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IBMSECU offers a variety of loan programs to meet your needs. We are a leading lender in the conforming market. We offer loan products up to 97% of house value for 1st time home buyers.  No cash out refinance loan are available up to 95% of the house value.  Cash out refinance loans are available up to 80% of the home's value. For Home Affordable Refinance Program (HARP) loans exceeding 80% of the house value, rate adjustments may apply. For conforming, HARP and non-conforming loans, rate pricing adjustments may be applied based on credit history, property type, and occupancy, loan to value, subordinate financing, number of properties owned and subordinate financing.  We also offer Jumbo loans over $424,100.  Contact a loan officer for a rate quote. 

Home Equity Lines of Credit and Fixed Rate Equity Loans are considered refinance mortgages.

 
30 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
10 Year ARM
7 Year ARM
5 Year ARM
5 / 5 ARM
3 Year ARM
Home Equity Line of Credit (HELOC)
Equity 20 Year Fixed
Equity 15 Year Fixed
Equity 10 Year Fixed
Equity 7 Year Fixed

Rates last updated on Friday, October 13, 2017

30 Year Fixed

30 Year Fixed Rate mortgage - 360 monthly payments.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. 

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
3.875%4.127%1%
4.125%4.294%0%

20 Year Fixed

 20 Year Fixed Rate mortgage - 240 monthly payments. Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. 

Term: 20 years   Maximum Amount: $424,100
RatesAPRPoints
3.625%3.973%1%
3.875%4.107%0%

15 Year Fixed

 15 Year Fixed Rate mortgage - 180 monthly payments.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. 

Term: 15 years   Maximum Amount: $424,100
RatesAPRPoints
3.25%3.693%1%
3.5%3.795%0%

10 Year Fixed

10 Year Fixed Rate mortgage - 120 monthly payments.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. 

Term: 10 years   Maximum Amount: $424,100
RatesAPRPoints
3%3.641%1%
3.25%3.676%0%

10 Year ARM

10 Years Rate is Constant then Adjusts annually based on LIBOR rate plus a margin of 2.75%.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. Non-conforming loans will have a margin of 3.0%.

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
3.375%3.669%1%
3.625%3.741%0%
 

Principal and Interest Payment is fixed for 120 months.  On payment 121 the rate used to calculate the next 12 payments is based on the LIBOR Index Rate plus 2.75% margin (3% for non-conforming loans).  The floor for the rate is 2.75% and the rate will not exceed the Start rate by 5% over the life of the loan.


7 Year ARM

7 Years Rate is Constant then Adjusts annually based on LIBOR rate plus a margin of 2.75%.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments.  Non-conforming loans will have a margin of 3%.

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
3.25%3.628%1%
3.5%3.663%0%
 

Principal and Interest Payment is fixed for 84 months.  On payment 85 the rate used to calculate the next 12 payments is based on the LIBOR Index Rate plus 2.75% margin (3% for non-conforming loans).  The floor for the rate is 2.75% and the rate will not exceed the Start rate by 5% over the life of the loan.


5 Year ARM
5 Years Rate is Constant then Adjusts annually based on LIBOR rate plus a margin of 2.75%.  Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments.  Non-conforming loans will have a margin of 3%.

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
3.125%3.612%1%
3.375%3.619%0%
 

Principal and Interest Payment is fixed for 60 months.  On payment 61 the rate used to calculate the next 12 payments is based on the LIBOR Index Rate plus 2.75% margin (3% for non-conforming loans).  The floor for the rate is 2.75% and the rate will not exceed the Start rate by 5% over the life of the loan.


5 / 5 ARM

5 Year Adjustable Rate Mortgage with low closing costs.  Underwriting, Credit Report, Title Search & Exam, and mortgage recording fees are paid by the credit union.  Members are responsible for taxes, insurance, escrow accounts, prepaid interest, and realtor fees.  If the loan terminates within the first 24 months, the credit union requires reimbursement of closing costs paid by credit union.  Reimbursement of fees paid by credit union is capped at the lower of actual fees paid by IBMSECU or 2% of the amount borrowed.

