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:

15, 20, 30 Year Fixed Rate Mortgage Loans available on the Secondary Market. Call our Lending Department  at 800-453-3913 for rates and terms.  

20 Year/10 Year Balloon @ 4.50% APR (cap of 1.50%): Loans up to 80% of purchase price or appraised value, whichever is less. Payments amortized for up to 20 years. Rate increase cap of 1.50% upon balloon date / new rate will not exceed 6.49% APR. 

10 Year Fixed Rate Mortgage Loans @ 4.50% APR: Loans up to 80% of purchase price or appraised value, whichever is less. Payments amortized for up to 30 years. In 10 year increments, the renewal balance is subject to re-price at a rate determined by the Board of Directors reflecting current market conditions. 

*7 Year Fixed Mortgage Loans @ 5.75% APR (rebate 13% = 5.00% APR): 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 at a rate determined by the Board of Directors reflecting current market conditions. 

*5 Year ARM Mortgage Loans @ 4.00% APR:  Monthly payments are based on 30 year amortization.  In five (5) year increments, the balance due is subject to re-price with a 1.25% cap at each adjustment. Payments for the next 5 years will be adjusted on the new rate and remaining term.  

*2 Year Adjustable Rate Mortgage Loans @ 3.00% APR : Loans up to 80% of purchase price or appraised value, whichever is less. Fixed for two (2) years. Monthly payments are based on a 30 year amortization. Every two (2 ) years the balance is subject to re-price with a .5% cap at each adjustment (11.00% APR ceiling) based on the 1 year Constant Maturing Treasury +2.75.
(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.

 *1st Mortgage 3 Yr Variable Loan @ 9.00% APR (46% rebate=4.86% APR):  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 made available by the Federal Reserve Board. (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.

 *Home Equity Line of Credit (HELOC): 

                              Loan to Value                 Rate
                              80%                         *4.25% APR (Prime +1)
                              81% - 90%              *5.50% APR (Prime +2.25)
                             91% - 100%            *6.75% APR (Prime +3.50)

The Home Equity Line of Credit (HELOC) is based on the assessed/appraised value of your home (less any existing liens). Line of credit means you have the flexibility to borrow funds as you need, up to your credit limit. As you pay back principal, the funds become available to use again. Interest rate adjusts monthly and is based on the Prime Rate plus margin. 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 1% or 2% of the unpaid balance (whichever is greater) is deducted from your checking account until the loan is paid. 

Construction Loans @ 5.00% APR: 1 year term.

Investment Property/Business Loans @ 5.75% APR: 15 Year Fixed.... Brett Bridge our representative at Centennial Lending will be happy to answer any questions you have and assist you with the lending process.

 *Variable rates and subject to change without notice.