When you think of getting a real estate loan, you probably think of a long, drawn out and expensive process. At Great Meadow, we make it easy with no closing costs* and no hoops to jump through. Many members use their home equity for home improvements or additions, debt consolidation or tuition. Keep in mind that the interest you pay on a home equity loan is often tax deductible (please consult your tax professional for details).
NEW! Many mobile or modular home owners have used a home equity loan to refinance their existing loan. The average interest rate for modular and mobile homes is 11%. You can save big by refinancing that loan at Great Meadow, allowing you to lower your payment and save thousands of dollars in interest.
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There may be other documents we’ll need, but we promise to promptly communicate with you and make the process as easy as possible.
*GMFCU will pay up $750 of your closing costs, which will typically cover the entire amount. In the case that closing costs go beyond $750, the member will be responsible for any amount over $750.
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