Loan Program

First-Time Homebuyer

Our First-Time Homebuyer Products* offer great benefits that include:

 

  • Financing up to 97% for eligible first-time homebuyers
  • Lender paid mortgage insurance
  • Gift funds accepted as a down payment
  • Flexible fixed and adjustable rate terms

 

*Must be a Georgia United member to apply. A First-Time Homebuyer is defined as an individual who has had no ownership in a principal residence during the three year period ending on the date of purchase of the property. This offer is available only for owner-occupied primary residences located in the state of Georgia.

Example payment quotes are based on a property value of $100,000 and a loan amount of $97,000 with a down payment of $3,000 (LTV = 97%). Payments quoted do not include amounts for taxes and insurance premiums; your actual obligation will be higher.

 

Mortgage TypeExample Annual Percentage Rate (APR)Example Payment
30 year fixed4.125%$470.12
20 year fixed3.875%$581.44
15 year fixed3.375%$687.50
10 year fixed3.250%$947.88

 

Example payment quotes for Adjustable Rate Mortgages (ARMs) are based on a property value of $100,000 and a loan amount of $95,000 with a down payment of $5,000 (LTV = 95%). Payments quoted do not include amounts for taxes and insurance premiums; your actual obligation will be higher.

 

Mortgage TypeExample Annual Percentage Rate (APR)Example Payment
10/1 Adjustable Rate Mortgage3.750%$439.97
7/1 Adjustable Rate Mortgage3.500%$426.60
5/1 Adjustable Rate Mortgage3.375%$420.00
3/1 Adjustable Rate Mortgage3.250%$413.45

 

The Annual Percentage Rate (APR) stated is an estimate and is intended for informational use only.  Your actual APR may vary based on your actual loan amount. Rates are subject to change without notice.  Your actual rate may be different, as many factors are evaluated for a loan approval. Adjustable Rate Mortgages (ARMs) are fixed for the initial term selected and may adjust annually thereafter. Please contact one of our Home Loan Consultants for additional information about our rates and fees.

 

Other Features for Adjustable Rate Mortgages (ARMs):

  • Rate caps – 2% per adjustment and 5% over the life of the loan. A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan.
  • Index – 1 year Treasury
  • Margin – 2.875%

Fixed Rate First Mortgages

  • No underwriting fees
  • No intangible tax
  • Lower origination fees
  • Low down payment options
  • Includes 10 – 30 year terms*

 

Example payment quotes are based on a property value of $200,000 and a loan amount of $100,000.  Payments quoted do not include amounts for taxes and insurance premiums; your actual payment obligation will be higher.

 

Mortgage TypeExample Annual Percentage Rate (APR)Example Payment
30 year fixed3.750$463.12
20 year fixed3.500$579.96
15 year fixed3.000$690.59
10 year fixed2.875$959.85

 

The Annual Percentage Rate (APR) stated is an estimate and is intended for informational use only.  Your actual APR may vary based on your actual loan amount. Rates are subject to change without notice.  Your actual rate may be different, as many factors are evaluated for a loan approval. Please contact one of our Home Loan Consultants for additional information about our rates and fees.

Adjustable Rate Mortgages (ARMs)

If you’re not planning on staying in your home very long, consider that an ARM might be the best fit for you. ARMs offer you the lowest possible interest rate while allowing you to enjoy the security of a fixed rate for the first few years. Georgia United offers ARMs in a variety of terms. Financing up to 97% available for eligible terms. Other features include:

 

  • A lower qualifying rate, which allows for increased buying power
  • Ability to keep payments lower during the early years of their loan
  • If the buyer plans to move within the next 7 to 10 years
  • Ideal for buyers that plan to pay off the mortgage within the next 7 to 10 years
  • Buyers that expect their household income to increase significantly in the coming years

 

Example payment quotes are based on a property value of $100,000 and a loan amount of $97,000 with a down payment of $3,000 (LTV = 97%). Payments quoted do not include amounts for taxes and insurance premiums; your actual obligation will be higher.

