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LOANS

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New and Used Autos, Trucks, Boats, RV's and Motorcycles | Purchase Loans | First Mortgage | Second Mortgage | Other Home Loans | Home Improvement | Home Owner Unsecured | Home Equity Simplified (No Loan to Value) | Home Equity (90%) | Home Equity Special (100%)

Second Mortgage

Members use the equity in their home to purchase cars, consolidate, and purchase furniture and other needs. The equity is the appraised value times 80% minus your first mortgage. If your equity is less than 20% see "Other Home Loans."

The steps to process the loans are as follows:
  1. Call Cincinnati Postal Employees Credit Union to discuss the loan and take your application.
  2. We'll send you a Good Faith Estimate (to be signed and returned) and the Consumer handbook.
  3. A title search of the property, flood search and a mortgage will be prepared. An appraiser will contact you to set up your appraisal.
  4. When the documents listed in step three are returned to Cincinnati Postal Employees Credit Union, if everything is in order, Cincinnati Postal Employees Credit Union will set up a closing date.
  5. At closing we will need a copy of your insurance policy, a recent paycheck stub and all parties involved in the mortgage.
(Click here for rates on Second Mortgage Loans.)



By member choice accounts are insured by ASI for up to $250,000. This institution is not federally insured, and if the institution fails, the Federal Government does not guarantee that depositors will get back their money. MEMBERS ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY.
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