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Real Estate Loans

 


 

Mortgages  

  • We offer mortgages on 1-4 family homes, COOPs and condos. Whether you’ve buying or refinancing  your home New York University Federal Credit Union has a full range of loans to fit your needs.
  • The same rates apply on the purchase of a new home and on the refinance of an existing mortgage.
  • Min mortgage amount $50,000 and Max mortgage amount is $750,000.

If you interested in fixed rate mortgage products (house or condo) in NY, NJ, CT, NH, PA and VT please call us at 212-995-3166 or email at nyu.fcu@nyu.edu . We do not offer fixed rate mortgages on coop apartments.

We offer FREE Pre-Approvals. Get Pre-approved Before You Shop.  Shop with confidence by knowing what you can afford right from the start. Our pre-approval process lets you know your maximum loan limit.    Call us today at 212.995.3166

Recorded webinar"Which Mortgage Product is Right For You"

The maximum allowable discount points to be paid will be two (2).  The buyup/buydown spread for 1 point  is .125%.   

  *NYU FCU share account is required for all loans.   

 



Home Equity Loans

If you own your home, take advantage of the equity in it with a New York University Federal Credit Union fixed rate equity loan or variable rate home equity line-of-credit.

It’s simple, fast, and convenient.

Home Equity Line of Credit

  • Loan amounts from $50,000 to $250,000
  • Line available up to 75% of appraised value minus balance of first mortgage.
  • Low adjustable rate of Prime Rate for the life of the loan.
  • Easy access during the five-year draw period with a repayment term of 15 years.

Home Equity Loan Fixed Rates

Home Equity Line of Credit - Adjustable Rates

  *Annual Percentage Rate (APR) range: Rates listed are the lowest annual percentage rates available. All loans subject to credit approval.

Home Equity Loan Application 

Restrictions/Guidelines:

The following applies to all Home Equity Option Programs:

  1. Closing Cost - Members responsibility.
  2. Setup Fees - Charged if loan is terminated for any reason within first two years
  3. Primary homes: House, COOP, CONDO  (no rental properties).

The following applies to Variable Rate HELOC:

  1. Maximum Loan Amount - $250,000.
    Maximum Loan to Value (LTV) - 75%
  2. Rate Adjustment Variable - Adjustments made on the 1st of each quarter.
  3. Index - Prime rate.
  4. Life Cap - 16% APR.
  5. Floor - 3.25%
  6. Draw Period - 5 years
  7. Index Source - Highest Prime Rate quoted in the Wall Street Journal on the 25th or next business day of the previous month.

Home Equity Loan

Applications for home Equity Lines of Credit and second mortgages are accepted on a member's primary family home, secondary single family home, coop or condominium.

Maximum Loan Amount - $250,000.
Maximum Loan to Value (LTV) - 75%
Fixed Rate Loan-12%.
Maximum Loan Term-180 months.

Click here to download interactive Mortgage Loan Application.

You will need Adobe Acrobat Reader version 5.0 or later to open this document.  You can download a free version of Adobe Acrobat Reader using the following link: http://www.adobe.com/products/acrobat/

*NYU FCU share account is required for all loans.

 

 

                                                                                   Consumer Loans 


 

New and Used Auto Loans

Get more car for your dollar with an NYUFCU Auto Loan. There are no application fees, no prepayment penalties and flexible terms with one low rate for both new and used vehicles. We can finance 100% of purchase. Borrow up to 5 years on a new and used car with fixed interest rates for the term of the loan.

 The loan application fee is $25. This fee is waived for a refinance car loans.

 

New 2013-2014 Auto Loan Rates                                                                       

New Car Loan Rates

Used Car Loan Rates

 

*    Rates with automated payments. Rates for vehicle loans are subject to  change without notice. 5% of loan amount frozen in members share account. 
      An NYUFCU share account is required for auto loan account.
**  Refinancing not available on existing NYU FCU auto loans. 
 

**NYU FCU share account is required for all loans.  

 


 

Recreational Vehicle Loan Rates

    48-month maximum term. 80% of purchase price.

 

*All rates are annual percentage rates and are accurate as of date of publication. All loans subject to credit approval. Rates and terms are subject to change without notice. Other conditions and terms may apply; ask for details. Contact Member Services Representative at 212-995-3171 and ask for details.

**NYU FCU share account is required for all loans.

 


 

Signature/Personal Loans

 60-month maximum term. Loan amounts: $500 - $10,000. Loan Application Fee -$25

 

*NYU FCU share account is required for all loans. Reference Form


  

Bill Consolidation Loans

Consolidating your debts means to transfer some or all of your debts that are at a higher interest rate into one loan payment that charges you a lower interest rate than the one you are currently paying.

Loan application fee $25 

 

 

 

  • 10% of loan balance is frozen in share account on all unsecured consumer loans.
  • NYU FCU share account is required for all loans.
 


     Vacation Loans Rates   Maximum amount is $3000 Term -12 month  The Loan Application Fee is $25.

VISA Credit Card

Disclaimer

The New York University Federal Credit Union is a federally chartered savings and loan cooperative solely owned and operated by its membership.  Savings accounts are insured by the federal government up to the same amounts as any commercial bank. 

