GEICO Federal Credit Union - One GEICO Plaza, Washington, DC 20076
(301) 986-2082 (800) 542-7896 FAX (301) 986-3757
Thank you for your inquiry regarding our Home Equity/Second Mortgage (Fixed Rate) Loan. The
enclosed packet contains information about our Home Equity/Second Mortgage product. Please read
carefully as it explains the terms and conditions of our Closed End (Fixed Rate) Mortgage Loan. This
packet will allow you to apply for your loan if you decide to do so, simply complete application fully,
attach the documents requested and mail to us or fax the application and documents, then mail us the
The property securing the loan must be your principal (primary) residence, and located in the following states: District of
Columbia, Maryland, Commonwealth of Virginia, West Virginia, Georgia, New York, Florida or California.
The interest rates on our Home Equity/Second Mortgage Loan products are based on the “Prime
Rate” found in the Money Section of the Wall Street Journal on the last day of each month. The rate
on a 5 Year Loan is Prime plus 1%, 10 Year loan is Prime plus 1.50%, 15 Year loan is Prime plus
2.00%. These rates are subject to change on the first day of each and every month.
Application fee(s) required must be paid when application is submitted and the closing costs (if
applicable) at the closing/settlement date by the borrower(s). GEICO FCU may refund a portion or
pay all closing cost at any given time as agreed.
The following information is required to process your Home Equity/Second Mortgage Loan:
1. Home Equity Loan Credit Application - Please complete all sections, date and sign.
2. Photocopy of last paycheck stub (both applicants if joint) - Please provide verification of all
income included on the application. If self-employed, please provide copies of the last two- (2)
years (recent) Federal Tax Returns and 1099s.
3. Photocopy of Deed/Mortgage to Home (vary by state Deed/Deed