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Fixed Rate Mortgages
Adjustable Rate Mortgages
FHA Mortgages
Reverse Mortgages
Frequently Asked Questions
Mortgage Calculators
Personalized Quote
Rate Watch
Finance your home with ABCO and take advantage of:
- Competitive Rates
 - Minimal closing fees
- Low Downpayment for Qualified Borrowers*
- A variety of financing options
- Credible, trustworthy service
*Based on a member's credit worthiness and other factors.
Mortgage Options
Conventional Fixed Rate Mortgages
A traditional loan which maintains its original interest rate throughout its life. Conventional fixed rate mortgages are the most widely used type of loan. The security of a fixed payment is an attractive financing option for many customers.
An adjustable rate mortgage, or an "ARM" as they are commonly called, is a loan type that offers a lower initial interest rate than most fixed rate loans. The trade off is that the interest rate can change periodically, usually in relation to an index, and the monthly payment will go up or down accordingly. This type of loan is often an effective tool for members planning to move or refinance within a few years. For more information contact the Mortgage Dept. at 1.866.441.8632.
FHA (Federal Housing Administration) Loans
An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA). With low down payments, and consideration for non-traditional credit histories such as on-time rent, utility and insurance payments, FHA loans make this an excellent time to take steps toward home ownership. For more information contact the Mortgage Dept. at 1.866.441.8632.
Reverse Mortgages
A reverse mortgage is a loan that enables senior homeowners, age 62 and older, to convert part of their home equity into tax-free* income—without having to sell their home, give up title to it, or make monthly mortgage payments. The loan only becomes due when the last borrower (s) permanently leaves the home. If you're at least 62 years old, have paid off your home, and need money to help the kids, pay off debt, or cover medical expenses, a reverse mortgage might be a good option for you. Receive monthly payments instead of making them. For more information contact the Full-Service Lending Center at 1.800.225.1859 ext. 7613.
Not sure which mortgage type is right for you?
Contact one of our Mortgage Counselors for a tailored mortgage plan to help meet your financial goals at Mortgage Dept. at 1.866.441.8632.
Frequently Asked Questions
Mortgage Calculators
Wondering around how much your monthly payment will be? Or if it make sense to pay points to get a lower interest rate? Use our convenient mortgage calculators to find answers to these and other questions.
Personalized Quote
For a personalized idea of what your monthly payment and closing costs will be in the town/city where you are looking to buy, get a personalized quote.
Rate Watch
 Let ABCO Federal Credit Union keep an eye on interest rates so that you don't have to! We'll e-mail you when rates reach your goal or if you prefer, we'll e-mail current rate information on a regular basis. Sign up for Rate Watch Now
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