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.

Program Benefits

• Competitive low rates
• Down payment as low as 5%
• 15, 20, 30 year mortgage terms
• No points
• No pre-payment penalty
• Principal payments can be
  made at any time
• Mortgage pre-qualification.  Quick approvals and local closings make the entire process fast and hassle-free
• Refinance options are available
  
  Program Requirements
• Maximum conventional loan amount $766,550.00.  Jumbo loans available
• Owner occupied, single family homes.  Includes townhomes and condominiums
• Minimum FICO Score is 700 (for down payments of less than 20%, a minimum mid-FICO score of 760 is required for each borrower)
• Down payments of less than 20% requires private insurance
• The credit union currently does not provide mortgage financing for co-op purchases

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
  
• No points and no closing costs
• No pre-payment penalty
• Choice of loan terms, up to 30 years
• Fixed rate terms available
• Designed for loans that exceed $766,550.00
• Up to 90% loan-to-value financing(LTV) for owner-occupied homes
• Available for primary residences, 2nd/vacation homes only
• Available for both purchase and refinance
• 700 minimum credit score (760 minimum score for LTVs over 80%) 
• Cash-out refinance is now allowed on second homes  (previously only primary residences)
• Private Mortgage Insurance required for loan to values over 80%
• In most of the country, the 2024 conventional loan limit is $766,550.00
  The limit is $1,149,825.00 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 07632Useful Links
  View our current rates
  Mortgage Calculator
  http://www.unileverfcu.org/calculators/Mortgage Checklist
  Thinking about buying your first home? Take some proactive steps
  

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.

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 07632Useful 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.

Rates and terms are subject to credit approval and may change without notice.
This Credit Union is federally insured by the National Credit Union Administration.
A minimum FICO credit score of 700 is required.
  

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.

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 is a great way to access funds for big-ticket expenses.  From home remodeling, education expenses, vacation funding, to unexpected emergencies.

Benefits of a HELOC

• Benefit from rates as low as 7.00% APR^*
• Up to 75% total loan to value
• HELOC limits up to $100.000.00
• 10-year draw period (funds are there when you need them)
• A revolving line of credit, open for 10 years with 15 years to repay the balance
• Pay interest only on the funds you use
• No application, no annual or inactivity fee
• No points or prepayment penalties
• Primary residence only
• Convenience checks or online access to funds

Ways to Access Your HELOC Loan

• Transfer the funds to your UFCU checking account or request convenience checks
• Bank-to-bank transfer (complete our ACH electronic form)
• Easy to pay online, set-up automatic payments

Requirements

• Minimum FICO credit score 750
• UFCU membership
  

What to expect when you apply

• Submit an online application (an email will follow soon after)
• If the HELOC is conditionally approved, we’ll ask the following:
  . Homeowner’s insurance declaration page
  . Current pay slip and most recent two years W-2s
  . Most recent mortgage statement

Have Questions? Contact Us
John Holtzhauer
Vice President 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 5.00%). Rates are subject to change.
Your rate will be reviewed monthly. The maximum Annual Percentage Rate that can apply is 12.00%, or the maximum permitted by law, whichever is less.  A minimum FICO credit score of 750 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 $100,000.00.

HELOC repayment/draw  terms:
You can obtain advances during the initial 120 month period (the draw period) of your HELOC.  During your draw period, your minimum monthly payment will be the greater of $100.00, or the interest due for the month.  The remaining 60 month period of your HELOC is the repayment period. Your minimum monthly payment during the repayment period will be 1/60^th of your principal balance at the end of the draw period, plus the monthly interest due.

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