First Mortgage Loans

Home financing made easy. That’s the Banner Federal Credit Union way with multiple mortgage services to help save you time and money. When you find that home, use Hughes Mortgage to arrange the financing. Let our brokers shop the market for the best rates and financing terms.

Let Hughes Mortgage bring you complete mortgage financing services, including: market competitive interest rates with the ability to lock rates and buy down points. Use the rebate to reduce sales commission, lower your closing cost, lower your points, discount the sales price or receive “money back” at closing.

Hughes Mortgage is locally owned and operated in Tempe Arizona. They offer professional, friendly, personalized service to solve all your financing needs. No matter if you want to refinance your home, to see if you qualify for a home mortgage or just find out if you can get a lower interest rate, Hughes Mortgage takes the mystery out of getting it done. Our members love their personalized service and follow - through.

Our members have found our mortgage brokers, and Hughes Mortgage, make the home mortgage process easy and stress free. They can answer your home financing questions and make the complicated understandable. They will save you money, too.

Second Mortgage and Home Equity Programs
Let Your Home’s Cash Value Work For You
A second mortgage or home equity loan can save you hundreds of dollars a year in interest because the rate is often much lower than credit cards, personal loans, auto loans and other forms of borrowing. The interest you pay is tax deductible in most cases (always check with your tax advisor). It’s the only form of consumer credit with this tax benefit. You can borrow as little as $5,000 and up, if you qualify. Unlike auto loans, student loans and many other loan options, you can use the money any way you choose. Let us show you how simple it can be. Call Banner Federal Credit Union at 602-254-5291 extension 202, today.

Equity Loans are based on the equity in your home. Equity is the difference between the current value of your home and your existing mortgage balance. So if your home is valued at $300,000 and the mortgage balance is $200,000, your equity is $100,000.

To determine your homes equity value use Value Check Inc. our web based home evaluation program. There’s no charge for this service — just click on the Value Check Inc. hyperlink and enter your address starting with your house number. Subtract your first mortgage loan balance from Value Check’s estimate to obtain your potential loan equity. How much can I afford to borrow? How much can I afford? To determine the monthly payment on your loan use our loan interest calculator. Use our Loan Interest FAQ's to answer some of your mortgage loan questions or just call the credit union.

At Banner FCU, you can borrow against your equity and use the cash on any number of types of expenses. You can use your equity to:

· Borrow to pay off nagging credit card bills, leaving a payment at a lower interest
· Borrow for a major purchase like a room addition or swimming pool
· Education expenses, tuition, or a special vacation

The finance charges on the home equity loan will likely be tax deductible;
consult your tax advisor for details.