After covering two mortgage promotions earlier this week, we were yet again notified of another noteworthy offer this time from Affinity Plus Federal Credit Union of Minnesota (thanks to BankVibe.com reader Alesky for submitting this one!).
Before we dive into the features, terms and conditions of the new home loan and mortgage promotion though, we want to first reveal their membership eligibility checklist as it’s fairly exclusive.
Who Can Join?
Anyone employed by the state of Minnesota, the University of Minnesota, or anyone involved in organizations that receive funding from the State of Minnesota – including most schools, community colleges, private and public universities, nursing homes and hospitals, counties, cities, municipalities and nonprofit groups. You may also join if you happen to live, work or attend church in the following cities: Roseville, Arden Hills, Mounds View, Shoreview, St. Anthony, and New Brighton.
Affinity Plus Federal Credit Union Mortgage Promotion:
(Rates and bonus available as of October 2011. Visit our mortgage center for updated mortgage rates and products from around the country.)
For any APFCU member looking to either refinance their current mortgage or obtain a mortgage for a new home, they can do so with APFCU waiving all closing costs (equivalent to several thousands in savings). The only catch with this option is that your APR will increase by 0.25%. If you’d rather not have the APR increase on your mortgage rate then you can still receive a discounted closing cost by $1,499 with absolutely no rate hike.
This offer is valid through the Fall with an undetermined official end date.
Terms and Conditions:
- Offer valid on 1st mortgage products only.
- All loans subject to approval.
- Rate adjustments may apply.
- $1,499 closing costs include the use of Affinity Plus Title.
- Price subject to change with outside title company.
- Payment example:$150,000 loan at 5.00% APR, with closing cost paid by the member on a 360 month term, principle and interest payments are $805.34 monthly. Escrow, taxes and insurance will increase your payments.
Visit a local Affinity Plus Federal Credit Union branch to apply.