Mortgages

At ēCO, we love seeing our members reach huge financial milestones; that’s why we have a variety of mortgage options to meet the needs of our members in all stages of life. Whether you are buying your first home or need a line of credit to help you spruce up your current space, we are ready to meet your needs.

First Mortgages

• 5 Year Fixed
• 10 Year Fixed
• 15 Year Fixed
• 30 Year Adjustable Rate Mortgage
  • Fixed for up to 10 Years

Second Mortgages

• Up to 15 Year Fixed

No-Cost Quick Equity Products

• No Cost Home Equity- Fixed
  • Rate- Prime
  • Up to $50,000
  • Up to 90% of Tax Assessment
    Closing cost must be paid by member if loan is paid in full within one year of loan date.
• No Cost Home Equity Line of Credit- Variable
  • Rate- Prime
  • Up to $50,000
  • Minimum Initial Advance- $5,000

  • Up to 90% of Tax Assessment
    Closing cost must be paid by member if loan is paid in full within one year of loan date.

Other Options

• 7 Year Quick Equity
  • 1^st or 2^nd Mortgage
• HELOC
  • Up to a 15 Year Term
• Land Only

First-Time Home Buyers Promotion

• For first-time home buyers*, we offer some special financing perks:
  • Finance 100% of the appraised value of the home
  • Waive $450 Underwriting Fee
  • $100 VISA Gift Card

Other Benefits

• Through June 30, ēCO will finance up to 100% of the appraised value of the home.** The current rate for 100% financing is 3.75% APR.
• You will not be charged PMI (Private Mortgage Insurance).
• ēCO offers local and personal services. We also keep mortgages in-house.

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*Subject to credit approval. Available to first-time home buyers using the 5 year/6-month ARM product.

**Subject to credit approval. Available to borrowers using the 5 year/6-month ARM product.