Home Loans

• No application fee, no origination fee, no points fees
• Low closing costs, usually significantly less than a bank
• Your mortgage is underwritten internally — we do not sell it
• Payroll deduction available

Or call us at 706.291.9290,
or visit one of our locations

15-Year Mortgages

With today's low interest rates, more borrowers find shorter-term options affordable. If you can afford higher monthly payments, a 15-year mortgage is a great option. Why?

• Earlier freedom from mortgage payments
• Immense interest savings

Payments on a 15-year mortgage are not necessarily much higher than a 30-year, and the total cost savings is tremendous. Take a look at this example: For a $100,000 Mortgage at 6.5% interest, here is the break-down:

The 15-year mortgage would save you $70,802 in interest payments!

Home Equity Loans and Lines of Credit

Need to update your home, consolidate debt, or make a large purchase? Borrowing against your home’s equity might be the most economical choice. We offer two options: loans and lines of credit.

• A home equity loan, also known as a second mortgage, has a fixed rate for a set dollar amount and a 15-year term. The interest on these loans is usually tax-deductible. Home equity loans with the credit union offer low closing costs and excellent rates.
• A line of credit can be tapped as needed, up to a maximum amount in a 15-year period. The interest rate is variable. Money can be accessed for the first 7 years, and the remaining 8 years would be used to pay off the borrowed amount. Home equity lines of credit also have excellent rates and closing costs that are often slightly lower than the same amount borrowed as a home equity loan.

Northwest Georgia Credit Union is an Equal Housing Lender. Talk to your tax advisor to find out if you qualify for tax deductions.