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LGFCULending ServicesHome, auto and personal loansto fit your needs.
With competitive loan rates, flexible termsand a simple loan request process, LGFCUhelps members meet their financial goals.For details on our additional lendingproducts, visit lgfcu.org.Personal Loan4 Open-ended program saves paperwork andtime and enables convenient, subsequent loans.4 Fixed and variable rate products available.4 Get the lowest rate possible when you enroll inpayroll deduction or funds transfer.Auto Loans4 Fixed rate for maximum term of 120 months fornew cars and 72 months for used cars.4 Maximum loan amount may be 100 percent ofMSRP for new cars and NADA for used cars.4 An additional 10 percent is available to covertaxes, tags, extended warranties, etc.4 No penalty for early payoff.4 Continuous collision and comprehensiveinsurance required on the vehicle for theloan’s duration.
4 Complimentary New Car Buying Serviceresearches and locates a specified car,negotiates the costs at a dealership anddelivers the vehicle to the LGFCU member.Loans on Share Accounts4 Fixed and variable rates with varying terms.4 Loans may be secured by funds on depositin an LGFCU Share Account or LGFCU ShareTerm Certificate.Salary Advance Loan (SALO)4 Inexpensive loan option to generateemergency cash needs.4 Loans are limited to a maximum of 500.4 Five to seven percent of the loan advancewill be deposited into a Salary AdvanceCash Account that belongs to you, and willearn dividends; however, your access to theaccount will be restricted.4 You are required to have direct deposit withthe Credit Union to be eligible.Visa Credit Card4 LGFCU’s Visa Credit Card can be usedfor almost any purpose. Visa is widelyrecognized and is accepted wherever theVisa logo is displayed.4 Competitive, variable interest rate.
4 No annual or over-the-limit fees, and nofinance charges if the statement balance ispaid in full each month.4 LGFCU Visa can provide overdraft protectionon an LGFCU Checking Account.4 ATM, 24-Hour Voice Response and MemberConnect access.Fixed-Rate Mortgages4 Fixed principal and interest payment for thelife of the loan.4 PMI* not required.4 Initial rates can change daily—call 888.732.8562†or visit a local branch for current rate(s).4 Financing up to 100 percent of purchase andno cash-out refinance‡.4 Property must be located in NC, SC, VA, GAand TN.Adjustable Rate Mortgage (ARM)4 Financing up to 100 percent of purchase andno cash out refinance may be available‡.4 PMI* not required.4 Maximum rate adjustment of two percent everyfive years with a six percent life-of-loan cap.4 Property must be located in NC, SC, VA, GAand TN.* PMI Private Mortgage Insurance† Calls may be recorded for quality assurance.‡ Maximum loan-to-value varies depending on the property type.
First-Time Homebuyer’s Mortgage4 Financing up to 100 percent of the purchaseprice may be available.4 Five-year adjustable rate mortgage (ARM).4 Additional incentives for first time homebuyers.Second homes and rental properties4 Financing for up to 90 percent of the appraisedproperty value of second homes; financingfor up to 80 percent of the appraised propertyvalue of rental property ‡.4 Five-year ARM financing option available forsecond/vacation homes and rental homeslocated in NC, SC, VA, GA and TN.4 Maximum term of 15 years.Manufactured homes4 Modular, manufactured or mobilehomes eligible.4 Must be primary residence and locatedon property owned by the borrower .4 Must be located in NC, SC, VA, GA or TN. H ome must be on permanent foundation with tongue and wheelsremoved, have a sloping roof, must be listed as real property withthe county tax office and its title must be destroyed by the Divisionof Motor Vehicles. Home must also have been manufactured on orafter June 15, 1976.
Construction Loan4 One closing conducted.4 Requires turn-key contract withlicensed contractor.*4 The home must be the borrower’s primaryresidence or secondary/vacation homelocated in NC, SC, VA, GA and TN.4 Not available for rental property.4 The construction phase cannot exceedsix months.Loan processing feesThe initial interest rate for our Adjustable RateMortgage loans is set by the Board of Directorsand is subject to change daily. Call 888.732.8562†or visit lgfcu.org for current rate(s).Members may incur costs or fees in thefollowing areas in the mortgage loan process:4 Origination fee4 Attorney fees4 Appraisal fees4 Recording fees4 Title insurance4 Survey (typically not required)4 Pest inspection (typically not required)* To qualify for construction loan, the home must be built by a licensedgeneral contractor. Contractor license verification must be providedby the LGFCU member.† Calls may be recorded for quality assurance.
Mortgage Loan request proceduresMembers can request mortgage loans inperson at their local branch, through theContact Center or through Member Connect.To speed up the process, the followinginformation will be requested:4 Name4 Phone number4 Social Security number4 Date of birth4 Monthly income4 Number of dependents4Loan amount requested4 Loan purposeDuring the mortgage process, additionaldocumentation may be requested such as: 4 E mployment history 4 Income/deposit verification4 Sales contract4 Appraisal4 Flood zone determination
Home Equity Line of Credit(HELOC)4 Open-ended program allows for easeof borrowing.4 Borrow up to 90 percent of the appraised valueof your home, less the amount owed on yourfirst mortgage.4 Competitive, variable interest rate.4 Interest rate discounted by 0.75 percent forLGFCU mortgage holders, or for those withno first mortgage.4 Lower interest rate when enrolled in payrolldeduction or funds transfer.4 Processing fees may be required, with costsrange from 300 to 1,000*.4 The interest you pay may be tax deductible;consult with your tax adviser.4 Available on your primary residence in NC, SC,VA and GA. HELOCs are not offered in TN.* Possible costs include appraisal, attorney fees, flood insurance,recording fee, survey, tax stamps/mortgage tax, title insurance,title search.
HELOC request procedureMembers can apply for home equity loans inperson at their local branch, through the ContactCenter or through Member Connect. To speedup the process, the following information willbe requested:4Name4Phone number4Social Security number4Date of birth4Monthly income4Number of dependents4Loan amount requested4Loan purposeSome additional items that may be requested are:4Copy of recorded deed4First mortgage statement4Appraisal4Proof of Homeowners Insurance4Income verification
Disability and Credit Life Insurance4Available on most personal and vehicle loans.4 Protects you and your family in the event ofdeath or disability.4 Disability insurance available only if taken outin conjunction with life insurance.4 Maximum coverage of 25,000 on life and 42,000 on disability.4 Premiums paid monthly as part of loanpayment—coverage provided until age 70.Federally insured by NCUA
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We are hereWhile LGFCU and SECU are two separate creditunions, we’ve partnered so LGFCU membersenjoy full service at SECU’s more than 250branches and nearly 1,100 CashPoints ATMs.Anytime. Anyplace.Member Connect offers many in-branchservices from the comfort of your home,office, or wherever you are.Learn more at locationstwitter.com/lgfcuCalls may be recorded for quality assurance.REV 06.16
researches and locates a specified car, negotiates the costs at a dealership and delivers the vehicle to the LGFCU member. Loans on Share Accounts 4 Fixed and variable rates with varying terms. 4 Loans may be secured by funds on deposit in an LGFCU Share Account or
