Mini Mortgage

A quick, easy and affordable way to have a low rate mortgage and pick flexible terms that best suit your financial goals. The loan term is shorter than a standard home loan and the amount borrowed is generally lower. This may allow you to take advantage of today's low rates without the extensive closing fees typically required to do so. This is a great opportunity to refinance, make major purchases, pay for education or home improvements or for any purpose you choose.

Mini Mortgage take a small step toward your big plans...

  • Low fixed rate that decreases as the term decreases
  • No appraisal needed*
  • Terms from 1- to 10 years
  • Loan value not to exceed 80% of tax assessed value
  • $10,000 minimum loan amount
  • Less than $375 in closing costs**

*If your loan amount is $250,000 or greater an appraisal is required.
**Closing costs may not exceed $375 assuming an appraisal is not needed and Vermont Federal is able to rely on the tax assessed value.
An example Mini Mortgage Loan repayment schedule for $10,000 over the course of 10 years at an APR of 2.972% would calculate to a monthly payment of $96.34. For the Mini Mortgage loan, risk based pricing applies. 10 year rate with decline of 0.125% with each 1 year decline in term opted for. Minimum loan amount of $10,000. This payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater. If your loan amount is $250,000.00 or greater an appraisal is required. Not available for first mortgages. Must be a member of the Credit Union to obtain a Mortgage loan. All loans subject to credit approval.

NMLS Institutional ID #466013

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