Mortgage - Fort Knox Federal Credit Union

Mortgage Header
Purchase - a new or existing home
    • Borrow up to 100% 1 of the purchase price of the home

Refinance – lower your interest rate or payments on your current loan
    • Borrow up to 100% 1 of the appraised value of the home

Cash Out Refinance – refinance your current loan and take out additional funds for home improvements, consolidation of other debts, etc.
    • Borrow up to 100% 1 of the appraised value of the home

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

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1 Lowest rates based on credit worthiness and subject to credit approval. Not everyone may be approved for 100% financing.
Construction Loan – perfect for custom or production builders
    • One Time Close – Only one closing, prior to beginning construction – avoid the cost of two closings
    • Borrow up to 90% of the Appraised Value – lot equity can be used as down payment
    • Interest Only Payments during the construction phase – helps minimize your costs prior to completion

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

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Investment/Rental Property – Purchase or Refinance
    • Borrow up to 80% of the purchase price (purchase) or appraised value (refinance)
    • Fixed rates up to 30 year terms available

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

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VA and FHA Loan Programs:


VA loans and FHA loans are two types of government-secured mortgage loans. FHA loans are secured through the FHA, or Federal Housing Administration; while VA loans are secured through the VA, or Veterans Administration. Both of these loan programs involve lower costs and lower down payments than traditional mortgages; there helping place more people into homes. (Source: eHow.com)
FHA Program
    • Purchase or Refinance
    • 3.5% Down Payment – can even be gift from family member
    • Seller can pay up to 6% of the purchase price towards your closing costs and prepaids
VA Program
    • Purchase or Refinance
    • 100% Financing Available – subject to Eligibility
    • Seller can pay up to 4% of the purchase price towards your closing costs and prepaids

Easy and Convenient Mortgage Application Process: Apply online or we’ll be glad to discuss your options and take your application with you over the phone.

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Guidelines:

Finance up to 10 acres
Member pays all related closing costs
Terms up to 30 years
Finance up to 85% on raw land

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