Nebraska Energy Federal Credit Union offers a wide range of mortgage products. With a variety of financing options available, we can help you purchase a new home or assist you in making desired improvements to your current home.  Our mortgage loan officers are happy to visit with you about current rates and terms.  Stop by or call us today for more information on any of the following loan products:

7 Year Fixed Mortgage Loans: Loans up to 80% of purchase price or appraised value, whichever is less. Payments amortized for up to 30 years. In 7 year increments, the renewal balance is subject to re-price a rate determined by the Board of Directors reflecting current market conditions. New Money Only -Limited funds available for this loan program!

15, 20, 30 Year Fixed Rate Mortgage Loans Available: Call for Rates and terms.

*1st Mortgage 3 Year Variable: Loans up to 80% of purchase price or appraised value, whichever is less. Payments amortized for up to 30 years. Loans are subject to rate adjustment every three years.  The applicable interest rate index governing this loan is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as make available by the Federal Reserve Board. Call our Lending Department to at 800-453-3913 for more details.  

(Example): If this were a 30 year, $50,000 mortgage at 9.00% APR, the initial monthly payment would be $401.98.  If the interest rate increased to 12% APR at the following adjustment interval, the new monthly payment would be $521.09 for a three ARM, resulting from an unpaid principal balance of $49,434.39 amortized over 27 years.

5 Year Fixed Rate Mortgage: Monthly payments are based on 30 year amortization.  In five (5) year increments, the renewal balance due is subject to re-price at a rate determined by the Board of Directors reflecting market conditions at that time.  Payments for the next 5 years will be adjusted on the new rate and remaining term.  

*2 Year Adjustable Rate Mortgage: Loans up to 80% of purchse price or appraised value, whichever is less. Fixed for 2 years. Monthly payments are based on a 30 year amortization. Every 2 years the renewal balance is subject to reprice based on the 1 year Constant Maturing Treasury +2.75 with a 6% like interest cap above the initial rate.

(Example): A 30 year, $50,000 mortgage at 5.075%, the initial monthly payment would be $270.61. If the interest rate increased   to 6.75% at the following adjustment intervals, the new monthly payment would become $326.10 for a two year ARM, resulting from an unpaid principal balance of $48,667.52 amortized over 28 years.

*Secured Line Of Credit (SLOC):  The Secured Line of Credit (SLOC) is based on the assessed/appraised value of your home (less any existing liens). A deed of trust is filed and interest is reported as mortgage interest (please seek the advice of your tax consultant for questions concerning deductibility). Repayment of the loan is easy. On the last day of each month a minimum payment of $25.00 or 2% of the unpaid balance (whichever is greater) is deducted from your checking account until the loan is paid.  

*Variable rates and subject to change without notice.