With competitive rates and an experienced staff,
your dream of owning a home can become a reality when you finance with us
Our friendly and knowledgeable experts will simplify the home buying process and provide you peace of mind by assisting you every step of the way.
The fixed rate mortgage has been the most popular loan used in America for many years. With a fixed rate mortgage, your interest rate remains constant for the length of the loan so your monthly payments never vary.
We offer various fixed rate term options, including conventional and jumbo loans, as well as FHA, VA, and state bond programs, which require little or no down payment.
An Adjustable Rate Mortgage (ARM) usually offers an initial interest rate that is lower than a fixed rate mortgage. However, over the term of the mortgage the interest rate with this type of loan may increase or decrease, thereby adjusting the payment amount up or down.
Most ARM's do offer protection against rapid rate increases, with an interest rate "cap" or "ceiling." Some ARMs even have a convertible feature that allows you to convert to a fixed rate mortgage at specific times over the course of the loan.
An FHA loan is insured by the Federal Housing Administration and is an ideal financing option for first time homebuyers because it allows for a low down payment, minimal credit history and flexible underwriting guidelines. FHA mortgages also offer both fixed and adjustable rates.
PHFA is a stable, state bond program offering low down payments and interest rates to first time homebuyers.
VA Mortgages are guaranteed by the Department of Veteran Affairs for eligible veterans, reservists, or unmarried surviving spouses of a veteran.
The VA mortgage does not require a down payment and offers a fixed rate for the life of the loan. Closing costs may also be reduced because the seller is allowed to pay all settlement costs, although rates and points are negotiable.
A remodeling loan is an option if you want to do a renovation, add-on or repair an issue to your current home or one you are looking to purchase.
A remodeling loan enables you to refinance both the purchase (or refinance) and repairs, updates, or eligible improvements for the property. Most importantly, there is only one mortgage to worry about. Remodeling loans are available in conventional and FHA mortgages with fixed and adjustable rates.
If you currently own a home, but are looking to sell, you may be expecting that the equity from the sale of that home will enable you to purchase a new home. However, if your present home hasn't sold prior to the closing of your new home, then a "bridge" or "swing" loan may be helpful.
A bridge loan provides interim financing and enables you to buy a new home before you sell your existing one by using the equity in your current home, whether or not it is sold or listed for sale. We will collateralize the bridge loan by recording a mortgage against this property, and full payment will be required upon its sale/closing, with an initial term of 6 months.
Now you can build your dream home and obtain permanent mortgage financing with a construction to permanent loan. A construction to permanent loan can simplify the home building process with flexible FHF guidelines and only one closing. You can choose a construction term and a customized draw system to fit your individual needs.
Extended options are also available in the case that issues or inclement weather prolong the time it takes to build your home.
Upon completion, the mortgage becomes a permanent fixed rate loan with no additional costs or closing documents needed.
A jumbo mortgage is a loan amount above the industry-standard definition of conventional loan limits (i.e. limits set by Fannie Mae and Freddie Mac). Rates on a Jumbo loan may also be higher as well. Jumbo loan limits are reviewed annually, and currently, the single family home limit is $417,000.
A piggyback mortgage involves the use of two separate loans in a purchase or refinance transaction; the second is referred to as a "piggy back." This type of loan is primarily used to eliminate private mortgage insurance, but it may also lower your monthly mortgage payment. Additionally, it could provides greater tax deductibility* and helps build equity more quickly in your home.
If you currently have a fixed-rate mortgage at a higher interest rate, refinancing could help reduce your monthly payments or the number of years to pay off the loan. If your current mortgage is at an adjustable rate, refinancing could help you lock in a lower interest, fixed- rate mortgage with payments that won't change for the life of the loan.
Most refinancing fees can be included in the new mortgage, if you have enough equity in the home present value, therefore requiring very little out-of-pocket closing costs.
The FHA 203K Rehabilitation Program was designed by the Department of Housing and Urban Development (HUD) for the rehabilitation and repair of single family properties. The program is broken down into two types of Rehabilitation Loans: Regular or Streamlined, both of which can be used for a new purchase or a refinance, and require a borrower to pay 3.5% of the home's purchase or refinance price plus the cost of repairs. See below for a detailed breakout of the requirements between each as they do differ.
A committed loan pre-approval from us could help you formally assess the scope of what you can afford before you buy. Schedule a consultation with one of our mortgage experts and they will help you identify the best financing options for your unique situation. Best of all, it is absolutely free!
* Consult a tax advisor for further information.
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