Mortgages

FHA, VA o RURAL Mortgage*

• Primary residence loan
• The maximum amount of loan to request will depend on the requirements of the selected mortgage product.
• Refinancing with or without surplus depending on the selected financing product.
• Amortization terms at 15 and 30 years

Conventional Mortgage*

• Conventional Mortgage Products Conforming or Non-conforming
• Mortgage loan for principal residence
• Mortgage loan for a second home for vacation or recreational use for personal or family enjoyment
• Mortgage loan for investment property
• Maximum amount of financing will depend on the selected financing product.
• Amortization terms at 15 and 30 years

Second Mortgage*

• Second mortgage home loan
• We offer second tier enrollment home loans up to a maximum of 80% of the appraised value, including the first mortgage.
• Amortization terms at 15 and 30 years

Land Mortgage Loans *

• Mortgage loan for the purchase or refinancing of Land.
• Maximum of 50% LTV of the sale price or appraisal, whichever is lower.
• Amortization term up to 15 years.

We can provide you with a pre-qualification. Applying for a mortgage loan in Caribe Federal is simple: by calling 787-474-5151 select mortgages or dial any of the extensions 5262 or 5423, writing us directly to the email: mortgage@caribefederal.com or click on the box “Request more information” and complete the corresponding spaces with your contact information and a mortgage professional will be contacting you to assist you.

The processing of a mortgage loan requires various documents and evidences important to be able to handle your application; therefore, the following basic documents will be required:

• Copy of the deed of sale
• Copy of the current Purchase-Sale contract, if applicable
  • Evidence of payment delivered to the seller as a Buy-Sell option.
• Proof of income:
  • Salaried: Stubs of the past 30 days and copy of the W2 of the past
    two years.
  • Self-employed: Copy of the income tax returns of the past two years.
• Provide the cadastre number
• Copy of the Bank Statements of the past two months.
• Present a state-issued photo ID for each applicant.
• Copy of the Social Security Card of each applicant.
• Other documents may be requested during the processing of the loan.

To learn more about our mortgage products, call 787-474-5151 ext. 5262 or 5423.

Fee Schedule

* Certain restrictions apply. Subject to credit approval and other parameters established by the secondary market and CFCU. Your interest rate will be determined based on your credit history and Loan-to-Value.

Calculate your payment

Purchase Price $

Mortgage Term 30 Years 25 Years 20 Years 15 Years 10 Years 5 Years

Down Payment ($)

5%

Annual Taxes ($)

1%

Interest Rate (%)

5%

Want a Copy of the Results?

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421