Do you dream of owning your own home? We can help you make that dream come true.
Through our mortgage loan business partner, Credit Union Financial Services, we offer a range of conventional first-mortgage loans.
To apply for a First Mortgage, just go to Credit Union Financial Services.
If you need a shorter term than the traditional mortgage loan, we offer a 5-year or 7-year mortgage loan. These loans are processed and handled in-house. There are no closing costs*.
- The Credit Union offers a 5 Year or 7 Year fixed rate loan
- Loan amount will be determined by using 80% of the current appraisal of the subject property.
- Obtain credit report.
- Obtain Flood Certification.
- Obtain Title Insurance or Attorney Certificate of Title.
- No Escrow – Member will pay property taxes, homeowners insurance and any homeowners’ association fee.
- Closing will be paid by the credit union. *If member refinances during the life of the loan, the member must pay closing costs associated with refinancing. *If member pays loan off within the first 18 months, the closing costs must be reimbursed to the credit union.
- No transfer of service document to be signed by borrowers at closing.
- Escrow waiver document to be signed by borrowers at closing.
- Third party Fee Reimbursement to be signed at closing.
- Only applicants with ‘A’ or ‘B’ credit score will be approved.
- Debt to Income ratio must adhere to current mortgage qualifications.
- The waiting period to apply for a conventional mortgage loan is seven (7) years from the discharge date of a Chapter 7, and four (4) years from discharge date of a Chapter 13.
|5 year||3.50% APR|
|7 year||3.75% APR|