Home Loans

A home mortgage is one of the most important loans you will need. UFCU has a line of mortgage products available for purchasing a new home or vacation home, refinancing an existing mortgage, or taking advantage of the equity in your existing home. Our mortgages are available in the continental United States.  Mortgage Options:

Fixed-Rate Mortgage
With a conventional, fixed-rate mortgage, you get a low-interest rate that’s locked in for the life of the loan. And with flexible terms from 10 to 30 years, you can customize a low monthly payment to fit your budget.

Features:

• Competitive low rates
• Down payment as low as 5%
• A selection of 15, 20, 30 year mortgage terms
• No points.  No prepayment penalties
• Principal payments can be made at any time
• Mortgage pre-qualification
• Maximum conventional loan amount $726,200.00.  Jumbo loans available
• Owner occupied, single family homes.  Includes townhomes and condominiums
• Minimum FICO Score is 700
• Down payments of less than 20% requires private insurance
• Refinance options are available
• Quick approvals and local closings make the entire process fast and hassle-free

Jumbo Loans
Higher home prices require a different kind of loan than conventional borrowers need. That’s why we offer Jumbo Loans for borrowers looking to buy higher-value properties. Our Jumbo Loans can go up to $1 million depending on the loan to value (LTV) and purpose of the loan.

We offer both fixed-rate and adjustable-rate Jumbo Loans with terms to fit your budget.

Jumbo Loan Features

• Competitive interest rate
• Fixed or adjustable-rate terms available
• Choice of loan terms, up to 30 years
• No points and no closing costs
• No pre-payment penalty
• Designed for loans that exceed $726,200.00
• Up to 95% loan-to-value financing(LTV) maximum, no PMI
• Available for primary residences, 2nd/vacation homes only
• Available for both purchase and refinance
• 700 minimum credit score
• Cash-out refinance is now allowed on second homes and investment properties (previously only primary residences)
• In most of the country, the 2023 conventional loan limit is $726,200.00.
  The limit is $1’089,300.00 in many high-cost areas, but loan limits vary. It’s important to look up conforming loan limits in your area.

Get started on your mortgage application or pick up where you left off

Have the following information available when applying

• The income for all borrowers – Your W2s and tax returns will provide the information you need
• Your current monthly expenses – Write down your monthly expenses like rent, mortgage, utilities, credit cards, average spending, etc.
• An estimate of the funds you have available for a down payment, closing costs, taxes, and other costs.
  

  
  More Options
  Print the PDF version and submit it by mail:
  Unilever FCU, P.O. box 1112, Englewood Cliffs, NJ 07632

  Useful Links
  View our current rates
  Mortgage Calculator
  http://www.unileverfcu.org/calculators/Mortgage Checklist
  Thinking about buying your first home? Take some proactive steps
  

The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act is designed to enhance consumer protection and reduce fraud by requiring a nationwide registration system for mortgage loan originators (MLOs). Each MLO obtains a unique identifier from the Nationwide Mortgage Licensing System and Registry (NMLS). This information allows a consumer applying for a mortgage loan to verify the MLO is properly registered and to obtain basic information about the MLO’s mortgage lending history. Unilever Federal Credit Union: NMLS #457994.

You have mortgage refinance options whether you’re currently financed with UFCU or with another lender. Contact us to compare financing: john.holtzhauer@unilever.com.

Features & Benefits:

• Reduce your monthly payment with a lower rate
• Reduce the interest paid by shortening your term
• Option to take cash out for remodeling or other financial needs
• Financing for primary residences as well as second homes
• No points. No pre-payment penalty
• Principal payment can be make at any time
• Conventional or jumbo option
• Minimum FICO Score is 700
• Use our mortgage calculators to help you determine if refinancing is right for you and how much mortgage you can afford

Get started on your mortgage application or pick up where you left off

Have the following information available when applying

• The income for all borrowers – Your W2s and tax returns will provide the information you need
• Your current monthly expenses – Write down your monthly expenses like rent, mortgage, utilities, credit cards, average spending, etc.
• An estimate of the funds you have available for a down payment, closing costs, taxes, and other costs.

• More Options
  Print the PDF version and submit it by mail:
  Unilever FCU, P.O. box 1112, Englewood Cliffs, NJ 07632

  Useful Links
  View our current rates
  Mortgage Calculator
  http://www.unileverfcu.org/calculators/Mortgage Checklist
  Thinking about buying your first home? Take some proactive steps

Our Vice President of Lending
Experienced professionals you can count on!

John Holtzhauer
NMLS# 202179
UFCU MLS# 457994
Cell:  973-945-1057
Work 203-816-4066
Email: john.holtzhauer@unilever.com

Have additional questions?
Please reach out and contact us.

