Take Your Rate With You

The Move & Save Mortgage Program (“Program”) is offered by Firefighters First Credit Union and is subject to change or discontinuation at any time without prior notice. Eligibility for the Program is not guaranteed and is contingent upon meeting all applicable underwriting guidelines, loan approval conditions, and specific Program criteria, including but not limited to the timely payoff of an existing mortgage with Firefighters First Credit Union either within 180 days prior to the new loan closing or within 180 days following the new loan closing. All loan applications are subject to credit approval. Additional restrictions may apply. Loan being paid off must have been a first-lien mortgage loan owned and retained by the Credit Union at the time of payoff. This program does not apply to any mortgage loan that was sold, assigned, or otherwise transferred to Fannie Mae, Freddie Mac, or any other third party investor.

The interest rate displayed during the online application or rate inquiry process reflects the standard rate for the 3/1 Adjustable Rate Mortgage (ARM) product and does not include any rate reductions or Program-specific adjustments. If an applicant is determined to be eligible for the Program based on a review of credit qualifications, account history, and documentation provided, and if all underwriting conditions are met, Firefighters First Credit Union may offer an interest rate on the new loan that matches the interest rate of the applicant’s previously paid-off mortgage loan with Firefighters First Credit Union. Rate match consideration is limited to the note rate of the most recently paid-off qualifying loan and is subject to maximum allowable rate adjustments under current lending guidelines. The matched rate is not guaranteed and may be denied based on risk-based pricing, changes in credit profile, updated property or income verification, or other factors as determined by underwriting review.

No delinquencies of 30 days or more on any loans or accounts with Firefighters First Credit Union within the previous 12 months are permitted to qualify for the Program. The initial rate adjustment, if applicable, is provided at no cost under the RateDrop policy. Future rate changes or additional requests may be subject to fees and conditions as outlined in our current RateDrop Policy. If Borrower pays off the “Previous Mortgage” within six (6) months following the closing of the “New Mortgage” loan, and provided Borrower otherwise qualifies under the Credit Union’s then-applicable RateDrop policy, the Credit Union will adjust the interest rate on the New Mortgage to the interest rate in effect on the Previous Mortgage.

If the applicant is determined to be eligible prior to issuance of the Loan Estimate (LE), the rate adjustment will be reflected on the initial LE. If eligibility is confirmed after the initial LE has been issued, a revised LE will be provided in accordance with applicable federal regulations due to a valid changed circumstance. Firefighters First Credit Union complies with all applicable federal and state lending regulations, including the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) as implemented by the TILA-RESPA Integrated Disclosure (TRID) rule.