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.
*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