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Earn up to 102% more with a FirstLight Federal Credit Union savings deposit
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Save up to $702 with a FirstLight Federal Credit Union credit card
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Earn up to 23% more with a FirstLight Federal Credit Union IRA
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Save up to $1,481 with a FirstLight Federal Credit Union RV loan
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Earn up to 134% more with a FirstLight Federal Credit Union money market1 Share Certificate
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Earn up to 72% more with a FirstLight Federal Credit Union checking account
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Texas, Save up to $32,953 with a FirstLight Federal Credit Union mortgage
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New Mexico, Save up to $26,542 with a FirstLight Federal Credit Union mortgage
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Las Cruces, Save up to $29,338 with a FirstLight Federal Credit Union mortgage
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The mortgage term is the length of your loan. Traditionally the most common term has been 30 years, but this number can vary anywhere from 10 to 30 years. Shorter loans usually have a lower interest rate, but they will always have a higher monthly payment since you are paying off the loan faster. A longer mortgage term means a lower monthly payment, but you will end up paying more interest over the life of the loan.