Constellation Federal Credit Union

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Constellation Federal Credit Union
7214 Arlington Blvd
Falls Church, VA 22042

Phone
(703) 573-0970

Home Equity

NO CLOSING COSTS For New Equity Loans!
Conditions apply. See a loan officer for details.
Fixed Rate Home Equity Loans
Meteor

This equity loan has a fixed rate and payment for the term of the loan. Convenient payment terms are available from 60 to 240 months. The Meteor loan is disbursed with one check at settlement. Financing is available for up to 90% of current home value (less first mortgage) for the DC metropolitan area and up to 85% for all other areas. The minimum loan amount is $25,000.00. Maximum financing is $275,000 or 80% of current home value (whichever is less). All loans without net check payroll deduction are 1% higher.

Equity Line of Credit Loans
Hubble Equity Line of Credit
Dec 31, 2010

Introductory rate of 4.99% until Dec 31, 2010 *
(Introductory rate for refinance from another Financial Institution Only)

Pay as you go with the equity line of credit. Take loan advances, in increments of $1000 up to your available credit limit. A variable-rate, open-end line of credit, tied to Prime with a margin of 0%. Adjustments, after the introductory period, occur quarterly with an annual cap of 2.00% and a lifetime cap of 14.00%. The rate floor is 4.00% Loan payment is amortization over 240 months . The minimum credit limit is $25,000. Financing available up to 95% of the current home value (less first trust), if the first mortgage is financed with CFCU. If first mortgage is not financed with CFCU, then you are eligible to qualify for up to 90% of the value in the home (less the first trust). Properties outside the Washington DC metropolitan area are eligible for up to 80% of the value of the home (less first trust).
Star Visa Platinum*

This is a equity line of credit with a Platinum VISA Card for major purchases. A variable rate, open-end line of credit tied to the 26-week T-Bill. The rate floor is 5.00% with a ceiling of 15.00% over the life of the loan. Margin is 5.00%. Rate adjustments occur at the beginning of each quarter. Minimum credit limit is $5,000 with a maximum loan limit of $25,000. A VISA Platinum card is available, but not required.

Minimum loan amount $5,000- Maximum loan amount $25,000.
Mortgages

The benefits of mortgage with the credit union include:

* No lender closing fees*
* No escrow payments**
* No private mortgage insurance (PMI)
* No broker fees
* Credit Union servicing available up to 80%
* Additional financing is available up to 95%

*You pay for appraisal, title, and recording fees. The credit union's financing options are available with no fees or points. **You may open a regular savings or money market to save for taxes and insurance. We have dividend bearing accounts that you can use and set up automatic payroll allotments.

Please contact our loan department at 1-800-826-3818 with any questions.