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Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 4.250%

4.324%

$4.92
15 YR 3.750% 3.877% $7.27
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 4.625% 4.702% $5.14
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 4.375% 4.791% $4.99
7/1 3.874% 4.686% $4.70
5/1 3.625% 4.755% $4.56
3/1 3.500% 4.944% $4.49
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.50% 5.50% $6.88
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*Up to 80% Total Loan To Value.
Other rates and terms available.
Pmt Per $1,000 does not include taxes
and insurance if applicable.
The actual obligation will be
greater than payment shown.
 
Current Interest Rates *, **
FIXED CONFORMING
PROGRAM RATES APR Pmt Per $1,000
30 YR 4.250%

4.324%

$4.92
15 YR 3.750% 3.877% $7.27
FIXED JUMBO
PROGRAM RATES APR Pmt Per
$1,000
30 YR 4.625% 4.702% $5.14
ARM Click any ARM product for more information.
PROGRAM RATES APR Pmt Per
$1,000
10/1 4.375% 4.791% $4.99
7/1 3.874% 4.686% $4.70
5/1 3.625% 4.755% $4.56
3/1 3.500% 4.944% $4.49
 
 
Current Interest Rates*, **
HOME EQUITY LINE OF CREDIT1
PROGRAM RATES APR Pmt Per
$1,000
20 YR 5.50% 5.50% $6.88
HOME EQUITY LOAN2
PROGRAM RATES APR Pmt Per
$1,000
10 YR 5.24% 5.24% $10.72
15 YR 5.49% 5.49% $8.17
20 YR 5.99% 5.99% $7.16
 
*Up to 80% Total Loan To Value.
Other rates and terms available.
Pmt Per $1,000 does not include taxes
and insurance if applicable.
The actual obligation will be
greater than payment shown.

Appraisal Needed To Obtain Loan

Usually, individuals applying for a loan are only interested in obtaining the loan and unfortunately are not worried about the prudence of buying the property at the agreed price. In fact, many purchasers will try to encourage appraisers to increase the appraised value so that they can purchase the home regardless of its value.

The majority of real estate appraisals are requested by mortgage companies to validate the property's purchase price for loan purposes. Except for periods of very low interest rates when everyone is refinancing, most loans are for the purchase of real estate and ordered after a sale price is negotiated. Purchasers mistakenly assume that mortgage companies are looking after their interests in the purchase transaction.

The law states that if the mortgage company orders the appraisal, the appraiser is responsible only to the mortgage company. We expect mortgage companies to be prudent and they should be, but being prudent is protecting their interest, not necessarily the purchaser's. The mortgage company's position is:

  • It has two sources of repayment: the purchaser's income and the property.
  • The responsibility to repay the loan is not based upon the property's value, so the purchaser is obligated to pay the note even if the property value declines to zero.
  • The loan may be insured or guaranteed by a government agency.
  • The government does not promise to pay the purchaser's debt if the property value is wrong.
  • If the loan is greater than 80% of the value, a portion of the loan may be insured by a private mortgage insurer.
  • There is no decrease in risk for the purchaser regardless of the loan to value ratio. The investment by the purchaser is the same; a mixture of personal cash and a loan that must be repaid.
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NMLS#: 406108 | Federally insured by NCUA up to $250,000. | Shares and Deposits in excess of NCUA limits are fully insured by MSIC. | ehl Equal Housing Opportunity

Copyright © 2017 Jeanne D’Arc Credit Union.  All rights reserved. Jeanne D’Arc©, MoneyStrong© and the phrase. We Share a Common Thread©, are federally register trademarks owned by Jeanne D’Arc Credit Union, and may not be used, displayed or reproduced by any other party without the express written permission of Jeanne D’Arc Credit Union.

** Rates are effective February 19, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. For adjustable rate mortgages, rate may increase after consummation.

1 APR = Annual Percentage Rate. For all Home Equity Line of Credit terms see Important Terms of our HELOC link above. $5.00 Membership Account Required. Up to 80% loan to value. Other rates and terms available. Home Equity Lines of Credit are only available on Primary Residence and Second Homes. Home Equity Lines of Credit are only available in the states of Massachusetts and New Hampshire.

APR = Annual Percentage Rate. Other rates and terms up to 20 years available. Borrow up to 95% (75% for Second Homes) of your home's current value less any secure debt secured by your home with a minimum of $10,000 and a maximum of $250,000. Home Equity Loans are only available on Primary Residence and Second Homes. Home Equity Loans are only available in the states of Massachusetts and New Hampshire. Rates as of January 09, 2019 and are subject to change without notice. $5.00 Membership Account Required.

 

NMLS#: 406108 | Federally insured by NCUA up to $250,000. | Shares and Deposits in excess of NCUA limits are fully insured by MSIC. | ehl Equal Housing Opportunity

Copyright © 2017 Jeanne D’Arc Credit Union.  All rights reserved. Jeanne D’Arc©, MoneyStrong© and the phrase. We Share a Common Thread©, are federally register trademarks owned by Jeanne D’Arc Credit Union, and may not be used, displayed or reproduced by any other party without the express written permission of Jeanne D’Arc Credit Union.

** Rates are effective February 19, 2019 and are subject to change at any time. Conforming loan sizes up to $484,350.00 on one unit properties. Conforming rates and APR based on $484,350.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. Jumbo rates and APR based on a $484,351.00 loan amount with FICO credit scores of 780 and loan to value no greater than 75%. For adjustable rate mortgages, rate may increase after consummation.

1 APR = Annual Percentage Rate. For all Home Equity Line of Credit terms see Important Terms of our HELOC link above. $5.00 Membership Account Required. Up to 80% loan to value. Other rates and terms available. Home Equity Lines of Credit are only available on Primary Residence and Second Homes. Home Equity Lines of Credit are only available in the states of Massachusetts and New Hampshire.

APR = Annual Percentage Rate. Other rates and terms up to 20 years available. Borrow up to 95% (75% for Second Homes) of your home's current value less any secure debt secured by your home with a minimum of $10,000 and a maximum of $250,000. Home Equity Loans are only available on Primary Residence and Second Homes. Home Equity Loans are only available in the states of Massachusetts and New Hampshire. Rates as of January 09, 2019 and are subject to change without notice. $5.00 Membership Account Required.