One of the benefits of choosing JHFCU for your mortgage is that you are dealing with an established, local organization. All loans approved and disbursed by JHFCU are held in the Credit Union portfolio. You do not have to send your payments out of state; your servicing is done here at the Credit Union. JHFCU has retained a local processor to help process the initial application, but after approval, the loan is on the books at JHFCU. We maintain your escrow account and forward payments for taxes and insurance. Unlike many other lenders, your escrow account earns dividends at the same rate as regular Share Savings accounts.
JHFCU has expanded its mortgage program and streamlined the process to provide faster time to settlement. We offer:
Our 15-year mortgage loan is perfect for members who prefer a shorter term, but want something longer than the 10-year option. The 10-year loan has been very popular among members with substantial equity who wish to refinance at a low rate to pay off their remaining balance in a shorter timeframe.
JHFCU can provide financing for the purchase of a primary and secondary residences. We also offers jumbo mortgages for amounts exceeding conventional limits of $250,000.
*Please note JHFCU's Board of Directors has established a limit on the amount of aggregate fixed-rate mortgages outstanding at the Credit Union, based on a percentage of the Credit Union's assets, so the offering of these products may be suspended from time to time. However, our mortgage processor, Financial Security Consultants, can place your mortgage with another lender at the same rate if you should apply during a time when JHFCU is not accepting new mortgages.
We have tried to make the application process as easy as possible. To begin, complete the short prequalification request form and email it to us. You may also print the form and fax, mail, or bring it to a Credit Union branch. Our Mortgage Loan Officer will review your application and forward it to our local processing and underwriting center, Financial Security Consultants, that provides mortgage services for credit unions. A representative from Financial Security Consultants will contact you shortly after you have submitted your prequalification request to set an appointment for you to complete an application, and will request necessary documentation for your loan. Financial Security Consultants will complete the documentation process (including verification of income and accounts), order an appraisal and credit report, and forward the file back to the Credit Union for final review and approval.
The Credit Union will let you know if your loan is approved and will instruct you to arrange settlement with the real estate attorney. The time from application to settlement is approximately 4-6 weeks.
If
JHFCU cannot approve your loan, Financial
Security Consultants can work with you to possibly place your loan
with another lender, saving you the trouble of reapplying with another
institution. If you need to call Financial Security Consultants, the office
can be reached at 410-823-3300 (or 1-800-730-7599 if calling outside the
Baltimore metro area).
Purchasing or selling real estate? Now you can receive professional real estate assistance and cash rebates through the Introducing SMARTMOVE® Program.
The Johns Hopkins Federal Credit Union has teamed up with Introducing SMARTMOVE®, a national real estate affinity program designed specifically for credit unions to give you, our member, the highest quality, professional real estate assistance and CASH REBATES*.
When you register with Introducing SMARTMOVE®, a coordinator will explain the Introducing SMARTMOVE® guidelines in order for you to qualify for a cash rebate - up to $5,000 - whenever you buy or sell real estate. You'll receive a cash rebate for each transaction.
You will also receive high quality professional real estate assistance from specially trained and experienced agents who will help you with your search, and professionally market your current home or investment properties.
This program is available for properties located nationwide and applies to:
Best of all, this program is absolutely free to you as a valued member of JHFCU. To register or for more details, contact Introducing SMARTMOVE® at (800) 645-6560, Monday-Friday, from 9:00am-5:00pm (EST), or via the web at www.smartmove.com.