Loan Details
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11/20/2008 3:11:09 AM
Fixed Rate Loans

For the purpose of purchasing or refinancing a primary, second home, or investment property. Rates quoted below require a 1.00% origination fee. This fee may be waived for a 0.25% increase in the interest rate. Rates are based on 80% of the value of your home. May exceed 80% with mortgage insurance or a 2nd mortgage combination.

Product Interest Rates APR
40 Yr Conforming 6.375% 6.457%
30 Yr Conforming 5.875% 5.986%
20 Yr Conforming 5.750% 5.874%
15 Yr Conforming 5.250% 5.404%
12 Yr Portfolio 5.250% 5.437%
10 Yr Conforming 5.250% 5.470%
APR= Annual Percentage Rate. Rates and terms effective as of the date listed above and are subject to change without notice. Rates shown are the lowest rates offered for the products advertised. Other options available at higher rates. Applicants who do not qualify for these rates and/or terms may be offered credit at a higher rate and/or different terms. Hazard insurance required on all loans secured by real property. Flood insurance may be required. Corresponding APR based upon a loan value of $200,000. Please contact a First Flight associate at 1-866-447-0690 for full disclosures. Membership eligibility may be required.
No Money Down Loans

For purchase money loans on primary residences only. Rates quoted below require a 1.00% loan origination fee. This fee may be waived for a 0.25% increase in the interest rate. All My Community loans are required to have mortgage insurance coverage up to 20%.

Product Interest Rates APR
30 Yr Fixed My Community 6.250% 6.375%
30 Yr Fixed Flex 100/97 6.125% 6.220%
40 Yr Fixed My Community 6.875% 6.960%
40 Yr Fixed Flex 100/97 6.625% 6.723%
5/1 ARM My Community 5.500% 5.591%
5/1 ARM Flex 100/97 5.500% 5.591%
APR= Annual Percentage Rate. Rates and terms effective as of the date listed above and are subject to change without notice. Rates shown are the lowest rates offered for the products advertised. Other options available at higher rates. Applicants who do not qualify for these rates and/or terms may be offered credit at a higher rate and/or different terms. Hazard insurance required on all loans secured by real property. Flood insurance may be required. Corresponding APR based upon a loan value of $200,000. Please contact a First Flight associate at 1-866-447-0690 for full disclosures. Membership eligibility may be required.
Adjustable Rate Loans

For the purpose of pruchasing or refinancing a primary residence, second home, or investment properties. Multiple ARM options are availabe, including interest only payment options. All rates quoted below require a 1.00% loan origination fee which may be waived for a 0.25% increase in the interest rate. Rates are based on an LTV of 80%. For all ARM loans regardless of loan amount, mortgage insurance is required if the LTV exceeds 80%. Payments on all ARMs are based on a 30-year amortization.

Product Interest Rates APR Caps Margin I/O Available
1 Yr LIBOR ARM 5.000% 5.089% 2/2/6 1.75 NO
3/1 LIBOR ARM 5.375% 5.466% 2/2/6 1.75 NO
5/1 LIBOR ARM 5.750% 5.843% 5/2/5 1.75 NO
7/1 LIBOR ARM 6.000% 6.094% 5/2/5 1.75 NO
10/1 LIBOR ARM 6.250% 6.375% 5/2/5 1.75 NO
APR= Annual Percentage Rate. Rates and terms effective as of the date listed above and are subject to change without notice. Rates shown are the lowest rates offered for the products advertised. Other options available at higher rates. Applicants who do not qualify for these rates and/or terms may be offered credit at a higher rate and/or different terms. Rate will change after loan consummation. Hazard insurance required on all loans secured by real property. Flood insurance may be required. Corresponding APR based upon a loan value of $200,000. Please contact a First Flight associate at 1-866-447-0690 for full disclosures. Membership eligibility may be required.
Construction Loans

This is a real estate secured loan that enables a customer to build a house. We can loan up to 95% of appraised value subject to completion. Once the borrower is pre-approved for a permanent loan we can do the construction loan. The contractor is paid for the work that is completed after every inspection is done to determine the percentage of completion. The borrower will only pay interest on the amount drawn against the Construction Loan. When construction is complete, the borrower has 30 days to modify the Construction Loan to one of our permanent financing options.

Product Interest Rates APR
6 Month Term Prime + 0.50% 8.662%
12 Month Term Prime + 1.00% 9.162%
APR= Annual Percentage Rate. Rates and terms effective as of the date listed above and are subject to change without notice. Rates shown are the lowest rates offered for the products advertised. Other options available at higher rates. Applicants who do not qualify for these rates and/or terms may be offered credit at a higher rate and/or different terms. Hazard insurance required on all loans secured by real property. Flood insurance may be required. Corresponding APR based upon a loan value of $200,000. Please contact a First Flight associate at 1-866-447-0690 for full disclosures. Membership eligibility may be required.
Government Loans

For purchasing or refinancing a primary residence. Rates quoted below require a 1.00% loan origination fee. All Veterans Administration loans are subject to a funding fee up to 3.35%. FHA loans will require a up-front mortgage insurance fee of 1.5%. VA loans are eligible for 100% LTV financing and FHA loan are eligible for 97.75% LTV financing.

Product Interest Rates APR
30 Year FHA 6.000% 6.238%
30 Year VA 6.000% 6.420%
15 Year FHA 5.500% 5.892%
15 Year VA 5.500% 6.192%
APR= Annual Percentage Rate. Rates and terms effective as of the date listed above and are subject to change without notice. Rates shown are the lowest rates offered for the products advertised. Other options available at higher rates. Applicants who do not qualify for these rates and/or terms may be offered credit at a higher rate and/or different terms. Hazard insurance required on all loans secured by real property. Flood insurance may be required. Corresponding APR based upon a loan value of $200,000. Please contact a First Flight associate at 1-866-447-0690 for full disclosures. Membership eligibility may be required.

Rates effective as of the date and time stamped above. Rates are subject to change at any time, and without notice. Call 1-800-807-0766 for our daily rate quotes.

Your savings federally insured to at least $100,000. National Credit Union Administration, a U.S. Government Agency
First Flight's routing number is 2531 7538 4

Copyright © 2006 First Flight Federal Credit Union. All Rights Reserved. | Tel (252) 447-0691 Tel (800) 807-0766 | Email informationdesk@firstflightfcu.org
First Flight Federal Credit Union Operations Center, 1208 E. Main St. Havelock , NC 28532