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Loans - First Mortgages The Lisbon Community Federal Credit Union is committed to becoming our Members' primary financial institution. By providing quality first mortgage loans at competitive rates with reasonable closing costs, we hope our Members will consider us first. The Lisbon Credit Union offers mortgage loans with competitive rates and down payment requirements as low as 5%. Based on Loan-to-value ratios, Private Mortgage Insurance (PMI) is required on all loans with less than a 20% down payment.First mortgage loans can be used to purchase or refinance stick built homes, modular/manufactured or mobile homes on a full foundation. The Credit Union also offers a Five Year Balloon Loan that has a monthly payment based on a 15, 20, 25 or 30 year amortization but becomes due in full after five years. These loans are priced lower than existing 15, 20, 25 or 30 year loans. Balloon loans work well for homeowners who plan on moving or refinancing in the next 5 years, but initially want to keep their monthly payment affordable. Escrows for taxes and insurance are available on all first mortgage programs. For rate and term information on First Mortgages, see First Mortgage Rates. Call one of our Loan Officers at (207) 353-4144 or toll-free at (877) 353-4144 or e-mail us today for more information on these great programs!
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