Mortgage Rates

Rates effective as of May 17, 2013. Payments shown do not include taxes and insurance premiums.

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If you are interested in a loan term less than 15 years,
please call Elfcu's Mortgage Hotline at (317) 277-8226 or (800) 561-9433.

Conventional Program Rate Points APR Payment
40 Year Fixed Please call 0.000 N/A N/A
30 Year Fixed 3.750% 0.000 3.870% $694.67
20 Year Fixed 3.500% 0.000 3.620% $869.94
15 Year Fixed 3.125% 0.000 3.245% $1,044.91
1 Year ARM (Conforming) 5.000% 0.500 5.120% $805.23
1 Year ARM (Non-conforming) 5.000% 0.625 5.120% $805.23

Loan Quote Assumption: Rates and payments quoted above are based on loans secured by property in the state of Indiana. Rates and payments, closing costs and points may vary by property location, loan type and borrower credit and income characteristics. Not all applicants qualify for our lowest rates.

Rates are based on a purchase transaction for a single family primary residence with a loan amount of $150,000, FICO score of 740 or greater and 20% down.

Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply.

Notice Regarding Adjustable Rate Mortgages: Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase but the APR will not exceed 18%.

Jumbo Program Rate Points APR Payment
Jumbo 15 Year Fixed Please call 0.000 N/A N/A
Jumbo 30 Year Fixed 4.250% 0.000 4.300% $2,090.74

Loan Quote Assumption: Rates and payments quoted above are based on loans secured by property in the state of Indiana. Rates and payments, closing costs and points may vary by property location, loan type and borrower credit and income characteristics. Not all applicants qualify for our lowest rates.

Rates are based on a purchase transaction for a single family primary residence with a loan amount of $425,000, FICO score of 740 or greater and 20% down.

Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply.

Government Program Rate Points APR Payment
30 Year FHA Fixed 3.500% 0.000 3.620% $673.57
15 Year FHA Fixed 3.000% 0.000 3.120% $1,035.87
30 Year VA Fixed 3.500% 0.000 3.620% $673.57
15 Year VA Fixed 3.000% 0.000 3.120% $1,035.87

Loan Quote Assumption: Rates and payments quoted above are based on loans secured by property in the state of Indiana. Rates and payments, closing costs and points may vary by property location, loan type and borrower credit and income characteristics. Not all applicants qualify for our lowest rates.

Rates are based on a purchase transaction for a single family primary residence with a loan amount of $150,000, FICO score of 740 or greater and 20% down.

Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply. 

Portfolio Refinance Program Rate Points APR Payment
10 Year Fixed 3.000% 0.000 3.120% $1,448.41
7 Year Fixed 2.875% 0.000 2.995% $1,973.56
5 Year Fixed 2.750% 0.000 2.870% $2,678.67

Rates and payments quoted above or based on loans secured by property in the state of Indiana. APRs and payments are calculated using loan amounts of $150,000, FICO score of 740 or greater and loan to value of 80% for a single family primary residence. To lock in the rate, the following costs apply: the greater of $750 or 1% of the loan amount up to a maximum of $2,000. Rate are subject to change without notice.

Home Equity Lines of Credit Rate Points Variable Annual Percentage Rate
HELP (<$50,000) Lines of Credit 3.750% 0.000 3.750%
HELP ($50,000+) Lines of Credit 3.750% 0.000 3.750%
Equity Visa® (<$50,000) 3.750% 0.000 3.750%
Equity Visa® ($50,000+) 3.750% 0.000 3.750%

Home Equity Closed End Loans Rate Points Annual Percentage Rate Months Payment
HELP1 - 15 yr, Variable Rate (<$50,000)  3.750%  0.000  3.750%*  First Month  $181.81 
HELP1 - 15 yr, Variable Rate ($50,000+)  3.750%  0.000  3.750%*  First Month  $727.22 
HELP 1R - 15 yr, Variable Rate (Rental Properties) <$50,000  4.750%  0.000  4.750%*  First Month  $228.10 
HELP 1R - 15 yr, Variable Rate (Rental Properties) $50,000+  4.750%  0.000  4.750%*  First Month  $912.40 
5/10 Loan (5 yrs fixed rate/10 yrs variable) 1st Mortgage  3.875%  0.000  3.995%  1-60  $733.44 
  *    *  61-180  * 
5/10 Loan (5 yrs fixed rate/10 yrs variable) 2nd Mortgage  4.875%  0.000  4.995%  1-60  $784.30 
  *    *  61-180  * 
5/7 Rental Property (5 yrs fixed rate/7 years variable) 1st Mortgage  4.875%  0.000  4.995%  1-60  $918.63 
  *    *  61-144  * 
5/7 Rental Property (5 yrs fixed rate/7 years variable) 2nd Mortgage  5.875%  0.000  5.995%  1-60  $969.39 
  *    *  61-144  * 
10/5 Loan (10 yrs fixed rate/5 yrs variable) 1st Mortgage  4.000%  0.000  4.120%  1-120  $739.69 
  *    *  121-180  * 
10/5 Loan (10 yrs fixed rate/5 yrs variable) 2nd Mortgage  5.000%  0.000  5.120%  1-120  $790.79 
  *    *  121-180  * 

Annual Percentage Rates (APRs) are calculated using loan amounts of $100,000 (except for the HELP1 and 1R < $50,000 which are based on $25,000), FICO score of 740 or greater and loan to value of 80% for a single family residence.

* The APR for HELP, HELP1 and 1R, Equity Visa and the second term of the 5/10, 5/7 and 70/5 loans is variable and is based on The Wall Street Journal Prime Rate as published on the 1st business day of every month plus or minus a margin and will vary with the Prime Rate, but will not exceed 18%. Payments for the variable portion of the 5/10, 5/7 and 10/5 loans will depend on the then current index, margin and remaining outstanding loan balance.

Programs, rates, terms and conditions are subject to change without notice. Cumulative loan to value and loan to value ratios, margins, rates, and payment amount may be higher or lower than the advertised rate and payment amount.

Fees: A $75 processing fee applies to all home equity loan applications. State-specific and title insurance fees may apply. The 5/10, 5/7, Rental Property and 10/5 loans have closing costs equal to the greater of $499 or 1% of the loan amount up to maximum of $2,000.