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Luso Federal Credit Union
Jumbo Mortgage

Whether you're trading up, refinancing for a better rate, or purchasing your first home, LUSO will help you take control of your investment while giving you the information and guidance to make it all possible. We will work with you to finance a mortgage that is simplified to meet your specific needs and individual budget.

For complete details on any mortgage product, call 413-589-9966 or stop by LUSO Federal Credit Union and speak with one of our loan professionals. Loan applicants must live, work, worship, attend school or have a business in Hampden County. Family members of the credit union also qualify.

Click on the product you want to learn about.

Conforming Jumbo Fixed Rate Mortgage

Special Rate Offer: Conforming Jumbo Fixed Rate Mortgage

Non Conforming Jumbo Fixed Rate Mortgage

Special Rate Offer: NonConforming Jumbo Fixed Rate Mortgage

Conforming Jumbo Adjustable Rate Mortgage

Special Rate Offer: Conforming Jumbo Adjustable Rate Mortgage

Non Conforming Jumbo Adjustable Rate Mortgage

Special Rate Offer: NonConforming Jumbo Adjustable Rate Mortgage











Rates are effective as of Monday, September 7, 2010.
Rates are subject to change without notice.



Conforming Jumbo Fixed Rate Mortgage / New Construction Owner Occupied
Minimum Loan Amount: $417,000.00
Fees: Fees vary and are due at application.
Down Payment: A 20% down payment is required; less than a 20% down payment will require MGIC insurance; less than a 30% down payment will require real estate tax escrow.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Terms and Conditions: Loan terms and conditions, including interest rate and/or fees, are subject to change due to the resulting risk rating assigned by the Credit Union's secondary market investor. Factors used in determining risk ratings include certain loan characteristics such as points, loan amount, loan-to-value, borrower's credit, property type, occupancy, and loan purpose.
Construction Term Policy: The construction phase is limited to a maximum (12) month period.
Points Term Rate APR
0 Points 10 Year 4.375% 4.551%
0 Points 15 Year 4.500% 4.624%
0 Points 20 Year 4.750% 4.857%
0 Points 25 Year 5.000% 5.088%
0 Points 30 Year 5.000% 5.077%
1 Point 10 Year 4.250% 4.641%
1 Point 15 Year 4.375% 4.649%
1 Point 20 Year 4.625% 4.884%
1 Point 25 Year 4.875% 5.063%
1 Point 30 Year 4.875% 5.039%
2 Points 10 Year 4.125% 4.734%
2 Points 15 Year 4.250% 4.676%
2 Points 20 Year 4.500% 4.838%
2 Points 25 Year 4.750% 5.038%
2 Points 30 Year 4.750% 5.002%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, unless otherwise noted.
First Time Home Buyer Special
Conforming Jumbo Fixed Rate Mortgage / New Construction Owner Occupied
Points Term Rate APR
0 Points 30 Year Fixed 4.875% 4.917%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, unless otherwise noted.








Non Conforming Jumbo Fixed Rate Mortgage / New Construction Owner Occupied
Minimum Loan Amount: $417,000.00
Fees: Fees vary and are due at application.
Down Payment: A 20% down payment is required; less than a 20% down payment will require MGIC insurance; less than a 30% down payment will require real estate tax escrow.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Terms and Conditions: Loan terms and conditions, including interest rate and/or fees, are subject to change due to the resulting risk rating assigned by the Credit Union's secondary market investor. Factors used in determining risk ratings include certain loan characteristics such as points, loan amount, loan-to-value, borrower's credit, property type, occupancy, and loan purpose.
Construction Term Policy: The construction phase is limited to a maximum (12) month period.
Points Term Rate APR
0 Points 10 Year 5.875% 6.028%
0 Points 15 Year 6.000% 6.110%
0 Points 20 Year 6.250% 6.341%
0 Points 25 Year 6.500% 6.581%
0 Points 30 Year 6.500% 6.572%
1 Point 10 Year 5.750% 6.124%
1 Point 15 Year 5.875% 6.141%
1 Point 20 Year 6.125% 6.341%
1 Point 25 Year 6.375% 6.564%
1 Point 30 Year 6.375% 6.543%
2 Points 10 Year 5.625% 6.222%
2 Points 15 Year 5.750% 6.174%
2 Points 20 Year 6.000% 6.342%
2 Points 25 Year 6.250% 6.547%
2 Points 30 Year 6.250% 6.513%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, unless otherwise noted.
First Time Home Buyer Special
Non Conforming Jumbo Fixed Rate Mortgage / New Construction Owner Occupied
Points Term Rate APR
0 Points 30 Year Fixed 6.375% 6.433%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, unless otherwise noted.








