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Brooklyn Cooperative - Federal Credit Union
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Mortgages

Mortgages

Home ownership is an important element of economic empowerment and it contributes to the fabric of our neighborhoods.  Yet buying a home and obtaining a mortgage these days has become more challenging.

At Brooklyn Cooperative, we will give your application a fair review and you can meet with the underwriter directly. Come in and speak to a loan officer regarding prequalification or the credit union’s mortgage rates. We offer low closing costs and reasonable interest rates.

All mortgage loans are available either at fixed or variable rates, depending on the applicant’s individual situation and preferences. 

current rates

 

Fees (other than
application fee)

Maximum
Term

Type

Rates*

Residential Real Estate

0.5% origination

40 years

 

 

-- 1st mortgage

 

 

Fixed

4.43% - 5.40%

-- 2nd mortgage

 

 

Fixed

6.43%

-- 1st mtg, loan or loc

 

 

Adjustable

4.00%

-- 2nd mtg, loan or loc

 

 

Adjustable

6.00%

-- coop (1st lien only)

 

 

Fixed

5.50% - 5.90%

Loan application fees  
Member $20.00
Co-signer $20.00
Real estate loan $200.00

* Rates are effective as of 8 August 2013.

These rates may be adjusted as market rates change. Please confer with a loan officer to discuss your application.