Buying a home is a big step. You need a lender you can trust and who will work with you through the process. That lender is LAFCU. We can finance or refinance your home and help you make the most of your equity with our affordable range of mortgage and equity options. For help buying a home, click Home Buying Coach.
First Trust Deeds
- Competitive fixed and adjustable rates*
- Fixed-rate options feature up to 80% financing, minus outstanding liens
- No-point, low-point and flat-fee options on fixed-rate loans up to 40 years
- Lower rate fixed to adjustable conversion options
- Free 40-day rate lock
- Pre-approvals available
- "Rate Beater" program: On our 5,7 or 10 year fixed to adjustable and our 15-year fixed first trust dead loans, we guarantee to beat the rate from another lender by 1/8 percent (0.125%). This is valid only if the lender has the same rate and term as our loan, and certain restrictions apply.
Second Trust Deeds
- Competitive fixed rates
- No points, no fees for loan amounts under $250,000
- $5,000 minimum loan amount
- Repayment terms up to 15 years
- Borrow up to 90% of your home's appraised value, minus outstanding liens
- Competitive fixed rates
- A minimum down payment of only 3.5%
- Seller may contribute up to 6% of sales price, including closing costs
- Gifts can fund up to 100% of down payment and closing costs
- Low introductory rate and competitive adjustable rate thereafter
- No points and annual fees for loans of $5,000 to $250,000
- Convenient access with paper checks or a plastic Home Equity Access Card
- $5,000 minimum credit line
- Borrow up to 80% of your home's appraised value, minus liens
Want to finance outside California? Talk to us.
If you're age 62+ and own a home that's your primary residence, you may qualify to borrow from your equity for a "Reverse Mortgage." Advantages include: no loan repayment while living in the home, no income requirements, payments are guaranteed, and funds received are a loan and not taxable (consult your tax advisor). For info and to apply, contact Community Mortgage funding at (877) 915-3030.
Easy Ways to Apply
To check on our current consumer and real estate loan rates, click here.
* Real Estate Loan Rate Example: The approximate payment would be $665 monthly for an LAFCU 30-year fixed rate first trust deed mortgage on an owner-occupied, single family residence with a 7.0% interest rate and 7.15% Annual Percentage Rate (APR), based on a $100,000 mortgage with one point and $1,500 in closing costs. Actual rate, APR, points and closing costs vary and may affect the APR. Loan-to-value is up to 80% based on an LAFCU appraisal.
Click for information about the "Secure and Fair Enforcement for Mortgage Licensing Act of 2008" (S.A.F.E. Act).