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knowing your goals are within reach
Even if you can’t afford to put 20% down, you may still be able to fulfill your dream of owning a home. Private Mortgage Insurance (PMI) makes homeownership a possibility for people who don’t have as much to contribute for a down payment. PMI is an insurance policy that helps protect the lender in case of default on mortgage payments.
While you are required to get PMI if your down payment is less than 20% of the appraised value or sale price of your home, you do have options when it comes to the terms of your policy. Redstone offers two types of PMI and there are advantages to each, depending on your situation. If you’d like help deciding which one best matches your needs, contact a member of our Mortgage Team and we’ll walk you through the pros and cons.
3%
CashBack on purchases made in the first 90 days
(Introductory offer)
1.5%
CashBack on ALL purchases made after the first 90 days
No limit on the amount you can receive
0%
Intro APR for 6 months on Balance Transfers made within first 30 days
After that, APR will range from 8.50% –12.00%
Our Visa Signature card features additional exclusive benefits1, including
Entertainment
Access to pre-sales and discounts on tickets to sporting events
Preferred seating offers for select Cirque du Soleil shows
Travel
Incredible travel packages, savings, and upgrades
Premium benefits at prestigious hotels worldwide
Trip Cancellation (reimburses some unused fares)
Dining
Complimentary wine tastings at Sonoma County wineries
Savings at restaurants and gourmet retailers
Service
24/7 Visa Signature Concierge2 service, which includes:
Travel and dining arrangements
Entertainment and event tickets
Hospitality services
Savings
Special offers from select retailers with Visa Discounts**
Price Protection (reimburses the price difference of an item if you find it advertised for less within 60 days of purchase)
Borrower-Paid Mortgage Insurance (BPMI)
How it works:
Best if you:
How it works:
Best if you:
Ready to Apply for a Redstone Private Mortgage?
EVERY Redstone Visa credit card includes all of these features
Convenience
Quick and easy purchases Visa is accepted all over the world
24/7 U.S.-based, live-agent phone support includes emergency card replacement
Manage your account anytime with Redstone’s Online Banking
Security
Zero-liability fraud protection
Monitor credit card activity with Credit Card Control
Real-time fraud monitoring and fraud text alerts
Identity theft assistance
Savings & Discounts
No annual fee
No Balance Transfer or Cash Advance fees
Visa Discounts on your purchases at select retailers**
Redstone Discounts!® when you use your card at many local businesses**
Additional Benefits
Travel and Emergency Assistance
24-hour Roadside Dispatch service
Auto Rental Collision Damage Waiver insurance coverage for cars rented with your Visa card
Warranty Manager Service manage, use, and extend the warranties of eligible items purchased with your Visa card
Can’t afford to put 20% down but don’t want to pay PMI? Consider Redstone’s No PMI Mortgages, which allow you to put 5% or 10% down and finance the rest—and you’ll pay no PMI.
See how
Mortgages are only available for properties located in Alabama and Tennessee.
Loans subject to credit approval. Must be RFCU® member to obtain mortgage. Must be eligible for membership and open a share savings account. A minimum balance of $5.00 is required to open and be maintained in share savings account at all times. Fees and other restrictions may apply. Contact Credit Union for details. Various types of mortgage loan programs and terms are available. RFCU is an Equal Opportunity Lender. Rates, terms and conditions are subject to change without notice. Must create separate user name and password to gain access to mortgage application process
*Consult your tax advisor regarding the deductibility of mortgage interest and private mortgage insurance premiums.
**LPMI typically terminates only when the loan is refinanced, paid off, or otherwise terminated. For BPMI, when the loan-to-value ratio reaches 78% of the original value, BPMI will be automatically terminated.
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Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.
This credit union is federally insured by the National Credit Union Administration.
Visa is a registered trademark of Visa International Services Association.
© 2020 Redstone Federal Credit Union (RFCU).
All rights reserved. Accessibility Statement.
This credit union is federally insured by the National Credit Union Administration.
Visa is a registered trademark of Visa International Services Association.
© 2020 Redstone Federal Credit Union (RFCU).
All rights reserved. Accessibility Statement.
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