Collateral Mortgage

Buying a Home or Land for a future Home can be one of the largest and most pleasurable purchases that a member can make in their lifetime.  St. Jules Credit Union offers Collateral Mortgage Loans to its membership.    

Collateral Mortgage Loans Features:

*NOTE: Other financial institutions may charge a 1.00% to 2.00% Origination Fee. 

Example of Savings on Closing Cost without the Origination Fee:  On a home purchase of $200,000.00 with the fee at 1.00%, the savings amount to $2,000.00.

Collateral Mortgage Loans: St. Jules Credit Union may make Residential Real Estate Loans to members on a one to four–family dwelling as long as it is or will be the Primary Residence of the member-borrower and the loan shall be secured by a lien on such dwelling.  St. Jules Credit Union may make Vacant Land Loans to members as long as it will be used Only for Personal Use.

*NOTE: The financing of Property located outside of the State of Louisiana will require Board Approval.

Loan Approval: All loans are subject to credit approval and are based on current policies and procedures.

Loan Officer: Cathy St Aubin

 

Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act