 

Mortgage TypeExample Annual Percentage Rate (APR)Example Payment
10/1 ARM3.375%$428.84
7/1 ARM3.125%$415.53
5/1 ARM3.000%$408.96
3/1 ARM2.875%$402.45

 

The Annual Percentage Rate (APR) stated is an estimate and is intended for informational use only.  Your actual APR may vary based on your actual loan amount. Rates are subject to change without notice.  Your actual rate may be different, as many factors are evaluated for a loan approval. Adjustable Rate Mortgages (ARMs) are fixed for the initial term selected and may adjust annually thereafter. Please contact one of our Home Loan Consultants for additional information about our rates and fees.

 

Other Features for Adjustable Rate Mortgages (ARMs):

  • Rate caps – 2% per adjustment and 5% over the life of the loan. A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan.
  • Index – 1 year Treasury
  • Margin – 2.875%

Jumbo Loans

A Jumbo Loan is available for members who are in the market for a high-priced or luxury home. If you have a lower debt-to-income ratio, a high credit score, and the funds available for a large down payment, a Jumbo Loan may be right for you.

 

Georgia United offers Jumbo Loans on amounts over $417,000.

 

Our Jumbo Loan features include:

  • Financing up to $5,000,000
  • Competitive rates and low closing costs
  • No jumbo rate overlay up to $625,500
  • Available for primary and second homes
  • Variety of fixed rate and adjustable rate options
  • Georgia United also has first and second combination loans available

Manufactured Home Loans

Manufactured homes consists of factory-built homes that have been engineered and constructed in accordance with the federal building code administered by the U.S. Department of Housing and Urban Development (HUD).

 

For our manufactured home loans we offer:

  • Purchase or limited cash out
  • Up to 80% financing
  • Limit to financing in Georgia only

 

Example payment quotes are based on a property value of $100,000 and a loan amount of $80,000 with a down payment of $20,000 (LTV = 80%). Payments quoted do not include amounts for taxes and insurance premiums; your actual obligation will be higher.

 

Mortgage Type- FirstExample Annual Percentage Rate (APR)Example Payment
30 year fixed3.750$370.50
20 year fixed3.500$463.97
15 year fixed3.000$552.47

 

 

Mortgage Type – ARMExample Annual Percentage Rate (APR)Example Payment
10/1 ARM3.375%$353.68
7/1 ARM3.125%$342.71

 

The Annual Percentage Rate (APR) stated is an estimate and is intended for informational use only.  Your actual APR may vary based on your actual loan amount. Rates are subject to change without notice. Your actual rate may be different, as many factors are evaluated for a loan approval. Adjustable Rate Mortgages (ARMs) are fixed for the initial term selected and may adjust annually thereafter. Please contact one of our Home Loan Consultants for additional information about our rates and fees.

 

Other Features for Adjustable Rate Mortgages (ARMs):

  • Rate caps – 2% per adjustment and 5% over the life of the loan.  A rate cap is a limit on how much the rate can change at the end of each adjustment period over the life of the loan.
  • Index – 1 year Treasury
  • Margin – 2.875%

Land/Lot Loans

Thinking of taking on the task of building your perfect dream home? Then our land/lot loan is the perfect avenue for you! Benefits include:

 

  • Up to 80% financing
  • Includes 5, 10 or 15 year terms

 

Example payment quotes are based on a property value of $100,000 and a loan amount of $80,000 with a down payment of $20,000 (LTV = 80%).

 

Land/Lot LoanExample Annual Percentage Rate (APR)Example Payment
15 years8.000%$764.78
10 years8.000%$970.86
5 years8.000%$1622.35

 

The Annual Percentage Rate (APR) stated is an estimate and is intended for informational use only.  Your actual APR may vary based on your actual loan amount. Rates are subject to change without notice.  Your actual rate may be different, as many factors are evaluated for a loan approval. Please contact one of our Home Loan Consultants for additional information about our rates and fees.