Because New York University is the sponsoring organization of the New York University Federal Credit Union, the NYUFCU’s field of membership is limited to individuals who are connected to New York University (such as students or employees and their immediate families). However, New York University and the NYUFCU are not otherwise affiliated and the NYUFCU acts independently from New York University.

OUR VISA CREDIT CARD WILL SAVE YOU MONEY!

Check your mailbox every day and you’re sure to see… there are thousands of credit cards available from just about every imaginable source. Some offer gimmicks, some offer rebates, some you can hardly understand just what they are offering. Beware-these tricks always come at a cost, and it will probably be right out of your pocket!  Rest assured…you don’t have to learn the hard way- no matter what your needs, a credit union Visa Credit Card will save you money!  In fact, the right credit card can save you hundreds of dollars every year. And, saving money is something everyone can agree on. That’s why our credit card perfect for you. We offer low rates, no hidden fees or charges, and the convenience services that put us ahead of the crowd.

 Any Credit Card Applicants are required to have a membership at NYU Credit Union. To apply please click here.

CREDIT CARD BALANCE TRANSFER FORM

The loan application fee on all Credit Card Applications is $25. This fee is waived for credit card balance transfers. 

Visa Classic Credit Card

Simply fill out and sign the application and Visa Classic Credit Card Account Opening Disclosure and return to the Credit Union with copies of the two most resent paystubs. You can also  

NYUFCU VISA Classic Credit Card features a 11.9% Annual Percentage Rate and no annual fee. Plus, you will enjoy a 25-day grace period on purchases and the convenience of worldwide acceptance.

Please print out Visa Classic and Visa Gold Card Application and Solicitation Disclosure for your records.

Visa Gold Credit Card 

(You will qualify for Visa Gold Credit Card, if your credit score is above 700.) Please fill out Visa Credit Card Application and  Visa Gold Credit Card Account Opening Disclosure, include copies of two most resent paystubs and return to us or fax at 212-995-4582. Please print out for your records Visa Classic and Gold Credit Card and Visa Secured Credit Card Agreement  and for your copy of the agreement please click here. 

The rate on our Visa Gold Credit Card is 6.90% for the first 6 months and 8.9% fixed rate after 6 months introductory rate and no annual fee. Also, you will earn one free mile for every dollar you spend.

Maximum limit on Visa Classic - $10,000

Maximum limit on Gold Credit Cards - $10,000 (temp promotional limit for balance transfers $50,000).

Secured Visa Credit Card

 

You need to sign Pledge of shares agreement, in addition to the Credit Card Agreement. We would us for a collateral pledge of 125% of the line of credit.

Credit Card Repayment Calculator please click here 

Start saving with a NYUFCU VISA Credit Card today!

*NYU FCU share account is required for all loans.

 

 

 

Please contact 1-866-454-3955 for information, recent account activity, payments by phone and reporting your card as lost or stolen

CREDIT CARD BALANCE TRANSFER FORM

The loan application fee on all Credit Card Applications is $25. This fee is waived for credit card balance transfers. 


 

Small Business Loans

What kind of Small Business loan meets your needs? The New York University Federal Credit Union offers a wide range of loan products for entrepreneurs operating retail businesses, restaurants, service and wholesale businesses, and light manufacturers. We also offer loans to small property owners that house 1 to 4 families and commercial spaces.

These loans can be used to:
  • Purchase inventory, supplies or materials
  • Acquire and/or improvement of machinery, equipment or real  estate 
  • Provide working Capital for growing businesses

Small Business Loans **

NYUFCU offers small business loans of up to $250,000*. These loans require 20% collateral (as a deposit in a new business account), and offer interest rates of prime plus 2.25% to prime plus 4%(currently 5.50%-8.25%*), depending on overall qualifications of borrower.
* Subject to change
** Business owners are eligible for small business loans with interest rates ranging from prime plus 1.74% to prime plus 2.74% (4.99%-5.99% presently*) when leaving on deposit a dollar amount of 50% to 100% of the loan proceeds as collateral in their NYUFCU business account.
Rates effective through 5/30/2013
To learn more about these services and securing a loan or line of credit for your small business, please contact Mira Ness at 212-995-3166, or mira.ness@nyu.edu .

Share Secured

Have a problem keeping the money you saved in an account, while new expenses keep popping up? Why not take a loan against your share account balance at the credit union? We will lend you 95% of your collected share balance for 3% over our current dividend rate (.050%). Your can choose a 36 month payback for one flat rate, or a payback of up to 144 months with a quarterly review.

Visit NYUFCU today and complete a short application, or apply online. The loan application fee is $25.

Credit Life and Disability Insurance: We offer Credit Life and Disability Insurance for our consumer loan products. This insurance is optional and the cost of the premium is added to your loan payment.

Credit Builder Loan- Rates

This loan is to help you to rebuild your credit report and establish emergency savings. The maximum loan amount is $1000, Min - $500. Max term is 12 months. For example, If you qualify for $1000 loan, you can get $100 available to you immediately while $900 will be placed in savings account. As payments are made, you would gradually gain access to the savings account.

 

 

 

 

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