Mortgages

Mortgage Loans

First and second mortgages are available for qualified applicants.

  • Loan Maximum: up to 85% loan to value with no PMI for credit scores 680 or higher to qualify.
  • Loan Maximum: up to 80% loan to value with no PMI for credit scores 600 to 679 to qualify.
  • Loan Maximum: up to 75% loan to value for Non-Owner Occupied with no PMI. Escrow required.
  • Maximum Term: Repayment terms up to 360 months. (30 years)
  • CFCU Fixed Interest Rate: Based on risk based lending
  • An Escrow account may be required to pay real estate taxes and homeowner's insurance. User fees and water may also be included.
  • Application/Document fee apply – see rate schedule
  • Owners Choice Funding Mortgage Rates

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Home Equity Loans

The easiest way for members to use the equity in their homes for whatever needs may arise.

  • Loan Maximum: up to 85% loan to value for credit scores 680 or higher
  • Loan Maximum: up to 80% loan to value for credit scores 600 to 679
  • Maximum Term: Repayment terms up to 120 months. (10 years)
  • Fixed Interest Rate: Based on risk based lending. An Escrow account may be required to pay property taxes and home-owner's insurance. User fees and water may also be included.
  • Application/Document fee apply – see rate schedule

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Home Improvement Loans

A Home Improvement Loan is based on a written estimate or contract of the work to be performed on a specific property. Acceptable secured collateral mortgage is determined by the risk factor within the guidelines of the Credit Union.

  • Loan Maximum: Based on the improvements of the property not to exceed $50,000.00
  • Maximum Term: Repayment terms up to 120 months. (10 years)
  • Fixed Interest Rate: Based on risk based lending

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Mobile Home Loans

Mobile Homes Loans are for permanent locations and are generally a person’s residence or second home.

  • Loan Maximum: 100% of Mobile Home purchase price including sales tax and/or extended warranty up to $125,000.00
  • Maximum Term: Repayment terms up to 180 months. (15 years) for non-primary residence.
  • Maximum Term: Repayment terms up to 240 months. (20 years) for primary residence.
  • Fixed Interest Rate: Based on risk based lending 

Locations & Customer Service

Elma Location

Address: 1751 Transit Road, Elma, New York 14059
Phone: [716] 771 3434
Fax: [716] 771 3435

Hours of Operation

Monday - Wednesday: 9:00am - 4:30pm
Thursday: 9:00am - 5:00pm
Friday: 9:00am - 5:30pm
Saturday: 9:00am - 1:00pm
(Closed Holiday Weekends)

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Buffalo Location

Address: 927 Grant Street, Buffalo, New York 14207
Phone: [716] 873 1174
Fax: [716] 873 1256

Hours of Operation

Monday - Thursday: 9:00am - 4:30pm
Friday: 9:00am - 5:30pm

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