Sunday, December 16, 2012

Melrose Credit Union Mortgage Rates

Melrose Credit Union a local credit union based in Queens, New York, if offering some of the best mortgage rates available right now from any bank or credit union.

The mortgage rates and refinance rates advertised are only for homes in New York and New Jersey. If you live in one of those two states and are looking to buy a home or refinance you should consider Melrose Credit Union's mortgages. As with any credit union you have to join Melrose Credit Union to obtain a loan or open a savings account, certificate account or any other account with the credit union.

Current 30 year mortgage rates at Melrose can be gotten as low as 4.50 percent with two mortgage discount points. When you get a mortgage the bank, credit union or mortgage broker will quote you rates and mortgage discount points. You can buy down the mortgage rate by paying points upfront at closing. 1 point is equal to 1 percent of the home loan.

If you don't want to pay two points on a home loan which can amount to thousands of dollars more in closing costs, Melrose Credit Union is also offering 30 year fixed conforming mortgage rates and refinance rates at 5.00 percent with no mortgage points. 30 year rates are also available at 4.75 percent with one discount point.

In addition to 30 year mortgage rates Melrose CU is also offering current 20 year mortgage rates at 4.375 percent with two mortgage points. 20 year rates are also available at 4.625 percent with one mortgage point or 4.875 percent with no mortgage points. If you can afford a 20 year home mortgage loan you should get one, you'll own you home outright in 10 less years than getting a 30 year mortgage loan.

In addition to those two mortgage loans the credit union is also offering other fixed mortgage rates and adjustable mortgage rates.
Current 15 year mortgage rates and 15 year refinance rates are at 3.875 percent with two mortgage points. 15 year interest rates are also available at 4.125 percent with one mortgage point and 4.375 percent with two mortgage points.

Fixed conforming 10 year mortgage rates today are at 3.75 percent with two mortgage points, 4.00 percent with one mortgage point and 4.25 percent with no mortgage points.
Fixed adjustable rates include 5/1 adjustable mortgage rates at 4.125 percent with two mortgage points, 4.375 percent with one mortgage point and 4.625 percent with zero mortgage points. These 5/1 adjustable home loans are amortized over 30 years.

Melrose is also offering 5/1 adjustable mortgage loans that are amortized over 15 years which makes your monthly mortgage payments higher by gets you a better interest rate. 5/1 adjustable mortgage rates currently are at 3.875% with two mortgage points, 4.125 percent with one mortgage point and at 4.375 percent with no mortgage points.

These mortgage rate quotes we got for personalized loan of 0,000 on a home valued at 0,000. You can get your own mortgage quotes by quickly filling out a mortgage form online on the credit union's website.

The only information you have to provide is the state, county and city of where the home is located. You also have to provide the loan amount you want and the home's current value. Again, Melrose Credit Union's home loans are only available in the states of New York and New Jersey.

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