Your home is a special place and you have your own unique needs when it comes to mortgage financing. That's why Capitol View Credit Union offers a variety of first mortgage products. Whether you're buying a home, refinancing to lower your rate or payment, or simply taking some extra cash from your home, we have a program to fit your needs. We've partnered with Midwest Mortgage Partners and Central States Mortgage, to offer you a wide selection of first mortgage options.

*Loans must be a first mortgage on residences located within the State Of Iowa. Loans can generally be closed within 40 to 50 days. We also offer a VA Rate Program for qualifying Veterans.

 

Fixed Rate         15, 20 and 30 year terms are available

7 Year Ballon     30 year amortization, fixed rate for 7 years, then balloons

 

*5/1 ARM

The rate on this loan is fixed for the first five years, then adjusts annually on the anniversary date of the loan for the remainder of the term. When the loan becomes adjustable, the interest rate is indexed to the weekly average of U.S. Treasury Securities adjusted to a constant maturity of one year, plus a 2.75% margin. Adjustment caps are 2% maximum up or down per year, with a lifetime cap of 5% over the starting rate.

 

*YEARLY ARM

The interest rate is indexed to the weekly average of U.S. Treasury Securities adjusted to a constant maturity of one year, plus a 2.75% margin. This loan is adjusted annually on the anniversary date of the loan. Adjustment caps are 2% maximum up or down per year, with a lifetime cap of 6% over the starting rate.

 

*ADDITIONAL INFORMATION FOR THE FIXED RATE, 5/1 ARM, AND YEARLY ARM MORTGAGES

*No discount points

*Maximum loan amount is $322,700 (unless qualifying for a jumbo)

*50-day rate locks are available by signing a lock-in agreement

*$75 good faith deposit is required at time of application for pre-approvals

*Pre-approval letters are available

*Closing costs consist of an origination fee, plus actual costs for an

appraisal, title insurance, underwriting, and processing

*Escrow account to pay taxes, hazard insurance, and PMI requires additional

funds at closing

*Fixed rate loans will be sold to and serviced by PHH Mortgage.

*JUMBO MORTGAGES

Loans over $322,700 are considered a jumbo mortgage. Loans of this dollar amount are offered. Call us for rates on jumbo loans at 1-800-383-3595.

Rates are subject to change throughout the day. New rates are available after

11:00 am daily.

Click on the calculator button below to:

* Calculate principal and interest payments

* Pre-qualify yourself-click on "calculators" at the bottom of this page, then click on the calculator list button. You will have10 different mortgage calculators to help you pre-qualify yourself or click here .