MORTGAGES

Peabody Municipal FCU is proud to offer our members Federally Secure Mortgage Programs - FHA, VA, USDA Rural Housing, Reverse Mortgages Conventional Loans and more. There are several options for members looking to purchase or refinance and receive cash out. 96.5% and 100% financing available.

FHA and FHA 203K rehabilitation Loans require only 3.5% down payment. Purchases or Refinances available for members with lower Fico scores and higher LTV's. Solid fixed rate loans. FHA and FHA 203K rehabilitation Loans require only 3.5% down payment. Purchases or Refinances available for members with lower Fico scores and higher LTV's. Solid fixed rate loans.

VA - Veteran Loans
All VA loans are 0% down - 30 Year Fixed Rates - 100% Financing - No PMI - Available on purchases and 90% LTV cash out.
 

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H.A.R.P. 2.0 Mortgages
Home Affordable Refinance Program (HARP) started in April 2009. It goes by several names. The government calls it Making Home Affordable Plan, the Obama Refi Plan, the DU Refi+ and the Relief Refinance.

How do I know if I'm eligible for HARP 2.0?
If you answer "yes" to all of the following questions, you may be eligible!
● Is your mortgage loan currently owned by either Fannie Mae or Freddie Mac?
● Was your loan sold to Fannie Mae or Freddie Mac prior to June 1, 2009?
● Is your current loan-to-value greater than 80%?
● Is your mortgage up-to-date with all payments made on time in the past 6 months,

   and no more than one late payment in the past 12 months?
● If you are HARP-eligible, you must close on your mortgage prior to January 1, 2014.


Mortgage products offered in partnership with Allanach Mortgage Group.

Broker's licenses CT#7160, MA#MB6033, RI#20051935LB, NH#5616