Conforming Jumbo Adjustable Rate Mortgage / New Construction Owner Occupied
Minimum Loan Amount: $417,000.00
Fees: Fees vary and are due at application.
Down Payment: A 20% down payment is required; less than a 20% down payment will require MGIC insurance; less than a 30% down payment will require real estate tax escrow.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Terms and Conditions: Loan terms and conditions, including interest rate and/or fees, are subject to change due to the resulting risk rating assigned by the Credit Union's secondary market investor. Factors used in determining risk ratings include certain loan characteristics such as points, loan amount, loan-to-value, borrower's credit, property type, occupancy, and loan purpose.
Review Policy: Reviews CAP at 6% for the life of the mortgage, but will not exceed a 2% adjustment at each review.
Construction Term Policy: The construction phase is limited to a maximum (12) month period.
Points Term Rate APR Index CAP Margin
0 Points 1/1 5.250% 3.161% 1 YR Treasury 2/6 + 2.50%
0 Points 3/3 5.750% 4.177% 3 YR Treasury 2/6 + 2.50%
0 Points 5/1 6.000% 4.139% 1 YR Treasury 2/6 + 2.50%
0 Points 7/1 6.250% 4.652% 1 YR Treasury 2/6 + 2.50%
0 Points 10/1 6.500% 5.337% 1 YR Treasury 2/6 + 2.50%
1 Point 1/1 5.000% 3.201% 1 YR Treasury 2/6 + 2.50%
1 Point 3/3 5.500% 4.183% 3 YR Treasury 2/6 + 2.50%
1 Point 5/1 5.750% 4.115% 1 YR Treasury 2/6 + 2.50%
1 Point 7/1 6.000% 4.599% 1 YR Treasury 2/6 + 2.50%
1 Point 10/1 6.250% 5.248% 1 YR Treasury 2/6 + 2.50%
2 Points 1/1 4.750% 3.257% 1 YR Treasury 2/6 + 2.50%
2 Points 3/3 5.250% 4.209% 3 YR Treasury 2/6 + 2.50%
2 Points 5/1 5.500% 4.091% 1 YR Treasury 2/6 + 2.50%
2 Points 7/1 5.750% 4.546% 1 YR Treasury 2/6 + 2.50%
2 Points 10/1 6.000% 5.159% 1 YR Treasury 2/6 + 2.50%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, with a 30- YR amortization.
Special Rate Offer
Conforming Jumbo Adjustable Rate Mortgage / New Construction Owner Occupied
Points Term Rate APR Index CAP Margin
0 Points 6/1 6.000% 4.328% 1 YR Treasury 2/6 + 2.50%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, with a 40- YR amortization.








Non Conforming Jumbo Adjustable Rate Mortgage / New Construction Owner Occupied
Minimum Loan Amount: $417,000.00
Fees: Fees vary and are due at application.
Down Payment: A 20% down payment is required; less than a 20% down payment will require MGIC insurance; less than a 30% down payment will require real estate tax escrow.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Terms and Conditions: Loan terms and conditions, including interest rate and/or fees, are subject to change due to the resulting risk rating assigned by the Credit Union's secondary market investor. Factors used in determining risk ratings include certain loan characteristics such as points, loan amount, loan-to-value, borrower's credit, property type, occupancy, and loan purpose.
Review Policy: Reviews CAP at 6% for the life of the mortgage, but will not exceed a 2% adjustment at each review.
Construction Term Policy: The construction phase is limited to a maximum (12) month period.
Points Term Rate APR Index CAP Margin
0 Points 1/1 6.250% 3.320% 1 YR Treasury 2/6 + 2.50%
0 Points 3/3 6.750% 4.626% 3 YR Treasury 2/6 + 2.50%
0 Points 5/1 7.000% 4.609% 1 YR Treasury 2/6 + 2.50%
0 Points 7/1 7.250% 5.272% 1 YR Treasury 2/6 + 2.50%
0 Points 10/1 7.500% 6.125% 1 YR Treasury 2/6 + 2.50%
1 Point 1/1 6.000% 3.362% 1 YR Treasury 2/6 + 2.50%
1 Point 3/3 6.500% 4.603% 3 YR Treasury 2/6 + 2.50%
1 Point 5/1 6.750% 4.581% 1 YR Treasury 2/6 + 2.50%
1 Point 7/1 7.000% 5.205% 1 YR Treasury 2/6 + 2.50%
1 Point 10/1 7.250% 6.025% 1 YR Treasury 2/6 + 2.50%
2 Points 1/1 5.750% 3.404% 1 YR Treasury 2/6 + 2.50%
2 Points 3/3 6.250% 4.580% 3 YR Treasury 2/6 + 2.50%
2 Points 5/1 6.500% 4.557% 1 YR Treasury 2/6 + 2.50%
2 Points 7/1 6.750% 5.148% 1 YR Treasury 2/6 + 2.50%
2 Points 10/1 7.000% 5.925% 1 YR Treasury 2/6 + 2.50%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, with a 30- YR amortization.
Special Rate Offer
Non Conforming Jumbo Adjustable Rate Mortgage / New Construction Owner Occupied
Points Term Rate APR Index CAP Margin
0 Points 6/1 7.000% 4.550% 1 YR Treasury 2/6 + 2.50%
APR: Annual Percentage Rate is based on a $417,000.00 loan amount, with a 40- YR amortization.
































      

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