MECE Credit Union
PO Box 1586
Jefferson City, MO 65102
(573)634-2595
Fax - (573)635-9781
mececu@mececu.com
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| Missouri Electric Cooperatives Employees' Credit
Union has built a reputation for providing members with low-cost
loans with flexible terms. Credit Union loans differ from loans
at many other institutions. There are no hidden restrictions
or costs. You pay interest only for the number of days you
use the money. For a copy of our loan disclosures please contact the Credit Union at 573-634-2595. |
FIXED RATE HOME LOANS -
We also offer a fixed rate mortgage program for which we could loan up to 95%
of the purchase price.
We receive current competitive rates on a daily basis. Just call today and check
out the current fixed rate. This program offers up to a 30 year term and closing
costs are comparably low. |
VARIABLE RATE HOME LOANS -
We offer an excellent variable rate home loan program which allows you to borrow
80% of the appraised value. There is a minimum of $10,000.00.
Your loan can be amortized at a term not to exceed 30 years and can be set up
on payroll deduction.
Your variable rate has a 1% annual cap with a 5% cap for the life of the loan
that can go either up or down based on the 26 week T-Bill.
The loan will be secured by a Deed of Trust and must be a single, owner occupied
permanent dwelling of the applicant in the State of Missouri. |
HOME EQUITY LOANS-
A home equity loan allows you to borrow up to 90% of your home's equity
(minus your first mortgage balance). This program offers convenient access
to funds for borrowing needs such as home improvement, college tuition, and
debt consolidation. Interest for this loan may be tax deductible. Closing
costs (letter report, recording fee, and flood map) to the member is an
average of $250.00 and may be paid from the loan proceeds. If the initial
advance is at least $10,000.00, the Credit Union will pay these costs. To
determine the value of the property, we may work off of an existing
appraisal not to exceed two years old. If a new appraisal or home valuation
is needed, this would be an additional expense to the borrower regardless of
the loan amount. |
CONSTRUCTION LOANS -
Our construction lending program allows our members the opportunity to build the home of their dreams. We are able to lend up to 80% of the proposed home’s subject to completion appraised value, and offer competitive rates. For a simple and less stressful way to handle your home’s construction, call or e-mail the MECECU loan department for more details. |
LAND LOANS -
A land loan would allow you to borrow up to 90% of the appraised value of the land. You may use this program for purchase, cash out and/or refinance. Closing costs are minimal and the interest rate is competitive. For more information please contact a MECECU loan officer at 573-634-2595. |
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