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
3.5%4.232%1%
3.75%4.238%0%
 

The 5 / 5 ARM adjusts at 5 year increments.  This loan is different from other ARMs in that after the first adjustment, the next adjustment will not occur for 5 years.  5 year adjustments capped at 2% and lifetime cap of 6% above start rate.  Standard ARMs adjusts every 12 months after the first adjustment. Index is the Monthly Prime Rate published in Wall Street Journal.  The margin is based on credit score.


3 Year ARM

3 Years Rate is Constant then Adjusts annually based on LIBOR rate plus a margin of 1.75%. Rates published are based on a maximum loan to value of 75% for a purchase or 75% loan to value no cash out refinance of a single family primary residences with a credit score of 740 or higher.  Other properties types such as Condominiums, Townhouses, and investment properties are subject to other loan level pricing adjustments. Non-conforming loans will have a margin of 3%.

Term: 30 years   Maximum Amount: $424,100
RatesAPRPoints
2.75%3.479%1%
3%3.486%0%
 

Principal and Interest Payment is fixed for 36 months.  On payment 37 the rate used to calculate the next 12 payments is based on the LIBOR Index Rate plus 2.75% margin (3% for non-conforming loans).  The floor for the rate is 2.75% and the rate will not exceed the Start rate by 6% over the life of the loan.


Home Equity Line of Credit (HELOC)

HELOC term is for 20 years.  The first 10 years are known as the draw period when the member can draw on the available balance. The minimum payment amount for the draw period is interest only.  The second 10 year period the payment amount is the amount required to have the loan paid down to zero by the end of the loan term. The interest rate is variable based on an index which is Wall Street Journal Prime Rate.  The actual rate is the index plus a margin.  The margin is determined by the members credit score.

Term: 10 years   Maximum Amount: $500,000
RatesAPRPoints
5%5%0%
 

Maximum rate is 18%.  Rate can adjust monthly as the Prime Rate published in the Wall Street Journal changes each month.  Minimum credit score to qualify is 580.  Credit Score of 720 or higher qualifies for our best published rate of Prime + .75.  Lower credit scores have higher margins (up to 2.5%) added to the index to calculate the APR. 

Credit Union pays for closing costs for HELOC's up to $100,000.


Equity 20 Year Fixed

2nd lien loan.  Fixed payment for 20 years.  Published rates are for credit scores of 720 or higher.  Maximum loan amount is 80% of property value. See Mortgage Loan Officer for more details.

Term: 20 years   Maximum Amount: $500,000
RatesAPRPoints
5.25%5.25%0%
 

Credit Union covers closing costs for loan amounts up to $100,000.  When Credit Union pays closing costs and members close their loan within three years, Credit Union is reimbursed for closing costs up to $400.00.


Equity 15 Year Fixed

2nd lien loan.  Fixed payment for 15 years.  Published rates are for credit scores of 720 or higher.  Maximum loan amount is 80% of property value. See Mortgage Loan Officer for more details.

Term: 15 years   Maximum Amount: $500,000
RatesAPRPoints
4.75%4.75%0%
 

Credit Union covers closing costs for loan amounts up to $100,000.  When Credit Union pays closing costs and members close their loan within three years, Credit Union is reimbursed for closing costs up to $400.00.


Equity 10 Year Fixed

2nd lien loan.  Fixed payment for terms from 8 to 10 years.  Published rates are for credit scores of 720 or higher.  Maximum loan amount is 80% of property value. See Mortgage Loan Officer for more details.

Term: 10 years   Maximum Amount: $500,000
RatesAPRPoints
4.5%5.5%0%
 

Credit Union covers closing costs for loan amounts up to $100,000.  When Credit Union pays closing costs and members close their loan within three years, Credit Union is reimbursed for closing costs up to $400.00.


Equity 7 Year Fixed

2nd lien loan.  Fixed payment for 7 years or fewer.  Published rates are for credit scores of 720 or higher.  Maximum loan amount is 80% of property value. See Mortgage Loan Officer for more details.

Term: 7 years   Maximum Amount: $500,000
RatesAPRPoints
4%5%0%
 

Credit Union covers closing costs for loan amounts up to $100,000.  When Credit Union pays closing costs and members close their loan within three years, Credit Union is reimbursed for closing costs up to $400.00.



After a complete application has been received, we offer a 60 day rate lock upon request.  Please contact your loan officer to receive a rate lock agreement. New York Tax requires rates to be .25% higher than displayed on this page.