Caltech Employees Federal Credit Union
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First Trust Deed (5-Year Re-price/15 Year Fixed)
CEFCU offers a COMPETITIVE and EXCLUSIVE product for members who want payment structure and lower monthly expense. Our 5-Year Re-price program stays fixed for 5 years with no negative amortization. Members are protected by a 2% cap every 5 years and a 5% lifetime cap.
Want more exciting news?
CEFCU now offers its popular 5-Year Re-price mortgage amortized over 40 years!
This program is ideal for first-time homebuyers or trade-up borowers facing high home prices or dealing with rising rates and higher payments on existing adjustable-rate mortgages.
- Lower, more affordable monthly payments
- No rate increase for extended term
- More buying power
- More cash in hand
With this mortgage, your repayment schedule is calculated over a 40-year period (480 payments). As a result, your monthly payment will be less than what it would be with a standard 30-year (360 payments)
fixed rate mortgage. Better yet... you will enjoy a lower monthly payment along with superior program advantages including a 60-day rate lock with one float down.
CEFCU’s 15-Year Fixed Mortgage is exclusively designed for members who are looking for a fixed monthly payment. A 15-year term mortgage offers a lower interest rate than a 30-year mortgage. This means, you save a significant amount of interest over the life of your loan compared to a mortgage of the same amount for a 30-year term. The shorter term also makes it possible to build equity faster and to own your home outright sooner!
Talk to one of our mortgage loan advisors today to evaluate if this program is right for you! Call (800) 592-3328 ext. 404.
Rates, terms and conditions are subject to change. Rate and payment fixed for first 5 years. May adjust every 5 years thereafter based on market rates. All loans subject to credit approval. Certain exceptions may apply. CEFCU is an Equal Housing Lender and Equal Opportunity Lender.
