortgage payment is calculated on a 180 month term and is a fully amortizing principal and interest payment. (not interest only) The interest rate will never go below the floor of 5.75% and will only increase should Prime + 1.25% move above 5.75%. Maximum combined loan to value ratio is 75%. $500.00 processing fee applies on all transactions; appraisal, title and escrow fees may be required if loan amount exceeds $249,000 and/or loan to value ratio exceeds 65%.

Home Equity Line of Credit - 5 Year Fixed (Primary Residence or Second Home)
This is a revolving credit loan. You can choose when and how often to borrow against the equity in your property; up to an established dollar limit. You make payments only on the amount you have drawn down from the equity line. The draw period (fixed rate period) is 5 years; the repayment period is 15 years during which time the rate is adjustable. total term is 20 years.

Term: 20 years   Maximum Amount: $500,000
RatesAPRPoints
5.99%5.99%0%
 
The monthly mortgage payment is calculated on a 180 month term and is a fully amortizing principal and interest payment. (not interest only) The interest rate during the initial 5 year fixed period is 5.99%; during the repayment period the interest rate will never go below the floor of 5.99% and will only increase should Prime + 1.25% move above 5.99%. Maximum combined loan to value ratio is 80%. $500.00 processing fee applies on all transactions; appraisal, title and escrow fees may be required if loan amount exceeds $249,000 and/or loan to value ratio exceeds 65%.

Home Equity Line of Credit - 5 Year Fixed (Investment Property)
This is a revolving credit loan. You can choose when and how often to borrow against the equity in your property; up to an established dollar limit. You make payments only on the amount you have drawn down from the equity line. The draw period (fixed rate period) is 5 years; the repayment period is 15 years during which time the rate is adjustable. total term is 20 years.

Term: 20 years   Maximum Amount: $5,000
RatesAPRPoints
6.74%7%0%
 
The monthly mortgage payment is calculated on a 180 month term and is a fully amortizing principal and interest payment. (not interest only) The interest rate during the initial 5 year fixed period is 6.74%; during the repayment period the interest rate will never go below the floor of 6.74% and will only increase should Prime + 1.25% move above 6.74%. Maximum combined loan to value ratio is 75%. $500.00 processing fee applies on all transactions; appraisal, title and escrow fees may be required if loan amount exceeds $249,000 and/or loan to value ratio exceeds 65%.



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $521,000 with closing costs of $10,420. Your actual APR may be different depending upon these factors.