 Shoreline Credit Union makes getting a home loan quick, easy and affordable.
Our low-cost, reliable mortgage loans come with a variety of payment terms.
At Shoreline Credit Union, you will not face penalties for making advance payments or paying off your loan early. It is our mission to help you achieve your personal goals by saving regularly. It is easy to apply in person, online or by phone or mail.
Mortgage loans
If you are buying a home or refinancing your current home loan, you are sure to find a mortgage loan that is right for you at Shoreline Credit Union. You may choose from these options:
- ALT 97 if you can make the required 3 percent down payment from your savings, a grant or other sources.
- Conventional fixed rate for a 30-year mortgage if you can make a 5 percent down payment.
- In-house balloons if you would like a fixed home mortgage rate for the first few years.
Construction loans
If you would like to build your dream home or construct an addition to your current home, we can provide you with a construction loan and then roll it into a home mortgage when construction is completed.
Home equity loans (closed end)*
You may use your home equity as collateral for large expenses such as education and home improvement projects. You may borrow up to 90 percent of your home’s market value minus any outstanding mortgage balance. We will establish a repayment period that fits your budget.
Home equity line of credit Visa card*
If you are planning a home-improvement project, you can easily access your home equity with this Visa card. You may use it anywhere Visa is accepted. So it is quick and convenient — and the rates are low!
*These loans may be tax deductible, so talk to your tax advisor.
Documentation required to apply
- Completed application
- Purchase contract for property or most recent real estate bill
- Homeowner’s insurance policy*
- Construction plans and builder’s contract*
- Current income verification (one month’s current check stubs plus current and prior years’ W2s) or past two years of tax returns if self-employed*
- Statements documenting balances on 401K/profit-sharing plans
- Statements documenting balances on all mortgages
- Title insurance policy*
*if applicable
If you are interested in a home loan with low mortgage rates, contact us to schedule an appointment.
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