Contact Us at 757.569.6000
Home Loan Rates
Rates current as of January 11, 2021.
| Loan Type | Rate | APR* | Origination Fee | Discount Points |
|---|---|---|---|---|
| Mortgages** | ||||
| 30-Year Fixed | 3.000% | 3.147% | 0.00% | 0 |
| 20-Year Fixed | 3.000% | 3.279% | 0.00% | 0 |
| 15-Year Fixed | 2.750% | 3.109% | 0.00% | 0 |
| 10-Year Fixed | 2.625% | 3.147% | 0.00% | 0 |
| Home Equity Lines of Credit*** | ||||
| 4.00% | - | - | ||
| Home Equity Loans**** | ||||
| 10-Year Fixed | 4.49% | - | - | |
| 5-Year Fixed | 3.49% | - | - | |
| Lot Purchases | ||||
| 7.500% | - | - | ||
| Construction Loans | ||||
| 4.750% | N/A | 1.00% | - | |
Not yet a member? It's easy. Simply call 757.569.6000 or email us. Already a Bronco member and want to open another account? Call us or come on in and bring your ID.
DISCLOSURES:
*APR = Annual Percentage Rate. Must maintain adequate insurance. 5% penalty for late payments. Interest rate is determined by credit score. See a Real Estate Loan Specialist or contact us at 757.569.6000 for more details. Membership eligibility required.
Mortgages**
- Rates may change without notice
- Rates apply to primary residence purchases and refinances only.
- Higher rates may apply to cash-out refinances and Loan to Values exceeding 80%. Additional fees may apply.
- See a member service representative for more details.
Home Equity Lines of Credit***
- Annual Percentage Rate (APR) is based on the prime rate plus a margin and line amount and is subject to change monthly
- Rate will never exceed 18.00% APR by law (Your specific rate is based on the Prime Lending Rate plus a margin, which is established by the Federal Reserve and often fluctuates over time. Since a HELOC is a variable rate loan, if an increase in the Prime Lending Rate causes your HELOC rate to increase, by law it can never exceed 18.00%.)
- The minimum credit advance you can receive is $2,500 for the first advance and $250 for each subsequent advance
- Loan-to-Value of up to 80%, not to exceed $100,000
- 20 year term with an 8 year draw period and 12 year repayment period.
- 5% penalty for late payments.
- Fees, ranging from $300 to $500, may be incurred
- With a draw of $10,000 in new Bronco money, Bronco pays:
- all attorney fees and closing costs if a Bronco-preferred attorney is chosen or
- if not, $300 plus recording fees toward your chosen attorney and any remaining closing costs.
- Must maintain adequate property insurance
- Membership eligibility required
- See a Member Service Representative for more details
- See a tax advisor regarding deductibility of interest.
Home Equity Loans****
Must maintain adequate insurance. 5% penalty for late payments. Interest rate is determined by credit score. See a Real Estate Loan Specialist or contact us at 757.569.6000 for more details. Membership eligibility required.
- Rates may change without notice
- Rates are based on creditworthiness, loan amount and term of loan
- Rates shown may vary up to 6.75% depending on your credit report
- Your rate will never exceed 18% APR or the maximum allowed by law
- Fees for appraisals, inspections, title insurance, flood hazard determination, and recording charges, if applicable, may be paid by the borrower
- Loan-to-Value up to 90%, not to exceed $100,000.
- Appraisal required for any LTV over 70%.
- Bronco will pay $300 plus recording fees towards the closing attorney.