Pole Barn Home
Pole Barn Homes are becoming a popular avenue for homebuyers but not many financial institutions are willing to finance them. ETFCU is excited to announce a program to help with purchases, refinances, and construction loans for residential Pole Barn Homes!*
- Available for purchase, no cash-out refinance, and construction loans
- Minimum 20% down payment or equity is required
- Fixed rate terms of 10, 15, and 20 years available
- Adjustable-rate mortgage (ARM) options of 3/6, 5/6, 7/6, and 10/6 available
- Minimum credit score of 680
- At least 50% of the home must be livable space and cannot have commercial space
- Must have foundation footers verified through inspection
- Receive up to a $500 gift card at closing*
Contact us at (812) 469-9928 or 1-800-800-9271 to learn if this program is right for you.*Certain restrictions apply. Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 Gift Card. Not valid in combination with any other offer.
- Prior two years addresses and dates of residence.
- Social Security number or tax ID.
- Driver’s license or state issued identification card.
- Prior two years employment information including employer contact and dates of employment.
- Most recent W2 and pay stub for all income sources.
- Two years federal tax returns, including tax applicable schedules if you are self-employed, have rental income, farm income or additional non-W2 reported income.
- Alimony, child support or separate maintenance documentation if you wish to have it considered as basis for repaying this obligation.
- Additional information may be required such as Divorce decree (if applicable) and/or proof of extra income such as rental income, dividends, Social Security, retirement, disability, pension, or welfare (supporting documentation is required).
- Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.
- Most recent mortgage statement (if applicable).
- Most recent property tax bill.
- Most recent hazard insurance declaration page.
- Most recent flood insurance declaration page (if applicable).
Rates accurate as of May 23, 2022 and are subject to change throughout the day. All mortgage rates include Extra Credit Discount.
Loans are subject to credit review and approval. Closing costs may apply. ETFCU mortgage lending product availability may vary based on property location. A sample principal and interest payment on a (7)-year $500,000 adjustable-rate loan amount with a 3.500% interest rate (3.575% APR) is $6,719.93. Taxes and insurance are not included; therefore, the actual payment obligation will be greater. Actual interest rate may vary based on credit history. An ARM is an adjustable-rate mortgage that has an initial interest rate for the first three, five, seven or ten years and an adjustment interval of 6 months thereafter. The 7/6 ARM product is a 30-year loan where the initial interest rate is fixed for the first seven years (84 payments). After the initial seven year period, your interest rate can increase or decrease semiannually based on the Secured Overnight Financing Rate (SOFR) index as published on the New York Federal Reserve website, plus our margin, which varies among ETFCU adjustable-rate mortgage products. Any change may significantly impact your monthly payment. Additional rates and programs available. Visit us online for current rate information. The rate on 80% adjustable-rate home equity line of credit is the prime rate as published on the first business day of each month in the Wall Street Journal. Our 95% adjustable-rate home equity line of credit has the same benefits and uses the same index with a rate of 1.5% above the prime rate. There is a maximum cap of 18% APR. Offer available for new primary mortgage loans and mortgage loans already established at ETFCU when refinanced with at least $10,000 new money. These offers are available on conventional conforming financing of purchases for primary residences only. Contact an ETFCU mortgage loan officer for details.
*Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 gift card. Not valid in combination with any other offer. Product offerings may vary by state or region.