Global Has New Ways to make Your Dream Home a Reality
 
 
First-Time Homebuyer Program:
Are you buying your 1st Home?  We can help with our First-Time Homebuyer Program:
  • Only 3% down payment
  • Gift funds from family are allowed
  • Fixed and Adjustable rate programs available
Federally insured by NCUA. OAC. Rates subject to change and based on creditworthiness. Credit union membership is required for loan approval.  First time home buyer means no home ownership in the last 3 years. Example of fixed rate terms of repayment: Loan amount: $180,000, 30 year fixed rate of 4.625%, 360 monthly payments of $925.46. Example of 5/1 ARM terms of repayment: Loan Amount of $180,000 at a APR of 4.125% would have an initial payment of $872.37  • The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. • After the initial 5 year period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (1.640% as of December 14, 2016) plus a margin of 2.875%. •The maximum periodic change in the interest rate on the first adjustment is  5.00% maximum subsequent rate increases of 2.00%. • If the interest rate adjusted to the maximum rate (which
could not occur until after the fifth year), the maximum monthly payment would be $1,383.00 on a $180,000 loan amount •There is no prepayment penalty. •The Annual Percentage Rate (APR) is
variable and is subject to increase or decrease, so your payments may increase or decrease each year after the initial period. Contact Global Credit Union at 509.455.HOME for full program details.

 

Rehabilitation
Program
Buying a home that needs some repairs?  We have a solution for that with Global’s Rehabilitation Program:
  • Borrow up to $25,000.00
  • Receive a 4-month draw period
  • Upto 95% Loan to Value
Federally insured by NCUA. OAC. Rates subject to change and based on creditworthiness. Credit union membership is required for loan approval. Example of fixed rate terms of repayment: Loan amount: $180,000, 30 year fixed rate of 4.625%, 360 monthly payments of $925.46. Example of 5/1 ARM terms of repayment: Loan Amount of $180,000 at a APR of 4.125% would have an initial payment of $872.37  • The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. • After the initial 5 year period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (1.640% as of December 14, 2016) plus a margin of 2.875%.  • The maximum periodic change in the interest rate on the first adjustment is  5.00% maximum subsequent rate increases of 2.00%. • If the interest rate adjusted to the maximum rate (which could not occur until after the fifth year), the maximum monthly payment would be $1,383.00 on a $180,000 loan amount •There is no prepayment penalty. •The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year after the initial period. Maximum $25,000 for repairs; repairs must be completed in a 4-month timeframe. Contact Global at 509.455.HOME for program details.
 

Land Only – with Improvements:


Planning for your future retirement home or looking for a lake place? Global can finance land!
  • 15 fixed rate
  • 5/1 Adjustable rate
  • Non habitable outbuildings included in value
Federally insured by NCUA. OAC. Rates subject to change and based on creditworthiness. Credit union membership is required for loan approval. Example of fixed rate terms of repayment: Loan amount: $180,000 15 year fixed rate of 5.875%, 180 monthly payments of $1,506.82. Example of 5/1 ARM terms of repayment: Loan Amount of $180,000 at a APR of 4.875% would have an initial payment of $952.57  •The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. • After the initial 5 year period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (1.640% as of December 14, 2016) plus a margin of 2.875%. • The maximum periodic change in the interest rate on the first adjustment is  5.00% maximum subsequent rate increases of 2.00%. • If the interest rate adjusted to the maximum rate (which could not occur until after the fifth year), the maximum monthly
payment would be $1,485 on a $180,000 loan amount •There is no prepayment penalty. • The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year after the initial period. Contact Global Credit Union at 509.455.HOME for full program details.



80/15/5 Program
:
Do you need a combination loan?  Global offers this unique program for
 
  • 1st Mortgage 80% loan to value; no Mortgage Insurance
  • 2nd Mortgage 15% loan to value; up to 20 year terms
  • Gift fund from family are allowed
Federally insured by NCUA. OAC. Rates subject to change and based on creditworthiness. Credit union membership is required for loan approval. Global Credit Union closed-end secondary financing only. Example of fixed rate terms of repayment: Loan amount: $180,000, 30 year fixed rate of 4.625%, 360 monthly payments of $925.46. Example for the 2nd mortgage;  Loan amount of $180,000 on the 1st mortgage would result in a 2nd mortgage loan amount of $33,750.00 at 5.99% fixed with 240 payments of $241.67 Example of 5/1 ARM terms of repayment: Loan Amount of $180,000 at a APR of 4.125% would have an initial payment of $872.37  • The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. • After the initial 5 year period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (1.640% as of December 14, 2016) plus a margin of 2.875%.  •The maximum periodic change in the interest rate on the first adjustment is  5.00% maximum subsequent rate increases of 2.00%. • If the interest rate adjusted to the maximum rate (which could not occur until after the fifth year), the maximum monthly payment would be $1,383.00 on a $180,000 loan amount •There is no prepayment penalty. •The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year after the initial period. Contact Global Credit Union at 509.455.HOME for full program details.
 
 
Bank Statement Program
:
Are you self-employed? What if your tax returns do not reflect your real income?
Global provides the Bank Statement Program.  We can use documented bank statement income
 
  • 80% Loan to Value on purchases
  • Fixed and Adjustable Rate options
Federally insured by NCUA. OAC. Rates subject to change and based on creditworthiness. Credit union membership is required for loan approval. Current 12-month bank statements will be used to determine credit qualifications. Example of fixed rate terms of repayment: Loan amount: $180,000 30 year fixed rate of 5.125% 360 monthly payments of $980.08. Example of 5/1 ARM terms of repayment: Loan Amount of $180,000 at a APR of 4.125% would have an initial payment of $872.37  • The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. • After the initial 5 year period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (1.640% as of December 14, 2016) plus a margin of 2.875%.  • The maximum periodic change in the interest rate on the first adjustment is  5.00% maximum subsequent rate increases of 2.00%. • If the interest rate adjusted to the maximum rate (which could not occur until after the fifth year), the maximum monthly payment would be $1,383.00 on a $180,000 loan amount •There is no prepayment penalty. •The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year after the initial period. Contact Global at 509.455.HOME for program details.