Sep12

BSA Officer Training

This program is designed to provide BSA officers, compliance officers, and CEOs/managers with important information, updates, and best practices related to the Bank Secrecy Act and other anti-money laundering rules and regulations.
Oct13

Solutions Trade Show

MAXX is where credit unions come together to innovate, celebrate, and impact the future of the Credit Union Movement.
Oct13

MAXX

MAXX is where credit unions come together to innovate, celebrate, and impact the future of the Credit Union Movement.
Oct29

Collectors Council: Sess. Three

This Council provides an opportunity to share challenges and successes with collection and recovery peers, ask questions and learn from each other, and gain insights from outside legal and industry experts.

Brittanie Bonanzino

AVP, Communications

Washington

Alyse Headshot

Alyse Knudsen

Manager, Communications

Oregon

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Tucson Federal Credit Union Launches Innovative Fixed4Five Mortgage Loan

Posted by on September 3, 2024

Tucson Federal Credit Union (TFCU) announced the launch of its newest mortgage product, the Fixed4Five Mortgage Loan, an innovative offering that combines the stability of a fixed-rate mortgage with the flexibility of an adjustable-rate mortgage (ARM), providing homebuyers with an easy way to meet loan needs.

“We designed the Fixed4Five Mortgage Loan to give our local home buyers the best of both worlds – the security of a fixed rate for those crucial first five years and then the opportunity to adapt afterward based on changing market conditions and personal financial goals,” explained TFCU CEO Matthew Gaspari.

The Fixed4Five Mortgage Loan features:

  • An initial five-year fixed-rate period, offering stability and predictability for new homeowners
  • Subsequent rate adjustments every five years not to exceed 2%, even allowing borrowers to potentially benefit from favorable market conditions
  • A lifetime cap that limits rate increases to no more than 5.00% over the loan’s lifetime, providing long-term peace of mind
  • Availability for 30-year mortgage terms, providing lower monthly payments

The Fixed4Five Mortgage Loan is particularly advantageous for homebuyers who:

  • Anticipate changes in their financial situation over time
  • Want to benefit from potentially lower initial rates compared to traditional 30-year fixed mortgages
  • Desire the flexibility to refinance or sell their home before or after the initial fixed-rate period

This new product underscores TFCU’s commitment to innovation in the mortgage industry and its dedication to providing customers with diverse, tailored financial solutions. TFCU continues to offer all the advantages of a nationwide bank but with the special local service only a local credit union can give.

 

*APR: Annual Percentage Rate for 1st position mortgage. Actual rate determined by LTV, credit score, and term. Rate is fixed for 5-years and then varies with the market based on a margin plus the Secured Overnight Financing Rate (SOFR). Rates will adjust every 5 years after initial adjustment and will not increase by more than 5.00% over the life of the loan. Loans subject to approval. NMLS ID 462532. Equal Housing Lender.

Posted in Arizona, Regional Member News.