1. The $395 cash is a rebate of processing fees and available for first mortgage purchase transactions only; refinances do not qualify. First mortgage purchase products are available for loans up to $1 Million. This offer is not available on investment property loans. The offer applies to loans with a completed application date between January 1, 2020 through June 30, 2020, and closing date on or before October 31, 2020. The $395 cash rebate on processing fees will be deposited in your PFFCU Savings Account (S0001) within 15 business days after PFFCU receives the Final Closing Disclosure. Offer is subject to credit approval and underwriting and is subject to change without notice. No other PFFCU Mortgage discounts apply. Contact us for details.
2. HomeAdvantage® program is made available to you through a relationship between PFFCU and CU Realty Services. Program Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage® network. Home buyers or sellers are not eligible for Program Cash Rewards if they use an agent outside this network. Using PFFCU for a mortgage is not a requirement to earn Program Cash Rewards. Program Cash Rewards amount is dependent on the commission paid to the agent. Program Cash Rewards is paid directly by CU Realty Services and will be paid within 60 days of closing. PFFCU may have specific rules on how your Program Cash Reward will be paid out. Please consult with a PFFCU Mortgage Advisor to get details that may affect you. States and/or major metropolitan areas included in the HomeAdvantage® program include: DE, PA, and NJ. HomeAdvantage® is a registered trademark of CU Realty Services, LLC. The Program Cash Rewards may be taxable. Police and Fire Federal Credit Union does not provide tax advice, please consult a tax advisor. Offer is subject to change without notice.
3. $995 EXPRESS Refi fee waiver available for EXPRESS Refi transactions only, purchase loans or refinance of an existing PFFCU portfolio loan does not qualify. EXPRESS Refi products are available for loans up to $1 Million. The offer applies to loans with a completed application date between January 1, 2020 through June 30, 2020, and closing date on or before August 31, 2020. Offer is subject to credit approval and underwriting and is subject to change without notice. No other discounts apply, cannot be combined with any other offers. Contact us for details.
4. Members are responsible for all mortgage taxes in Florida, including, but not limited to the Documentary Stamp Tax. Non-Owner Occupied Home Equity Lines of Credit not available in Florida.
5. The APR will vary with the Market based on the Prime Rate, may adjust monthly, and is SUBJECT TO CHANGE WITHOUT NOTICE. It will be an “Index” minus a “Margin”. The “Index” for any given month will be equal to the “Prime Rate” posted in the Selected Interest Rates section of the Federal Reserve website at www.federalreserve.gov, fifteen days prior to the beginning of each month. If the Selected Interest Rates section is not updated that day, we will select the rate on the next day it is updated. If the Index changes on or before this day in any given month, your APR and monthly periodic rate may change on your statement that is produced on or after the first day of the subsequent month. On 11/18/19, the applicable Prime Rate was 4.75%. The “Margin” is -0.75%. Your APR thus equals the Prime Rate of 4.75% minus 0.75% with an APR of 4.00% which reflects a 1/4% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU. The maximum Annual Percentage Rate that we may impose will not exceed that permitted to be charged by a federally chartered credit union, which at the time of this disclosure is 18.00%. The minimum APR that can apply is 2.99%. Advances of credit are permissible for five years (the draw period) during which the minimum monthly payment will equal the finance charges plus any other charges (the minimum payment will not reduce the principal balance that is outstanding on the line). After the draw period, the outstanding balance must be repaid over 15 years. Home Equity Line of Credit must be secured by a member’s primary residence and have a maximum LTV of less than 80%. Please consult a tax advisor regarding the deductibility of interest. Offer does NOT apply to the refinance of an existing PFFCU loan.
6. $150 is charged if you choose an appraisal upgrade.