Allegacy Loan Disclosure

Equity Loan Seasonal Property

Applicant must be eligible for membership in Allegacy FCU.
The loan application review is subject to:
- Verification of credit and income for all borrowers.
- Verification of the property value.
- Determination of the applicant's creditworthiness.
- The property meeting Allegacy's collateral guidelines. Singlewide mobile homes and doublewide mobile homes manufactured before June 1976 are not within our acceptable guidelines.
Applicants will be responsible for any combined fees in excess of $500.00.
The interest rate is subject to determination of the applicant's creditworthiness.
The loan request may be subject to a title examination.
Borrowers must maintain a sufficient level of hazard insurance protection to cover the new loan amount plus the first mortgage balance.
Subject property must be located in CA, CT, DC, DE, FL, GA, IL, IN, MD, NC, NJ, NY, PA, SC, TX, VA or WV. Loans are subject to the legal requirements of their states.
Allegacy must assume first or second mortgage position.
Additional documentation may be required.
Property must be a beach, mountain or lake property (or similar) from which no rental or investment income is derived.
Final rate to be set by branch.