If the balance falls below $50,000 during the first 18 months, the introductory rate reverts to Prime Rate plus a margin. Minimum draw at funding and a minimum balance of $50,000 must be kept for at least 18 months. Closing costs must be paid back if the line is closed within the first 3 years, including internal refinances. ²No closing cost option requires a minimum draw of $50,000 at funding. Stated rates are based on credit worthiness and other criteria. Terms, Rates, and Conditions subject to change without notice. The following are the current registered MLOs at Nassau Financial and their unique identifier #: Home Lending ExpertsġAPR = Annual Percentage Rate.
The SAFE Act requires any credit union employee who acts as a residential 'mortgage loan originator' to register with the Nationwide Mortgage Licensing System (NLMS) or Registry, to use the Registry's unique identifier as required, and maintain this registration. It is the policy of Nassau Financial Federal Credit Union to comply with the requirements of the Secure & Fair Enforcement of Mortgage Licensing (SAFE) Act and the statute's implementing regulations.