Member Exclusive: Mortgage Benefits
As a Kinecta member, we’re pleased to offer you discounts on your mortgage interest rate and closing costs based on your relationship with us. This means less cash required at closing and lower monthly payments.
Relationship Pricing for Mortgages1
Account Balance | Interest Rate Discount | Closing Credit |
$25,000 - $100,000 | .125% off | $500 |
$100,001- $300,000 | .250% off | $750 |
$300,001 + | .375% off | $1,000 |
In addition to meeting one of the deposit tiers listed above, all of the following requirements must be met to qualify for relationship pricing:
- Automated monthly mortgage payments from your Kinecta account
- Recurring direct deposit(s) or other ACH electronic funds transfer(s) into your Kinecta account
- Qualifying balance(s) must be in your Kinecta accounts(s) upon notice of final loan approval and prior to preparation of loan closing documentation
- Aggregate balances can be combined from Kinecta savings, share certificates, money market accounts, checking accounts, IRAs, and/or Kinecta Wealth Management2 investment accounts
Get started by applying online, or call 800-854-4501 to speak with a Mortgage Loan Consultant.
1Applies to first mortgages only and discounts and credits are not applicable on Home Equity Loans and/or Lines of Credit.
A Kinecta share account(s) (herein “share account” or “account”) with a minimal balance is required at the time of closing to receive the corresponding interest rate discount and closing cost credit identified in the table above. Automated monthly transfers of the mortgage payment from a Kinecta share account using automated drafting is also required. Actual interest rate shall be verified after final loan approval and subject to verification and satisfaction of the terms herein. Additionally, the share account must include a monthly recurring direct deposit or other ACH electronic funds transfer scheduled and in place prior to and at closing.
The interest rate discount and closing cost credit will depend on the level of the Kinecta and/or Kinecta Wealth Management eligible account balance(s). The closing cost credit offer will be applied at closing and may not be used prior to closing. In Texas, the credit may not result in you receiving cash back. Relationship pricing benefits cannot be combined with other offers and incentives. Eligible account balances will be verified upon final loan approval and shall remain on deposit at closing. Account balance(s) used to determine the discount and closing credit will be the balance(s) that remain(s) after any reduction for down payment and closing costs for the mortgage transaction.
Account balances must be in the member’s account(s) upon notice of final loan approval and prior to preparation of loan closing documentation. Kinecta eligible share accounts include traditional savings, share certificates, money market, checking and IRAs. Investment Accounts held through Kinecta Wealth Management are also eligible. The borrower must be an account holder on the Kinecta and Kinecta Wealth Management accounts.
Kinecta Relationship pricing is subject to change without notice.
2Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Kinecta Federal Credit Union and Kinecta Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Kinecta Wealth Management and are employees of Kinecta Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Kinecta Federal Credit Union or Kinecta Wealth Management. Certain fixed insurance products may also be offered through Kinecta Financial & Insurance Services, a subsidiary of Kinecta Federal Credit Union. Securities and insurance offered through LPL or its affiliates and fixed insurance products offered through Kinecta Financial & Insurance Services are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |