Home Loans

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Home Loans

There's no place like home.

  • Lower starter rates make paying easier
  • No prepayment penalty fees

Adjustable Rate Mortgages (ARMs)

  • Available as 1/1 ARM, 3/1 ARM, 5/1ARM, or 7/1 ARM
  • Financing for co-ops, condos, and one- to four-family homes
  • Minimum loan amount of $35,000
  • Maximum loan amount of $750,000
  • Financing up to 80%
  • 30-year term for primary residences; 15-year term for second homes
  • ActorsFCU Savings (Share) Account required

1/1 ARM

  • Interest rate fixed for first year
  • Lifetime cap is your starter rate + 6%
  • Annual cap of 1%
  • Check rate chart for current starter rate
  • ActorsFCU Savings (Share) Account required

3/1 ARM, 5/1 ARM, 7/1 ARM

  • Interest rate fixed for first 3 years, 5 years, or 7 years, respectively
  • Lifetime cap is your starter rate + 6%
  • Annual cap of 1%
  • Check rate chart for current starter rate
  • ActorsFCU Savings (Share) Account required

Annual rate adjustment:

Regular ARM: lower of either ActorsFCU’s annual cap or by adding our margin of 2.5% to the one-year CMT (Constant Maturity Treasury)

Jumbo ARM: lower of either ActorsFCU’s annual cap or by adding our margin of 2.75% to the one-year CMT (Constant Maturity Treasury)

 

Benefits of ActorsFCU ARMs

  • Lower starter rates make it easier to start paying down the mortgage
  • Additional payments reduce the principal, which reduces the amount of interest paid over time and may reduce future payments 
  • If rates go down, ARMs are adjusted down. Fixed-rate mortgages are locked even if the average rates on mortgages drop
  • No prepayment penalty fees

 

Contact Lending Services Department for questions about mortgage terms and pre-qualification at 212.869.8926, Option 4

Supporting documents should be emailed to: Mortgages@ActorsFCU.com

NMLS #421382.
Actors Federal Credit Union follows the standards for licensing and registration established by the Safe and Fair Enforcement for Mortgage Licensing Act of 2008. Employees who originate residential mortgage loans and home equity lines of credit are registered with the Nationwide Mortgage Licensing System and Registry.
 

Home Equity Line of Credit 

Terms:

  • Minimum credit line of $25,000 and maximum of $250,000
  • 20-year term with 5-year draw and 15-year payback
  • Adjustable rate based on prime
  • 75% LTV on houses, condos, and co-ops
  • Lifetime rate cap of 18%
  • Rates subject to change without notice
  • ActorsFCU Savings (Share) Account required
Disclosures:

These disclosures contain important information about Actors Federal Credit Union's Home Equity Line of Credit product.  You should read them carefully and keep a copy for your records.  By clicking the "Apply Now" button below, you are acknowledging receipt of, and agreement with the disclosures provided above.

 

For current terms, contact our Real Estate Lending Department at 212.869.8926, option 4

NMLS #421382
Actors Federal Credit Union follows the standards for licensing and registration established by the Safe and Fair Enforcement for Mortgage Licensing Act of 2008. Employees who originate residential mortgage loans and home equity lines of credit are registered with the Nationwide Mortgage Licensing System and Registry.

Adjustable Rate Mortgages (ARMs)

Term Starter Rate
1/1 ARM 2.99%
1/1 Jumbo ARM 3.49%
3/1 ARM 3.24%
3/1 Jumbo ARM 3.74%
5/1 ARM 3.49%
5/1 Jumbo ARM 3.99%
7/1 ARM 3.99%
7/1 Jumbo ARM 4.49%

 

 

Home Equity Line of Credit (HELOC)

Term Rate
20 Year Prime Rate for Life

 

Rates and terms subject to change without notice. As of 08/23/2019