The specific amount of your closing costs vary by situation. Appraisal fees, title charges, closing fees may all vary from state to state and also from lender to lender. To evaluate your closing fees, we've created three categories of which you should remain aware: 

1. Third party fees
2. Taxes and other unavoidable costs
3. Lender fees 

Third Party Fees

• Appraisal fee
• Credit report fee
• Settlement / closing fee
• Survey fee
• Tax service fee
• Title insurance fee
• Flood certification fees
• Courier / mailing fees  

Mortgages are bought and sold by investors on the Secondary Market. Rates are determined by the amount an investor will spend on your mortgage.

To calculate the cost of refinancing your first mortgage use one of our Financial Calculators or speak with one of our Mortgage Loan Officers for professional assistance. 

A mortgage is a loan to finance the purchase of your home. When you close on a mortgage, your home becomes collateral for the loan. You will be required to sign a legal contract stating that you promise to pay the debt, including interest and other costs, typically over the course of 15 to 30 years.

We offer a wide range of mortgage options to fit your needs and lifestyle:

• First mortgages on primary residential homes, second homes, investment properties, 2-4 unit properties, condominiums, and modular homes
• Fixed rate mortgages with terms from 5 to 30 years
• Adjustable rate mortgages (ARMs)
• Land loans

Yes, there are closing costs associated with a Home Equity Line. For more information and to discuss your options, reach out to one of our Member Service Representatives. 

Unfortunately we do not offer a service to notify you when rates have changed. To keep up-to-date on our changing rates, please keep an eye on our rates page. 

An escrow account is established as a convenient way to manage property taxes and insurance for your home. Sometimes referred to as an "impound account", escrow accounts allow you to make one monthly payment, instead of paying individual bills when they are due. 

A portion of your monthly mortgage payment goes directly to your mortgage (principal and interest) and the remainder is allocated to your escrow account to cover property taxes and insurance. When the individual bills are due, your lender will pay them with funds from your escrow account. 

If your loan is set up with an escrow account, the credit union will obtain the property tax bill from the government. 

If your loan is approved with you paying the taxes yourself, you will need to provide a copy of the paid tax bill annually to us. At the following address: 

50 Riverside Industrial Parkway
Portland, Maine 04103

If you elect to escrow your property taxes, you will make monthly payments and the credit union will pay your taxes on your behalf.

If you do not escrow the property taxes, then you are responsible for making the property tax payment when it comes due. 

What is an escrow account?

• An escrow account is established as a convenient way to manage property taxes and insurance for your home. Sometimes referred to as an "impound account", escrow accounts allow you to make one monthly payment, instead of paying individual bills when they are due.
• A portion of your monthly mortgage payment goes directly to your mortgage (principal and interest) and the remainder is allocated to your escrow account to cover property taxes and insurance. When the individual bills are due, your lender will pay them with funds from your escrow account.