Mortgage Loan

Service for a lifetime, at a savings you’ll appreciate...

Looking for a new home or thinking about refinancing? Want to consolidate debt or maybe your home is in need of improvements? Just the thought of getting a Mortgage can be confusing and a bit frightful.

The Mortgage loan professionals here at ASECU will assist you with making the right choice at a savings you’ll appreciate.

Interest rates continue to remain low. Now is a good time to consider refinancing to lower your monthly payment, or purchasing the new home you’ve always wanted.

ASECU now offers a variety of mortgage products to fit our member’s needs. We offer long or short term financing with fixed or adjustable rates. ASECU knows one size does not fit all. 

Our credit union members benefit from low closing costs, great terms and personal service. Apply today. Applications taken by phone, fax, on-line or in person. To request an application package call 1-800-634-9171 (long distance) or within Montgomery and the surrounding areas call 334-270-9011

Purchase or Refinance
Jumbo Loans and Investment Properties
Up to 40 Year Terms
Advantage Home Loan 100% Financing for Purchases
Fixed and Adjustable Rates
Credit Plus Program
Home Equity Prime Asset Line of Credit
2nd Mortgage up to 100% LTV w/ Zero Closing Costs
Unimproved Property - Land Loans
Construction Loans

Purchase or Refinance
Your credit union has just what you need to make the transaction go smoothly and at a savings you’ll appreciate. Financing is limited to Owner Occupied Primary and/or Second Homes, and Investment Properties up to 4 units. The property must be located in the State of Alabama.

Purchase – That dream home can become a reality with as little as zero down for borrowers who qualify. We offer terms and interest rates to fit most anyone’s budget. First time homebuyer or Jumbo for that mansion on the lake – choose ASECU!

Refinance – Need cash to consolidate debts? Want to add on a new bathroom or pool? Want to take advantage of the lowest rates available in 30 years and reduce your current term? We’ve got what it takes to meet almost any need to refinance. Lower rates, lower closing cost…..another good reason to choose ASECU.

Jumbo Loans
Origination fees won’t eat you up on these loans. With a low Origination Fee of $750.00 you’ll save more with ASECU. Competitive rates and easy terms make owning your dream (no matter how big), a dream come true.

Investment Properties will practically pay for themselves when financed with ASECU.

We’ll finance up to 4 units on our 15, 20 or 30 Year Fixed Rate programs or you can choose a Balloon Option or maybe an Adjustable Rate Mortgage. The rates are low and we’ll finance up to 90% of the purchase price or appraised value, whichever is less. The best choice is ASECU. Let us finance your next Investment! Properties must be located in the State of Alabama.

15, 20, 30 and even 40 Year Fixed Rate Terms
ASECU offers both short and long term financing. Planning on retiring in the near future and want to own your home free and clear? Choose our low interest 15 Year Fixed with no pre-payment penalty. Buying your very first home or need a lower monthly payment? Choose the competitive rates available on our 40 Year fixed. Not sure which term is best for you? Click here to use our payment calculator.

Advantage Home Loan - 100% Financing
Want to take advantage of low rates but still having trouble saving the down payment for your dream home? You could stop paying rent and move into a new home with as little as zero down if you qualify. This loan combines 1st and 2nd mortgage so you don't clear out your savings account and you don't have to pay PMI. Contact a loan officer today and find out how you can be a homeowner faster with an Advantage Home Loan. Subject to credit approval and underwriting approval. Properties are limited to purchase of a primary residence located in the state of Alabama only.

Fixed and Adjustable Rate Mortgages
Our Fixed rates are low, our Adjustable rates are even lower. Your Interest rate can be "locked in" at application or you can choose to float your rate while your loan is in process on the chance the rate may go lower. Fixed rates remain "fixed" for the life of the loan. Adjustable rates are subject to change under the terms of your note. Usually the rate is fixed for an initial period of 3, 5 or 7 Years and then can adjust annually. An ASECU mortgage loan professional can assist you with the details of an Adjustable Rate Mortgage and help you decide if one is right for you. Rates are available daily after 10:00 A.M. Contact your loan officer for today’s rate.

Home Equity Prime Asset Line of Credit
Take advantage of the equity you have in your home to make improvements, pay college tuition or consolidate high interest debts. You may gain an additional Tax Deduction as well. Consult with your Tax Advisor for complete details. This is an open ended line of credit. The funds are available for your use for up to 5 years with a repayment period of 15 years. The interest rate is adjusted on the first business day of each calendar quarter.  Rates are as low as Prime Rate for qualified borrowers with an annual adjustment cap of 2%.  The maxinum rate payable is 18% or as allowable by law. The new rate is calculated based on the Prime Rate plus a margin determined by credit qualification. You can finance up to 90% of the value of your home minus any 1st mortgage lien, with a minimum credit line of $5,000.00. Payments are calculated at $12.00 per $1000.00 of the balance or fraction thereof owed on the credit line. Closing costs are paid by the Credit Union if you take an initial draw of $10,000 or more and agree to pay only the minimum monthly payment for the first 6 months.  Closing costs to third parties are usually $300-$700 in most cases.  Certain conditions apply. Please call a loan officer for full details. Ask for an "Advance Equity Line of Credit Disclosure" and the booklet - "When Your Home is On the Line".

100% Home Equity 2nd Mortgage
If you want quick, easy, and no hassle financing this loan is right for you. Whether you have a little or a lot of equity this loan will meet your needs. Up to 100% financing of the equity in your home based on the Tax or Appraisal Value (the Credit Union will accept an existing appraisal if less than 1 year old). No closing cost means more of the equity goes into your pocket. Minimum loan amount $5,000.00 and the maximum is based on your loan to value up to 100%, minus what is owed on the first mortgage. Save even more and lower your interest rate on this loan by signing up for payroll deduction or automatic transfer to make your loan payments. The interest you pay may be tax deductible, consult with your Tax Advisor to be sure.

Unimproved Property – Land
Have you found the perfect future home site or great lot on the lake? Don't let it get away, purchase it today. ASECU now offers competitive rates and easy terms for financing land. Finance your land purchase with as little as 20% down for 5 years on a fixed rate or up to 30 years on an adjustable rate. ASECU will loan up to 80% of the purchase price or appraised value, whichever is less. The land must be located within the state of Alabama. Maximum loan amount $200,000. See a loan officer or request an application package for complete details.