ARM Loans

First Time Homebuyers

Shopping for a home loan for the first time can be confusing. LGFCU helps members step-by-step and offers loans with competitive interest rates. Private mortgage insurance is not required.

  • Designed for first time home buyers and members who have not owned a home in the past 3 years.
  • Financing up to 100% of the purchase price with a maximum loan amount of $400,000.
  • Maximum term of 30 years.
  • $2,000 additional financing available for help with closing costs.
  • 5-year Adjustable Rate Mortgage (ARM).
  • Origination fee .75% of the loan amount (cap of $1,500).
  • Property must be located in NC, SC, VA, GA or TN.

View ARM rates (PDF)

Five-Year Adjustable Rate Mortgage

  • Rate subject to change every five years.
  • Maximum term of 30 years.
  • Maximum term for rental property or second/vacation home loan is 15 years.
  • Maximum interest rate adjustment of 2.0% every five years or 6% over the life of the loan.
  • 100% financing available up to $400,000 for purchases and no cash-out refinances of primary residences.
  • Origination fee .75% of the loan amount (cap of $1,500).
  • Property must be located in NC, SC, VA, GA or TN.
  • 90% financing available for a second/vacation home.
  • 80% financing for rental property.

View ARM rates (PDF)

ARM processing fees

The initial interest rate for our ARM loans is set by the LGFCU Board of Directors and is subject to change daily. Members may incur costs or fees during the mortgage loan process such as:

  • Appraisal fee
  • Origination fee
  • Attorney fees
  • Recording fees
  • Title insurance
  • Survey (typically not required)
  • Pest inspection (typically not required)

At the time of application, a Credit Union loan officer will provide a good faith estimate of all settlement costs involved with the mortgage process.

Pick the mortgage that's right for you

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