Mortgage Loans

ARM Loans

CBFCU offers in house – Adjustable Rate conventional mortgage loans up to a term of 30 years.

• CBFCU will finance up to 80% of the appraised value of the property.
• This loan is kept in-house and payments are made at the credit union.
• Rates adjust annually. Caps: 1% annually, 5% lifetime, 1% origination fee plus actual closing cost.

Unimproved Property/Land

We finance unimproved property/land in-house with a one year Adjustable Rate loan and a 12 year term.

• CBFCU will finance up to 80% of the appraised value.
• This loan is kept in-house and payments are made at the credit union.
• Rates adjust annually. Caps: 1% annually, 5% lifetime, 1% origination fee plus actual closing cost.

Fixed Rate

30-Year Fixed Rate Loan

• Finance up to 95%!
• Low closing costs.
• Loan offered by 7 Mortgage of Knoxville, TN – a trusted CBFCU partner.

Home Equity Lines Of Credit

Put your home’s equity to work for you with an CBFCU Home Equity Line of Credit (HELOC)! This revolving line of credit lets you borrow funds as you need them. Plus, the funds become available to use again as you make payments to the principal. Use your CBFCU HELOC for renovations, a vacation, or a large purchase. An CBFCU HELOC can make it happen for you!

• $150 Closing Fee
• 20 Year Term
• Interest only payments for first 10 years
• $5,000 loan minimum
• Fast approvals
• Transfer funds into your checking account anytime

Documentation that may be needed includes:

• Last two years of tax returns
• Last two check stubs from your employer(s)
• Last mortgage statement from your mortgage lender
• A legal description of the property

Terms & Conditions may apply speak to one of our loan officers today to learn more.