Appointments
Whether you’re an early bird or a night owl, we provide business lending on your schedule. Our online loan portal reduces the application process timeline by 23 hours or more – saving you precious time to focus on running your company.
Check the background of this firm or your financial professional on FINRA's BrokerCheck.
Since no two paths are alike, there is no cookie-cutter solution to investments and retirement planning. At Spectra Investment Services, we believe your investment and retirement plans should be as unique as the path you took to get here.
Enjoy a locked-in rate and payments that won’t change with market conditions.
Big dreams need a big mortgage.
Make buying your first home an unforgettable experience with NO MONEY DOWN!
With a 3/1 ARM from Spectra, your initial interest rate is typically lower than most fixed-rate loans and will remain the same for three years and adjust yearly based on market conditions.
We understand that homeownership is a dream for many members of our community. That's why we're thrilled to offer a home loan that can make it a reality for those with ITINs.
If you're curious about how an ITIN home loan can help you achieve your dream of owning a home, you can reach us at 301-839-8429 or complete the form below.
We offer a variety of government mortgages to help make home ownership a reality throughout our communities. With competitive options and financial assistance programs available, we’re making homes more affordable for you!
If you're curious about how a government mortgage can help you achieve your dream of owning a home, you can reach us at 301-839-8429 or complete the form below.
Horace Daniel ChFEBC, CRPC
conferred by College for Financial Planning
LPL Financial Advisor
(301) 839-8826
Madea Badio
Program Coordinator
mbadio@spectracu.com
(301) 749-4806
*APR =Annual Percentage Rate
Spectra reserves the right to change rates at any time without further notice.
CONVENTIONAL MORTGAGES:
Not all borrowers will qualify for the lowest rates. Your rate will be determined at the time of your application and will be based on qualifications and credit history. Advertised rates/points apply to Loan to Value (LTV) of ≤ 60% and credit scores ≥ 740. Additional fees may be charged based on loan purpose, property type, and credit history. All mortgage loans are secured by your real property; property insurance sufficient to cover the balance of the loan is required during the life of the loan. Cash out refinance limitations apply, contact the Credit Union for specific details.
Maximum LTV for jumbo loans is 90%. All Jumbo loan rates with LTVs exceeding 80% will increase by 25 basis points (0.25%).
LTV maximums includes outstanding balances on home equity loans.
Any first mortgage with an LTV exceeding 80% will be required to maintain Private Mortgage Insurance until the loan balance is less than 80% LTV.
Payment estimates include only principal and interest, and they do not reflect items such as taxes or insurance.
Conventional Mortgage 30 Year Term – Sample payment is $66.56 per $10,000 financed.
Conventional Mortgage 20 Year Term - Sample payment is $74.58 per $10,000 financed.
Conventional Mortgage 15 Year Term – Sample payment is $85.76 per $10,000 financed.
Conventional Mortgage 10 Year Term – Sample payment is $111.66 per $10,000 financed.
FIRST TIME HOME BUYER PROGRAM:
Minimum credit score requirement is 700 and maximum LTV is 100%. Maximum loan amount is $766,550. Borrower must pay 1% toward closing costs. Gift funds are permitted to meet minimum borrower contribution.
Payment estimates include only principal and interest, and they do not reflect items such as taxes or insurance
Sample payment is $69.96 per $10,000 financed.
SECOND/VACATION HOMES:
Rate is increased by .125%. Maximum LTV is 90%. Property must not be used as an investment/rental property. Points listed above apply to applicants with credit scores greater than 739 and LTV ratios of up to 75% (for purchases) or 60% (for certain cash-out refinances). Members not meeting these requirements may be subject to increased loan points.
INVESTMENT PROPERTY:
The rate is increased by .5%. Maximum LTV is 80%. Points listed above apply to applicants with credit scores greater than 739 and LTV ratios of up to 75% (for purchases) or 60% (for certain cash-out refinances). Members not meeting these requirements may be subject to increased loan points.
ADJUSTABLE-RATE MORTGAGES including ITIN:
1Adjustable-Rate Mortgages are variable, and your Annual Percentage Rate (APR) may increase after the original fixed-rate period. The First Adjusted Payments displayed are based on the current Constant Maturity Treasury (CMT) index, plus the margin (fully indexed rate) as of the stated effective date rounded to the nearest 1/8th of one percent. All loans are subject to credit approval. Spectra Federal Credit Union reserves the right to end this product at any time without further notice. Membership eligibility requirements must be met
ARM 3/1 Year Term – Sample payment is $55.24 per $10,000 financed.
ARM 10/1 Year Term – Sample payment is $66.56 per $10,000 financed.
GOVERNMENT MORTGAGES:
Not all borrowers will qualify for the lowest rates. Your rate will be determined at the time of your application and will be based on qualifications and credit history. Additional fees may be charged based on loan purpose, property type, and credit history. All mortgage loans are secured by your real property; property insurance sufficient to cover the balance of the loan is required during the life of the loan. Spectra reserves the right to change rates at any time without further notice. Contact the Credit Union for specific details.
