*Offer available for purchase transactions in Georgia, Florida, North Carolina, South Carolina, Alabama, and Tennessee residents. Some restrictions may apply. The property must be a single-family primary residence, and the borrower must have a debt-to-income ratio of 45% or less and a minimum representative credit score of 680 or higher. The minimum loan amount is $75,000 and the maximum loan amount is $427,500. The maximum loan-to-value ratio is 95%. Restrictions apply. At the end of the 15th year, the interest rate adjustment will be no more than 6% up or down with a floor rate of 2.500% and a maximum rate of 18%. The adjusted interest rate will be equal to the 10 Years U.S. Department of the Treasury Constant Maturity plus a 1.25% margin, rounded to the nearest one-eighth. Actual payments will vary based on the borrower’s situation and current rates. Associated Credit Union assumes (unless otherwise noted) the borrower costs include: No application fee for purchase applications, 1% origination fee ($5,000 maximum), $350 - $1,000 appraisal fee(s), $99 processing fee, $20 wire fee, attorneys fees, lenders title insurance, recording fees, applicable title fees, termite letter inspections, prepaid interest, escrow reserves, post-closing fee, closing protection letter fee, monthly mortgage insurance premium (if the loan-to-value ratio is more than 80%), Georgia Residential Mortgage Act fee (if property is located in Georgia), applicable state or local taxes and fees, and applicable septic and/or well inspection reports. Other charges or fees may apply. Associated Credit Union will pay the credit report fee, real estate tracking service fee, and flood certificate fee.
*Payment example: On a $400,000 15/15 Adjustable-Rate Mortgage on a primary residence with an initial rate of 5.750% (5.865% APR), the interest rate can rise 6 (six) percentage points to 11.75%, at the one adjustment during the life of the loan, and the monthly payment can increase from a $2,334.29 first year payment to a $3,328.61 maximum payment starting in the 16th payment year. Payments shown do not include taxes and insurance, actual payments may be greater. APR = annual percentage rate. All rates and offers are as of July 1, 2023 and subject to change without notice. Restrictions apply. Mortgage rates subject to change. We do business in accordance with the Federal Fair Housing Law and Equal Housing Opportunity Act. NMLS #401922.