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Luso Federal Credit Union
Land

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.

Land Fixed Rate

Land Adjustable Rate











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



Land Fixed Rate / Owner Occupied
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lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Points Term Rate APR
0 Points 5 Year 7.500% 7.871%
0 Points 10 Year 8.500% 8.725%
0 Points 15 Year 9.500% 9.682%
1 Point 5 Year 7.250% 8.063%
1 Point 10 Year 8.250% 8.716%
1 Point 15 Year 9.250% 9.612%
2 Points 5 Year 7.000% 8.236%
2 Points 10 Year 8.000% 8.697%
2 Points 15 Year 9.000% 9.553%
APR: Annual Percentage Rate is based on a $150,000.00 loan amount, unless otherwise noted.








Land Adjustable Rate / Owner Occupied
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lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Review Policy: Reviews CAP at 6% for the life of the mortgage, but will not exceed a 2% adjustment at each review.
Points Term Rate APR Index CAP Margin
0 Points 1/1 7.000% 5.013% 1 YR Treasury 2/6 + 2.50%
0 Points 3/3 7.250% 5.897% 3 YR Treasury 2/6 + 2.50%
0 Points 5/1 7.500% 5.923% 1 YR Treasury 2/6 + 2.50%
1 Point 1/1 6.750% 5.060% 1 YR Treasury 2/6 + 2.50%
1 Point 3/3 7.000% 5.927% 3 YR Treasury 2/6 + 2.50%
1 Point 5/1 7.250% 5.901% 1 YR Treasury 2/6 + 2.50%
2 Points 1/1 6.500% 5.127% 1 YR Treasury 2/6 + 2.50%
2 Points 3/3 6.750% 5.957% 3 YR Treasury 2/6 + 2.50%
2 Points 5/1 7.000% 5.879% 1 YR Treasury 2/6 + 2.50%
APR: Annual Percentage Rate is based on a $100,000.00 loan amount, with a 30- YR amortization.








      

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