SEFCU - Freddie Mac Alt 97

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TODAY'S RATES: Alt '97 Fixed Rate Mortgages
Loan Sub-Account Description Rate*
Effective 3/19/2010 PM* Points Annual Percentage Rate (APR)
Alt '97 30 Year Fixed 5.875% 0.00 5.88%

Thinking of buying your first home, but not sure you have the down payment? SEFCU meets your needs with the Alt 97 mortgage from Freddie Mac. It features a low minimum down payment that is just 5% of the purchase price or appraised value, whichever is less. What’s more, you’re free to use gifts and borrowed money toward that down payment, making your first home even more affordable. Select from payment terms of 15, 20 or 30 years.

Best of all, you can apply online, simpy visit our Mortgage Center, or call a SEFCU Mortgage Originator at 518-451-2941. Outside the 518 area code call 866-733-2880 x 2941.

*Rates are posted twice a day (AM and PM) and are subject to change without notice.
For non-owner occupied rates please call 518-464-5357.

For cash out refinances with loan-to-value ratios between 70.01%-80% that qualify, add .50 to the points quoted above.

Minimum downpayment is 5%, unless applying for Alt 97 which is 3%.

Both Conventional and Alt 97 loan rates can be locked for 55 days at any time from application, up to 3 days prior to closing.

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