Kamis, 05 Juli 2012

Getting to Know Emery Federal Credit Union

Getting to Know Emery Federal Credit Union

Ken Merritt plays a Navy pilot in this Navy Federal Credit Union Ad

mortgagecalculator-tips.blogspot.com Navy Federal Credit Union Ad

Navy Federal Credit Union in Vienna, Va., has established a commercial loan participation program in which it will buy business loans from other credit unions that are nearing their cap on business lending. Navy Federal to Buy Other Credit Unions' Business Loans

Whether you are trying to buy a home (or your second one), or raise money for your children’s education or for your family’s health purposes, you can’t run away from this one global phenomena that is happening everywhere to almost everyone. Perhaps you’ve heard of it…. it’s called mortgage (there’s also refinance, actually, but let’s go one by one). If you have not heard of it before, then you are either Mark Zuckerberg (or people who are within the range of wealth as him), or you’re a 10-year-old. If you’re the former... how would you like to donate a house to poor little me? And if you’re the latter… don’t worry, kid, sooner or later you’ll need to know these things.

But I’m getting off-tracked. To make a long story short, anyone who is thinking about taking a mortgage or refinance mortgage should first of all do his/her homework.

What homework, you ask? Homework about the banks you want to approach regarding this issue. Trust me, I should know the importance of this; my father nearly drove our family into bankruptcy when he did not do a thorough investigation on this one bank from which he was taking a mortgage. This does not mean that you shouldn’t take any recommendation from your friends or relatives, though. It simply means that you may want to do your own checking, and since the competition among banks are quite stiff these days, it may do you good to compare the rates and fringe benefits from each bank so you can get the best deal.

I’m getting off-tracked again. I really want to talk about this institution called the Emery Federal Credit Union, which has been around since 1939. Unlike most financial institutions out there, the Emery Federal Credit Union is a non-profit institution that also happens to be member-owned.

It dedicates itself to serving its members by transferring the excess earning back to members through low interest rates, high yield savings and low/no convenience fee! You can sleep soundly in the nights knowing how safe your money is, as it is federally insured with the National Credit Union Administration (NCUA).

When you buy a house (or any property for that matter), you’ll most likely need a mortgage to help you with the payment. For the uninitiated, a mortgage is a pledge to put up a certain property as collateral to a loan, and in this case, the collateral would be the house that you’re buying. If you are unable to repay the mortgage payments, your creditor would likely repossess your house. If this is your first mortgage on that house, then it is known as a first mortgage. There are usually two types of first mortgage, namely the fixed rate and adjustable rate mortgage. The Emery Federal Credit Union mortgage service provides both types.

Now, if you’re imposing a mortgage on a house that already has a mortgage on it, then it is known as a second mortgage or refinance mortgage. In a layman’s term, it is like renewing your old mortgage but (usually) with lower interest rates (and hence lower monthly payments too). There are many types of refinance mortgages available, such as VA mortgages, Loan-to-Value (LTV) loans, Home Equity Loans, Home Equity Line of Credit (HELOC), Cash-out Refinance and FHA Loans. Are all these also available in Emery Federal Credit Union? Yes, you can get them within the Emery Federal Credit Union refinance service!

Not only that, in order to make consumers’ lives easier, there are also a variety of online tools made ready on its website. You can check the updated interest rates there, as well as use their online financial calculators to assist you in your decision making. But don’t just take my word for it â€" do your homework!

Suggest Getting to Know Emery Federal Credit Union Issues

Question by Kim: Navy Federal Credit Union, Universal Default? Do they raise interest rate on credit cd based on mortgage defau I have NFCU credit card at a decent rate and we've been with them over 10 years. Do they raise interest rate if we go default on mortgage due to short sale or foreclosure? Best answer for Navy Federal Credit Union, Universal Default? Do they raise interest rate on credit cd based on mortgage defau:

Answer by mom2grls0204
I have NFCU too and I believe you they give you one chance. If you default once thats a no no but if you default again they will consider you high risk, even if you have been with them a long time and raise you APR. Doesn't matter why you defaulted you did. Hope that helps....

[navy federal credit union mortgage]

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