Mortgages worth extra credit
Whether you’re upgrading, downsizing or looking for your first home we offer the following:
- $2,500 closing cost incentive.1
- Financing with as little as 3% down payment.2
- Earn an average rebate of $1,600 when you use HomeAdvantage® to buy your home.3
- Pre-approvals that are good for 60 days.
15/15 Adjustable Rate Mortgage (ARM)
You can afford more home now or buy down your rate and enjoy lower monthly payments4 with a 15/15 Adjustable Rate Mortgage (ARM).
Here to help
Call a Mortgage Loan Officer
301.779.8500 ext. 5401
during business hours
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What our members say about us
As first time homebuyers, we had a fantastic experience with Educational Systems FCU! The online application was quick and easy. Our loan officer was responsible and made sure we had all of the information we needed to feel comfortable throughout the entire purchase process, she even attended settlement. It was great working with Educational Systems FCU to purchase our forever home.
Eric P. and Meaghen F.
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1 Purchase and refinance transactions may receive up to $2,500 in mortgage closing cost credits. Applicants must meet membership eligibility requirements, apply online before June 30, 2023 and enter “2023 Savings” in the comments box to be eligible for promotion. Credit will be applied at the time of closing. Promotion is subject to change without notice. Additional exceptions or restrictions may apply. Loans subject to credit qualifications and approval.
2 Financing is available with as little as 3% down on a home purchase. Expected monthly principal and interest payment for a 30-year fixed conventional mortgage of $339,500 at an interest rate of 6.375% with zero points (which is an equivalent APR of 6.826%) and a principal and interest payment of $2,118.04. Total principal and interest payment is $762,492.55 with an APR as low as 6.826% for a 30-year fixed conventional mortgage. The interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice.
3 The HomeAdvantage® program is made available to you through a relationship between Educational Systems FCU and HomeAdvantage. Program rebates are awarded by HomeAdvantage to buyers and sellers who select and use a real-estate agent in the HomeAdvantage network of approved agents. Home buyers or sellers are not eligible for the rebate if they use an agent outside this network. Using Educational Systems FCU for a mortgage is not a requirement to earn a rebate. Rebate amounts are dependent on the commissions paid to the agent. Rebate incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult with Educational Systems FCU to get details that may affect you.
4 The expected monthly principal and interest payment for a 15/15 adjustable rate mortgage of $280,000 at an initial interest rate of 5.75% with 0 points (6.099% APR) is $1,634.00. Total estimated payments of $619,947.53 (30 year repayment). Payment does not include taxes or insurance, actual payment may be higher. Rate is variable and can increase by no more than four percentage points every 15 years, never to exceed four percentage points above the initial rate (9.75% for this example). When the rate adjusts, your new rate will be the then current index (Weekly One Year Constant Maturity Treasury, or CMT) plus a margin of 2.750%, as long as the total adjustment does not exceed the 4.00% adjustment cap (7.375% for this example). The interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice. Rates, terms and conditions vary based on creditworthiness and qualifications. Subject to credit qualifications and approval. All applicants must meet membership eligibility requirements.