Mortgages -  Loudoun CU partners with PHH to bring easy applications, great rates and online resources you can depend on.  

The Loudoun Credit Union has partnered with PHH Mortgage Services, who offers you the strongest mortgage guarantees anywhere. Available 6 days a week. Call 1-877-256-1358.   Or you are now able to apply for a mortgage online. 

Home Equity Loans - Home ownership provides alternate means to finance that new car, college tuition, luxury vacation or maybe remodel your home. (Choose between a line of credit or a fixed rate second mortgage.) With a Home Equity Line of Credit you may establish a “secure line-of-credit” up to $50,000 based on the equity in your home. Your credit limit will be determined based on a loan-to-value ratio of 80% and the interest rate is variable and tied to the Wall Street Prime Rate plus 0% that can change semi-annually. Interest paid on home equity loans may be tax deductible (consult your tax advisor).

To estimate your home’s equity use the following calculation:

• Appraised Value of Home
• Multiply by Percentage 80%
• Equals Net Value of Home
• Minus First Mortgage Balance
• Equals Your Potential Credit Line
  
  *Closing costs subject to reimbursement if loan is satisfied/paid in less than 24 months. 

Second Mortgage - Our most popular equity loan is the fixed rate Second Mortgage. The second mortgage allows you to borrow for a one time big expense. The amount financed is based on a loan-to-value ratio of 80% with a fixed interest rate. Interest paid on second mortgages may be tax deductible (consult your tax advisor).

To estimate your home’s equity use the following calculation:

• Appraised Value of Home
• Multiply by 80% 
• Equals the Percentage of Appraised Value
• Less Balance owed on First Mortgage
• Maximum you can Borrow
  
  Closing costs subject to reimbursement if loan is satisfied/paid in less than 24 months