Home Loans

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Start Your Application Online NOW!
*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

Got Some Big Summer Plans?

Your Home's Got You Covered Two Ways

Home Loan Landing Page Image 04212022

 

With FedChoice, you can put your home’s value to good use today. With a Home Equity or Renovation Loan, you can finance your home renovation, dream vacation, or even your higher education with the equity your home has already built. With low rates and flexible terms, it’s one of the smartest and safest ways to borrow and spend. 

 

 

Your home’s got your summer spending covered!

  • Rates as low as 3.49% APR*
  • Borrow $10K–$250K*
  • Flexible Payment Terms
  • Fast Approval Process
  • No Prepayment Penalties*

 

Home Depot-Lowes gift card offer

 
 
Bonus $100 Gift Card after your loan is disbursed. Offer ends June 30, 2022.**

 

Log into online banking to apply or call 301.699.6126 to speak with a FedChoice Real Estate representative.

Apply Today!

 

 

* APR: Annual Percentage Rate. Maximum APR is 18%. Rates and terms based on credit criteria; your rate may differ. All loans subject to credit approval. All rates are quoted on approved credit APRs. Loan approval is subject to credit, income, and property valuation. FedChoice Federal Credit Union’s normal underwriting requirements apply. Must be owner-occupied primary residence. May be a first or second lien, no pre-payment penalty. Property insurance required. Minimum/Maximum Loan Amount: The minimum loan amount is $10,000. The maximum loan amount is $250,000. Loan Payment examples do not include amounts for taxes and insurance (if applicable) and the actual payment obligation may be greater. On average, closing costs may vary depending upon the amount of the loan, terms, property value, etc. Consult your tax advisor regarding the deductibility of interest and charges. Offer subject to change without notice. Consumer mortgage loans only. This is not an offer to extend consumer credit as defined by Section 1026.2 of Regulation Z. A loan application is required to be submitted to FedChoice Federal Credit Union subject to these terms, conditions, disclosures, and requirements to potentially take advantage of this offer. FedChoice NMLS #399841.

*Home Equity Loans: The fixed APR is as low as 3.49% as of 5/1/2022, and subject to change without notice. Fixed-Rate Loans: The interest rate charged, and the APR are constant for the life of the loan. Finance charges begin on the date the loan is made. Interest will continue to accrue until the first payment has been received, which is due within 30 days of settlement but subject to change. First lien Smart Choice Home Equity Fixed Rate loans are limited to a maximum loan to value of 80%. Maximum Combined Loan to Value (CLTV) is 90% for second liens. Home Equity Loan Payment Example: Assuming a $50,000 loan amount, a 10-year term, and a 3.49% APR, you would make 120 monthly payments of $495.00.

*Home Equity Lines-of-Credit (HELOCs): The variable APR is as low as 3.50% as of 5/1/2022, and subject to change without notice. Variable rates are subject to increase throughout the 10-year draw as well as during the 15-year repayment periods (the full term of the loan). Maximum Combined Loan to Value (CLTV) is 90%. HELOC Payment ExamplesFor our HELOC Classic, payments are 1.25% of the outstanding balance as of the last advance. During the repayment period, payments are 1.25% of the outstanding balance as of the date the repayment period started. (Payments do not adjust or reduce). Payment Example: Balance $10,000.00* 1.25% = Monthly Payment $125.00. For our HELOC Gold, during the draw period, payments are interest only unless member chooses to pay more to reduce the principle. During the repayment period, payments are 1.25% of the outstanding balance as of the date the repayment period started (payments do not adjust or reduce). Payment Example: Balance $10,000.00* 1.25% = Monthly Payment $125.00.

*RenoFi Home Renovation Loans: The variable APR is as low as 3.50% as of 5/1/2022, and subject to change without notice. Variable rates are subject to increase throughout the 10-year draw as well as during the 15-year repayment periods (the full term of the loan). RenoFi Home Renovation Loan Payment Example: During draw period; payments are interest only unless member chooses to pay more to reduce the principle. During repayment period, payments are 1.25% of the outstanding balance as of the date the repayment period started (payments do not adjust or reduce). Payment Example: Balance $10,000.00* 1.25% = Monthly Payment $125.00. FedChoice NMLS #399841 provides Home Renovation Loans by partnership with Renovation Finance, LLC DBA RenoFi NMLS #1802847. The amount borrowed for renovation together with any other mortgages cannot exceed 90% of the after-renovation property value on 1-to-4 family owner-occupied primary properties. Among the ineligible property types are investment properties (defined as non-owner-occupied), co-ops, mobile homes, and manufactured houses. Flood insurance may be required. Fees and charges may apply.


**Promotion Incentive: To qualify for the promotion incentive, the home equity loan or Renovation loan application must be submitted by 6/30/22; the loan must be approved, funded, and disbursed by 8/15/2022. Selected loan activity will be tallied by FedChoice Federal Credit Union and earned promotion redemption code and instructions will be issued and mailed 4-6 weeks after the offer period ends. Additional terms and conditions may apply. The listed merchants are neither affiliated with FedChoice Federal Credit Union nor are the listed merchants considered sponsors or co-sponsors of this program. Uses of merchant names and/or logos are by permission and trademarks are the property of their respective owners. Please see the merchant gift card/certificate for additional terms and conditions which may apply, and which may change at merchant’s discretion. Merchants are not liable for any actual or alleged claims related to this offer. FedChoice Federal Credit Union may only distribute the Gift Cards/Claim Codes to recipients on a promotional basis as part of a customer incentive program. The gift card may be reported to the IRS for income tax purposes.

Current_Members_Apply_Here_ButtonNot_A_Member_Apply_Here_Button

Start Your Application Online NOW!
*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

FedChoice Real Estate Day - Wednesday May 18, 2022 -  Speak with a member of our Real Estate Department and one of our Real Estate Agent Partners to learn more about our Home Advantage® Program for Buying/Selling a Home, and chat with us about our Mortgage, Renovation and Home Equity Programs.

We're scheduling 1-hour appointments between 9am and 5pm on this day so that you may ask us any of your real estate related questions. Select a time that best fits your schedule.

Additional Real Estate Days will be take place on the following Wednesdays:

  • June 15th
  • July 13th 
  • August 17th
  • September 14th  
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