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.

This estimate is based on a mortgage loan secured by a single family home that will be used as a primary residence. Other assumptions include: a loan amount of $176,000.00 an estimated property value of $220,000.00; a rate lock period of 45 days, and an assumed credit score of 720. If an escrow account is requested the actual monthly payment will be higher to include additional payments for real estate taxes and homeowner' s insurance premiums.

At 2.875% interest rate, and APR of 3.4% monthly principal and interest payments would be:  
  119 payments of $1,689.25 at an interest rate of 2.875%  
  1 payment $1,688.37 at an interest rate of 2.875%

At 3.000% interest rate, and APR of 3.361%, monthly principal and interest payments would be:  
  179 payments of $1,215.42 at an interest rate of 3.000%.  
  1 payment of $1,215.42 at an interest rate of 3.000%.

At 3.250% interest rate, and APR of 3.531%, monthly principal and interest payments would be:
  239 payments of $998.31 at an interest rate of 3.250%.  
  1 payment of $995.11 at an interest rate of 3.250%.

At 3.750% interest rate, and APR of 3.955%, monthly principal and interest payments would be: 
  359 payments of $815.19at an interest rate of 3.750%.  
  1 payment of $812.45at an interest rate of 3.750%.
 

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.

This estimate is based on a Home Equity loan secured by a single family home that will be used as a primary residence.  Other assumptions include:  a loan amount of $50,000.00 an estimated property value of $62,500.00: and an assumed credit score of 680 or higher

At 3.49% interest rate, and APR of 3.49% 60 monthly principal and interest payments would be
$909.36.    
    
At 4.49% interest rate, and APR of 4.49 120 monthly principal and interest payments would be $518.01.

See old disclosure statements