Fraternity-Testvériség, 1994 (72. évfolyam, 1-4. szám)

1994-07-01 / 3. szám

Page 12 TESTVÉRISÉG Bertalan Oláh 226 Helen Kayatin WEST VIRGINIA 4317 Bristol St. (Temp. Supervision) 153 Andrew P. Varga Pittsburgh, PA 15207 P.O. Box 186 210 Scenic Drive (412) 521-3412 Richeyville, PA 15358 Core, W.VA 26529 (216) 447-7806 (304) 879-5110 Rev. Joseph Posta Box 657 235 Kati Nagengast 213 Agnes Haydu Ligonier, PA 15658 244 Hastings Street Box 56 (412) 238-6711 Pittsburgh, PA 15206 Pecks Mill, W.VA 25547 (412) 362-2308 (304) 752-3019 Susie Kaufman 4210 Davison Ave. 355 Katie Ceto Davis Grandview Apts. #425 RD 1, Box 30-0 Erie, PA 16504 Fayette City, PA 15438 (814) 825-6421 (412) 326-8889 * Branches handled through the Home Office. Tel. (202) 328-2630 HRFA MORTGAGE APPLICATION PROCEDURE I n response to questions regarding our mortgage application procedure, we submit the following guidelines for your information. Mortgages are granted as investment income becomes available. The applicant must be a member in good standing for a minimum of two years; on a joint application, at least one person must be a member to qualify. A letter of application should be addressed to the President. The request is transferred to the Treasurer, who sends information and an application form to the member. TERMS: a. No building loans, commercial or industrial mortgages will be granted, b. This must be a first mortgage, c. The maximum loan is 70% of the appraised value of the applicant’s residential property (limited to a one- or two-family home), and is not to exceed $100,000 principal. d. The maximum mortgage is a duration of twenty years. e. The interest rate to be charged on any mortgage loan will be determined by the Executive Committee. f. There is no pre-payment penalty. g. A $125.00 non-refundable application fee is required. h. An appraisal from a licensed appraiser is required. i. A credit report will be obtained by the HRFA in conjunction with your application. j. Information regarding the documents necessary to close the mortgage is supplied to the applicant by the Treasurer’s Department. k. All the necessary documents are reviewed and approved by the Legal Counsel. l. Refinancing of an existing mortgage with the HRFA has a 1% fee on the amount to be financed, with no application fee. m. A donation, in the name of the applicant, is made to the Student Aid & Loan Fund. This is done upon closing of the mortgage loan and submission of all necessary documents including the recorded mortgage and title insurance policy. The Federation still holds to its long standing tradition of granting mortgage to churches also. Information regarding application procedures for these mortgages may be obtained from the Treasurer’s Department. (Effective May 1, 1994) Suzanne S. Virgulák, Treasurer

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