The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act is designed to enhance consumer protection and reduce fraud by requiring a nationwide registration system for mortgage loan originators (MLOs). Each MLO obtains a unique identifier from the Nationwide Mortgage Licensing System and Registry (NMLS). This information allows a consumer applying for a mortgage loan to verify the MLO is properly registered and to obtain basic information about the MLO’s mortgage lending history. Unilever Federal Credit Union: NMLS #457994.

Know the differences between home equity loans

Home equity is the difference between your home’s market value and the amount that you owe on your mortgage. You can borrow against your home’s equity to fund large projects or major expenses.

A home equity installment loan and a home equity line of credit (HELOC) are both great ways to borrow funds for home improvement or remodeling projects, or to help pay for college tuition, debt consolidation, medical expenses, and other large expenses.

Home Equity Line of Credit
A home equity line of credit (HELOC)  is a revolving credit line secured by the equity in your home. A home equity line of credit lets you borrow what you need, when you need it; you only pay interest on the money you withdraw within the first 10 years.  Use your home’s equity for anything you need:

• Remodel your home
• Consolidate high interest credit cards or personal loans
• Pay for educational expenses
  
  Benefits of a HELOC
• Rates as low as 6.50% APR*
  Lower interest rate than paying with your credit cards or personal loans
• Access funds for 10 years (funds are there when you need them)
• No points, No annual fees, No application fee or prepayment penalties
• Max credit line amount $75,000.00
• Pay interest only on the funds you use
• Access up to 75% of your home’s value
• Life and Disability Insurance is available to protect you and your family
• Financing available in New Jersey, New York and Connecticut
  Ways to Access Your HELOC Loan
• Automated account access transfer (free ACH electronic transfer)
• Write a check
• Funds transfer to a UFCU checking account
  Home Equity Installment Loan (also known as 2nd mortgage)
  With a home equity installment loan, you receive your funds in a single lump sum. This type of loan is ideal if you have a large, one-time expense, or if you want to consolidate debt and focus on paying it off. It offers fixed rates and a steady monthly repayment schedule for up to 15 years.  Ideal for consolidating higher interest loans or credit card debt. 

  
  You can use  the loan for anything—but if you use it for home improvement, you can deduct the interest from your income tax (please consult your accountant).

• Fixed rate 6.75% APR ** 
• Low Fixed Rates for the life of the loan
• Receive the amount borrowed in one lump sum
• Choose from loan terms, of 5,10, or 15 years
• Borrow up to 75% of your home’s equity up to $100,000
• No annual fee, No application fee or prepayment penalties
• Life and Disability Insurance is available to protect you and your family
• Financing available in New Jersey, New York and Connecticut
  

  ---

  
  
  Requirements

• Minimum FICO credit score 760
• Secured by primary residence only
• UFCU membership
  
  Approximate Closing Costs
• New Jersey and Connecticut $2,200.00 (title exam, mortgage recording and underwriting)
• New York is $3,900.00 (title exam, mortgage recording, mortgage recording tax, underwriting)
  
  

Refinance & Save

• If you already have a home equity loan from another financial institution, refinance with Unilever Federal Credit Union and get our great low rate and flexible terms.

Here is a list of items to provide to expedite the process:

• Homeowner’s Insurance Declaration Page
• Current Paystub or Tax Return
• Most Recent Mortgage Statement

Have Questions? Contact Us
John Holtzhauer
VP of Lending
NMLS# 202179
UFCU MLS# 457994
Cell:  973-945-1057
Work 203-816-4066
Email: john.holtzhauer@unilever.com

Rates and terms are subject to credit approval and may change without notice.
Consult your tax adviser for tax-deduction eligibility on Home Equity Loans.  Property Insurance is required.
The Credit Union reserves the right to change any conditions of these programs, or to withdraw them, without prior notice.
This Credit Union is federally insured by the National Credit Union Administration.

*The HELOC interest rate is an adjustable rate currently based on the  Prime Rate, minus .75% (With a minimum interest rate of 4.00%). Rates are subject to change.

Your rate will be reviewed monthly. The maximum Annual Percentage Rate that can apply is 18.00%, or the maximum permitted by law, whichever is less.

A minimum FICO credit score of 760 is required.
Maximum loan-to-value  75%  (Heloc, and any senior mortgage, not to exceed 75% of home’s appraised value).
The maximum home equity line of credit loan amount is $75,000.   

The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act is designed to enhance consumer protection and reduce fraud by requiring a nationwide registration system for mortgage loan originators (MLOs). Each MLO obtains a unique identifier from the Nationwide Mortgage Licensing System and Registry (NMLS). This information allows a consumer applying for a mortgage loan to verify the MLO is properly registered and to obtain basic information about the MLO’s mortgage lending history. Unilever Federal Credit Union: NMLS #457994.