Real Estate / Land Loans

To apply, please contact the credit union to schedule an appointment with a loan representative.

Home Loan Solutions

We understand that real estate financing is a critical part of your financial portfolio and we’re here to help at MOOG Employees FCU. Whether you’re buying a first home, refinancing an existing mortgage, or need a home equity loan, we can provide you with a wide variety of solutions.

For more information or to apply for one of our home loan solutions, contact our real estate lending department at (716) 655-2360.

Purchase Mortgage Loans

At MOOG Employees FCU, we take special pride in helping families achieve their financial dreams. We offer competitive fixed rate mortgage loans at an array of terms to fit the individual needs and desires of each family.

Advantages of a MOOG Employees FCU mortgage:

  • No escrow required

  • Financing up to 95% - restrictions apply

  • No PMI insurance required

  • Terms available up to 30 years

  • Low closing costs

  • No prepayment penalties

  • Convenient automatic payment transfers from your Share Savings Account

Refinancing

Lower interest rates have made this a good time to refinance your mortgage. With a lower interest rate, you can save thousands of dollars over the life of your mortgage. 

Take advantage of lower rates by:

  1. Reducing the term of your mortgage. With a lower interest rate, you can pay your mortgage off faster while keeping your monthly payments the same.

  2. Lowering your monthly payments. If you prefer to keep the same mortgage term, a lower interest rate can reduce your monthly payments.

Refinance your existing credit union mortgage at a lower rate!!

Home Equity/Home Equity Saver*

Whether you need money to buy a car, build an addition, send the kids to college, pay bills, or anything else, your home equity could be the key. You decide exactly how much you want to borrow, and your rate and payments are fixed over the life of the loan, with repayment terms as long as 180 Months (15 years) for a first residence and 144 Months (12 years) for a second residence. If eligible, you can borrow up to 85% of the appraised value (minus any first mortgage).

*The term for a home equity saver is a maximum of 7 years; maximum loan amount is $25,000.00.

Home Improvement Loans

Get a low interest rate home improvement loan to help you get the money you need for those much needed home repairs. You can borrow money to completely remodel your home or just fix it up. Even slight improvements to your home will raise the value and make it more attractive. Maximum loan amount $20,000.

Land Loans

Land loan applications have the same requirements as first mortgage purchase applications (including full appraisal, application fees and appropriate closing costs). 

The following terms apply to purchase land loans:

  • Loan cannot exceed $200,000.00

  • Maximum repayment term cannot exceed 15 years

  • Maximum lot size cannot exceed 15 acres

  • Lots must be zoned residential

  • Lots must remain unimproved for the life of the loan

  • Currently owned, unimproved land may be borrowed against

  • Members may purchase more than one lot as long as the aggregate total does not exceed $200,000.00 or 15 acres

  • Interest rate charged will be equal to the current 30 year first mortgage rate at the 95% loan to value ratio

  • Loan cannot exceed 70% of the appraised value

Terms and conditions apply for all real estate/land loans. Rates and terms are subject to change without notice.