Home Loans

Every home needs a foundation. Alabama Credit Union should be yours. 

Maybe you're moving up. Maybe your family's growing faster than your available space. Or maybe it's time to look for something just for the two of you. No matter the reason, your first step into your new home begins at Alabama Credit Union.

Mortgage Loans

Lower rates, more flexibility.

When you're ready to buy or refinance your home, Alabama Credit Union is ready with up to 90% financing, and a variety of Fixed-Rate and consumer friendly Adjustable Rate Mortgages. 

Our 'in-house' Mortgage Loan Program features:

  • Low closing costs.
  • Less documentation required for a credit decision (usually requires two years' proof of income, copy of sales contract or deed).
  • Fixed (up to 15 years) and variable-rate (up to 30 years) loan products.
  • Financing up to 90%
  • Competitive rates.
  • No points on Adjustable Rate Mortgages.
  • Low origination fees.
  • Rate protection locks at no charge to you. If your loan is being processed and rates increase, we'll honor the rate you were disclosed. If our same-product rate falls while your loan is being processed you get the lower rate!
  • Loans for home purchases, home construction and home refinances, vacant lots and vacant land.
  • Rates updated daily

Other Mortgage products include:

  • The most competitive rates.
  • Closing costs comparable to those charged by national mortgage lenders
  • Fixed-rate (up to 30 years), variable-rate, first-time buyer and other special products.
  • Higher loan-to-value limits.
  • Escrow for property taxes and hazard insurance.
  • Loans usually closed through a corporation that exclusively serves credit unions, and has never sold a member's loan.
  • Loans for purchases, construction and refinances.
  • Rates updated daily

Home Equity Line of Credit

Because there's always room for home improvement.

There's no loan more adaptable than our Home Equity Line of Credit (HELOC). You can borrow up to 90% of the value of your home (less any outstanding mortgage); you can repay as quickly as you wish or make only the minimum monthly payment; you may be bale to use the interest you pay as a tax deductions (consult your tax advisor); and you can use the loan for any purpose you wish.

Alabama Credit Union makes home equity line of credit even easier. Here, there's no annual fee. Approvals usually come within 24 hours. Once approved, your line of credit is good for up to 15 years and is instantly accessible to you through our online ACUiBranch®. When you borrow at least $10,000 and agree to owe us at least $5,000 after the first 24 months, Alabama Credit Union will pay closing costs. 

Auto & Home Insurance through Liberty Mutual: 888.888.0375

(There rates in effect on June 25, 2013)

ACU Home Loan Terms and Conditions

Mortgage Loan Originators and National Mortgage Licensing System Corresponding Unique Identifiers 

The above rates are for reference only and are subject to change for better or worse, depending on market condition. Real estate loan applications not accepted via e-mail; please download a printed application, complete and forward to Alabama Credit Union’s main office at 220 Paul Bryant Drive East, Tuscaloosa, AL 35401.

*HOME EQUITY LINE OF CREDIT. Rate: APR may vary in relation to an index. Rate will change on October 1, 2013, based on the prior quarter's average 13-Week Treasury Bill (for quarter ending September 30, 2013, 0.080% APR), plus a margin of 3.4 percentage points for 80% value loans, or 4.4 percentage points for 90% value loans. Minimum payment: 1.25% of loan advance for 80% value loans, or 1.5% of loan advance for 90% value loans. If a balance remains on the maturity date, a balloon payment will result. Borrower agrees to repay closing costs paid by Alabama Credit Union if loan balance falls below $5,000 within 24 months after opening. Loans made on primary residence only. Consult a tax advisor regarding deductibility of interest. Offer applies to new Home Equity Line of Credit loans only; existing loans excluded.