Marshland Community Federal Credit Union
Ā Mortgage Center

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Marshland Federal Credit Union offers a variety of loan terms and programs to meet your needs. In addition to the highly popular fixed rate loan programs on this web site, we also offer adjustable rate mortgages, balloon notes, lot loans, home equity loans and construction loans. If a loan program exists, chances are we have it. Feel free to email Bo Russell at  brussell@marshlandfcu.coop for more details or any mortgage related questions.
 
15 Year Conventional
15 Year FHA
15 Year VA
20 Year Conventional
20 Year FHA
20 Year VA
30 Year Coventional
30 Year Fixed FHA
30 Year Fixed USDA
30 year Fixed VA
Jumbo 15 Fixed
Jumbo 30 Fixed
Mobile Home and Land 15 Year Fixed

15 Year Conventional

 

 These are vanilla conventional loans that may be used for purchasing or refinancing. Loan amounts are available up to 97% of the appraised value on refinances, or sales price on purchases. Loans over 80% require mortgage insurance which protects the lender against default. If you are in a situation requiring mortgage insurance (MI), rest assured that in most cases on conventional loans Marshland Members enjoy much lower MI rates than can be found elswhere.

Term: 15 years   Maximum Amount: $417,000

15 Year FHA

 FHA loans are very popular for first time home buyers, but are not limited to that group. FHA has more lenient guidelines and can accommodate borrowers with minor credit problems. FHA also allows non-occupying borrowers to help you qualify for a loan, (i.e. Mom & Dad). All FHA loans have mortgage insurance. The mortgage insurance rates are set by HUD. Loan amounts go up to 96.5% of the sales price or appraised value.

Term: 15 years   Maximum Amount: $276,250

15 Year VA

 

VA loans are exclusively for veterans and their spouses. If you qualify, it is the best loan program available for purchasing a home because there is no down payment and no monthly mortgage insurance. If a veteran is refinancing, he or she may utilize up to 90% of the home's appraised value. Only if your loan to value is 80% or less would a conventional loan possibly be a better choice.

Term: 15 years   Maximum Amount: $417,000

20 Year Conventional

 

 These are vanilla conventional loans that may be used for purchasing or refinancing. Loan amounts are available up to 97% of the appraised value on refinances, or sales price on purchases. Loans over 80% require mortgage insurance which protects the lender against default. If you are in a situation requiring mortgage insurance (MI), rest assured that in most cases on conventional loans Marshland Members enjoy much lower MI rates than can be found elswhere.

Term: 20 years   Maximum Amount: $417,000

20 Year FHA

 FHA loans are very popular for first time home buyers, but are not limited to that group. FHA has more lenient guidelines and can accommodate borrowers with minor credit problems. FHA also allows non-occupying borrowers to help you qualify for a loan, (i.e. Mom & Dad). All FHA loans have mortgage insurance. The mortgage insurance rates are set by HUD. Loan amounts go up to 96.5% of the sales price or appraised value.

Term: 20 years   Maximum Amount: $276,250

20 Year VA

 

VA loans are exclusively for veterans and their spouses. If you qualify, it is the best loan program available for purchasing a home because there is no down payment and no monthly mortgage insurance. If a veteran is refinancing, he or she may utilize up to 90% of the home's appraised value. Only if your loan to value is 80% or less would a conventional loan possibly be a better choice.

Term: 20 years   Maximum Amount: $417,000

30 Year Coventional

 

 These are vanilla conventional loans that may be used for purchasing or refinancing. Loan amounts are available up to 97% of the appraised value on refinances, or sales price on purchases. Loans over 80% require mortgage insurance which protects the lender against default. If you are in a situation requiring mortgage insurance (MI), rest assured that in most cases on conventional loans Marshland Members enjoy much lower MI rates than can be found elswhere.

Term: 30 years   Maximum Amount: $417,000

30 Year Fixed FHA

 FHA loans are very popular for first time home buyers, but are not limited to that group. FHA has more lenient guidelines and can accommodate borrowers with minor credit problems. FHA also allows non-occupying borrowers to help you qualify for a loan, (i.e. Mom & Dad). All FHA loans have mortgage insurance. The mortgage insurance rates are set by HUD. Loan amounts go up to 96.5% of the sales price or appraised value.

Term: 30 years   Maximum Amount: $276,250

30 Year Fixed USDA

 The 100% USDA loan program is one of our most popular loan programs for first time home buyers, but is not limited to that group. There is no down payment requirement and the seller can pay all of your closing costs if you can negotiate it.  The down side is that not everyone is eligible for this program. There are three exclusions: , 1-if you already own a home you do not qualify. 2-Total family income cannot be over $74,650 for up to a family of 3, and cannot be over $98,650 for a family of 4 or more. AND 3- There is a Geographic exclusion, to see if the areas that are in the USDA territory, go to this web site and use the map tool to zoom in. Generally speaking in our area All of McIntosh, Wayne, Brantley and Ware counties are OK, and the western edge of Glynn county and northern half of Camden. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

 

 

Term: 30 years   Maximum Amount: $417,000

30 year Fixed VA

VA loans are exclusively for veterans and their spouses. If you qualify, it is the best loan program available for purchasing a home because there is no down payment and no monthly mortgage insurance. If a veteran is refinancing, he or she may utilize up to 90% of the home's appraised value. Only if your loan to value is 80% or less would a conventional loan possibly be a better choice.

Term: 30 years   Maximum Amount: $417,000

Jumbo 15 Fixed

 Marshland offers a truely great value for jumbo loans. We cap our origination fee at $2500 no matter how much you are financing, this is considerably less than the industry standard of .5% -.75% of the loan amount.

Term: 15 years   Maximum Amount: $2,500,000

Jumbo 30 Fixed

 Marshland offers a truely great value for jumbo loans. We cap our origination fee at $2500 no matter how much you are financing, this is considerably less than the industry standard of .5% -.75% of the loan amount.

Term: 30 years   Maximum Amount: $2,500,000

Mobile Home and Land 15 Year Fixed

Marshland offers In-House portfolio loans that allow Mobile Home and Land packages as collateral. Terms are up to 15 years and the loans go up to 80% of the sales price on purchases and 80% of the appraised value on refinances.

Term: 15 years  
 

Mobile homes only without land are not allowed.




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $25,510. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,500,000 with closing costs of $30,000. Your actual APR may be different depending upon these factors.