First Mortgage Loans
FIXED RATES* Effective May 1, 2017: 4.00% APR for 15 Years / 4.10% APR for 20 Years
FHA, VA, USDA, and Conventional Mortgages with longer terms of 30 years and no money down options are also available through NAECU. Please contact either the main office at 256-533-5389 or the Athens office at 256-232-3611 for information on these additional mortgage loan programs.
- Estimated Closing Costs: See a Loan Officer at our Main Office or Athens Office for Closing Costs.
- Proof of homeowners insurance is required at the mortgage closing. Flood insurance is required when property is located in a flood zone.
- For Purchases: Maximum amount for financing is either 85% of the appraised value or 85% of the sales price, whichever is less on owner occupied property.
- For Refinances: Maximum amount for financing is 85% of the appraised value on owner occupied property.
North Alabama Educators Credit Union: NMLS # 634521
*Rates quoted as annual percentage rates. Rates and loan availability are subject to change without notice. Information given is based on owner occupied property. All mortgage loans are subject to credit approval and must meet all mortgage qualifications. Applicants for mortgage loans must have been a member of North Alabama Educators Credit Union for at least 6 months to obtain this mortgage loan. Internal refinancing of NAECU loans is not available for this Promotion.
Easy Equity Mortgage Loans
How to Apply for the Loan
All information listed below is required and must be submitted at the same time. Applications are accepted at the Credit Union's main office on Whitesburg Drive, Athens Office, Sparkman Drive office, and our Madison Office. Please note that maximum loan amounts are $50,000 with a minimum new loan amount of $10,000.00;
- Completed loan application signed by all applicants.
- Copy of your property deed.
- Copy of the latest tax assessment showing the tax appraised value.
- Copy of your latest payroll stub of each applicant. If self-employed or if you have additional income other than your regular employment, you will need to furnish your last two years tax returns.
- Pay required fee(s). There is a $125.00 Application Fee.
Proof of homeowners insurance showing North Alabama Educators Credit Union as the mortgage holder will be required at loan closing. Proof of flood insurance will be required if the property location is in a designated flood zone.
RATES AND LOAN AVAILABILITY ARE SUBJECT TO CHANGE WITHOUT NOTICE. LOANS ARE AVAILABLE FOR OWNER OCCUPIED PROPERTY ONLY. MEMBERS MUST MEET MORTGAGE QUALIFICATIONS FOR ALL LOANS.
For additional information please call 1-800-547-8172 (Main Office), 256-533-5389 (Main Office), 256-852-0408 (Sparkman Office), 256-232-3611 (Athens Office), or 256-722-5046 (Madison Office). NAECU - NMLS # 634521.