Alabama Credit Union - Rates

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Current Mortgage Rates (Effective December 31, 2009)

	Up to 80% Total Loan-to-Appraised Value	Up to 90% Total Loan-to-Appraised Value (No PMI!)
10 Year Fixed, First Mortgage	4.50% APR	4.75% APR	Private Mortgage Insurance (PMI) required for loan-to-value of 91% to 95%. More info about our low-closing cost options.
15 Year Fixed, First Mortgage	5.00% APR	5.25% APR	Private Mortgage Insurance (PMI) required for loan-to-value of 91% to 95%. More info about our low-closing cost options.
30 Year Fixed, First Mortgage	Call for quote		Call Teresa Simpson at 205-348-3889 for details on this product. Find out more about our conventional real estate loan program. More info about our low-closing cost options.
3/1 ARM (30 Year Amortization), First Mortgage	4.75% APR	5.00% APR	Subject to annual adjustments after first 36 months. Based on 1-year Constant Maturity Treasury Bill plus margin of 2.75 percentage points. After 36 months, interest rate may adjust 2.0 percentage points per year for a lifetime adjustment of 6.0 percentage points. PMI required for loan-to-value of 81% to 95%. More info about our low-closing cost options.
5/1 ARM (30 Year Amortization), First Mortgage	5.00% APR	5.25% APR	Subject to annual adjustments after first 60 months. Based on 1-year Constant Maturity Treasury Bill plus margin of 2.75 percentage points. After 60 months, interest rate may adjust 2.0 percentage points per year for a lifetime adjustment of 5.0 percentage points. PMI required for loan-to-value of 81% to 95%. More info about our low-closing cost options.
7/1 ARM (30 Year Amortization), First Mortgage	5.25% APR	5.50% APR	Subject to annual adjustments after first 84 months. Based on 1-year Constant Maturity Treasury Bill plus margin of 2.75 percentage points. After 84 months, interest rate may adjust 5.0 percentage points at the initial adjustment, and 2.0 points annually thereafter, for a lifetime adjustment of 5.0 percentage points. The margin added to 90% LTV loans is 3.00 percentage points. PMI required for loan-to-value of 91% to 95%. More info about our low-closing cost options.
Home Equity Line of Credit (Adjustable Rate only)	5.00% APR		Accept a first advance of at least $10,000, and we'll pay closing costs. Details.
	5.00% APR (for quarter ending December 31, 2009)		80% equity; subject to adust quarterly. Based on 3-month Treasury Bill’s average rate for previous calendar quarter (4.85%), plus margin of 3.4 percentage points. Minimum monthly payment amount is 1.25% of the initial loan advance. Credit union may pay closing costs for loans of $10,000 or more (balance may not drop below $5,000 within 730 days).
	6.00% APR (for quarter ending December 31, 2009)		90% equity; subject to adjust quarterly. Based on 3-month Treasury Bill’s average rate for previous calendar quarter (4.85%), plus margin of 4.4 percentage points. Minimum monthly payment amount is 1.50% of the initial loan advance. Credit union may pay closing costs for loans of $10,000 or more (balance may not drop below $5,000 within 730 days).
Second Mortgage, 10-Year Fixed	8.00% APR	8.25% APR	Terms and conditions apply.
Vacant Lots, First Mortgage	7.90% APR		Up to 10 years; 75% loan-to-value (recorded subdivisions only); maximum loan is $75,000.
Vacant Land, First Mortgage	7.90% APR		Up to 15 years; 70% loan-to-value; maximum loan is $75,000.

The above rates are for reference only and are subject to change for better or worse, depending on market condition. Real estate loan applications not accepted via e-mail; please download a printed application, complete and forward to Alabama Credit Union’s main office at 220 Paul Bryant Drive East, Tuscaloosa, AL 35401, or our Huntsville office at UAH-851 John Wright Drive, Huntsville, AL 35899.

*HOME EQUITY LINE OF CREDIT. Rate: APR may vary in relation to an index. Rate will change on April 1, 2010, based on the prior quarter's average 13-Week Treasury Bill (for quarter ending March 31, 2010, 0.160% APR), plus a margin of 3.4 percentage points for 80% value loans, or 4.4 percentage points for 90% value loans. Minimum payment: 1.25% of loan advance for 80% value loans, or 1.5% of loan advance for 90% value loans. If a balance remains on the maturity date, a balloon payment will result. Borrower agrees to repay closing costs paid by Alabama Credit Union if loan balance falls below $5,000 within 24 months after opening. Loans made on primary residence only. Consult a tax advisor regarding deductibility of interest. Offer applies to new Home Equity Line of Credit loans only; existing loans excluded.

VISA BALANCE TRANSFER. New balance transfers only; existing loan balances at Alabama Credit Union not eligible for reduced rate. Rate converts to 12.9% APR for VISA Platinum Level 1 credit cards, or 10.9% APR for VISA Platinum Level 2 credit cards, or 8.9% APR for VISA Platinum Level 3 credit cards after discounted rate expires on June 30, 2010.

CONSUMER LOANS. APR available to qualified borrowers. Consult Alabama Credit Union's Loanliner Open End PLUS Addendum for details. Existing loans not eligible to refinance at this rate.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. Your savings are additionally insured to $250,000 by Excess Share Insurance. To estimate your National Credit Union Share Insurance Fund coverage, use this insurance estimator or download NCUA's Your Insured Funds brochure. Alabama Credit Union does business in accordance with the Equal Credit Opportunity Act and the Federal Fair Housing Law. We are an Equal Housing Lender. Rates expressed as Annual Percentage Rate or Annual Percentage Yield; all rates and terms subject to change without notice. For complete account disclosures, ask for a copy of our Membership & Account Agreement, Reg CC (Funds Availability) and Reg E (Electronic Transfers) disclosures, Fee Schedule and Member Business Account™ Fee Schedule. Membership eligibility required. Alabama Credit Union is not responsible for content of Web sites which may be accessible via links from this site but are not operated by Alabama Credit Union, and does not represent either the third party or the member if the two enter into a transaction; privacy and security policies may differ from those practiced by Alabama Credit Union.