Call our real estate loan experts
at
800-633-2848
Monday - Friday,
7 a.m. - 6 p.m. Pacific

Your home helps nurture the most important relationships of your life. Now you can build on your Credit Union relationship to make home ownership more affordable. With a significant discount opportunity at your Credit Union, you can save thousands on a best-value loan to buy your new home or refinance the home you’re in.

You can cut ¼ percentage point off the rate on a new fixed-rate home loan when you also use the following value-added Credit Union services:

       -   MasterCard or Money Master Line of Credit
       -   Home Equity Line of Credit
       -   Share Draft (Checking) Account
       -   Visa ATM/Check Card
       -   Autopay of Loan from Deposit Account

Per $100,000 financed, the ¼ percentage point discount means saving more than $6,000 on a 30-year loan; more than $3,500 on a 20-year loan; and more than $2,400 on a 15-year loan. And with an NGFCU first trust deed/mortgage loan, you will also save on the origination fees.

To qualify for the discount, your loan value can be up to 80% of the appraised value of your home.

Of course, when you’re financing the biggest purchase of your life, price is not the only consideration. Because you are a member of the Credit Union, you have the equally valuable advantage of getting personal service. If we make your home loan, we will service it throughout its term. That can be important if you ever have any questions, since you start and stay with someone you know.

Fixed-rate home loans are available for 15, 20 and 30-year terms. You can be pre-qualified on the same day you apply and approved in 72 hours (during the business week). Another feature is called “float down.” When you are approved for your loan, you have a lock on the interest rate quoted to you, but if the rate is lower on the day your final documents are drawn, your rate will “float down.” Most banks charge for this, but it’s free to you as a member of the Credit Union.

Another way to save money on buying your home is the bi-weekly payment option, where one half of your monthly minimum payment is deducted from your NGFCU deposit account every other week. By the end of 12 months, you have credited one entire extra payment to your real estate loan. This makes your money work harder for you during the year as your principal shrinks faster and reduces the total interest payment on your loan. With this payment technique, you can pay off a 30-year loan in about 23 years, a 20-year loan in less than 16 years, and a 15-year loan in about 12. Most banks that offer this option charge for it, but it's free to you at the Credit Union.

If you (or a member of your family) are ready to learn how Northrop Grumman Federal Credit Union can help with home financing, please talk to a representative at 1-800-633-2848 (Monday - Friday, 7 a.m. - 6 p.m. Pacific).

Our statistics say that most Credit Union members already use at least three services, so you may already be very close to reducing the rate on your first trust deed/mortgage loan.

We look forward to serving you and saving you money.

Learn more about Mortgage Online.

Your family members can also enjoy the benefits of Northrop Grumman Federal Credit Union membership and get a better deal on real estate loans.

Northrop Grumman FCU does business in accordance with federal fair housing law and the Equal Credit Opportunity Act.