Fixed-Rate Mortgages
Enjoy nine different ways to own a home at great low rates!
LGFCU offers several fixed-rate mortgage loans ranging from
15-year to 30-year terms. Best of all, private mortgage insurance (PMI) is no longer required on any of them! We even feature a special mortgage that helps you save money and leave a subprime mortgage behind.
AllSavers Mortgage
This fixed-rate mortgage provides the borrower an opportunity to establish a savings account when the mortgage is originated. After the base loan amount is established, an additional 10% is loaned to set up a share term certificate (STC) in the borrower's name. The STC serves as collateral for the AllSavers mortgage in addition to the borrower's property.
The STC accrues interest at the same rate as set on the loan. Interest is compounded monthly and the proceeds are released to the borrower 10 years after origination. These funds could be used to pay for educational expenses, home improvements, pay down the mortgage or any other purpose the borrower may have in mind. This is a great loan to consider if you are currently trapped in a subprime mortgage.
AllSavers Mortgage Highlights
- Maximum term 15 years
- Financing for primary residences up to 100% for purchases and no-cash out refinances
- Only single family homes are eligible for this program
(i.e. vacation homes and rental properties are not eligible) - Property must be located in North Carolina
- Maximum total loan amount $400,000
- Origination fee of .5% of loan amount with a cap of $750
- PMI not required
- Rate subject to change daily
- Application rate may be reserved for 60 days
- Financing for primary residences up to 95 percent
- Fixed principal and interest payment for the life of the loan
- PMI not required
- Maximum term 30 years
- Origination fee 1% of loan amount
- Application rate may be reserved for 30 days
- Contact the Call Center at 888.732.8562 or
- Visit your local branch
