Home Loan Options Built to Fit Your Borrowing Needs
You know what you want in a home — how many bedrooms, how big the yard should be. But do you know what to look for in a home lender? Or the benefits of working with a local one?
At UFirst Federal Credit Union, we’re your trusted local mortgage lender. We know the local market and take the time to understand your unique needs, helping you find the right loan with competitive rates and terms. From pre-approval to closing, we’re with you every step of the way — and every loan decision is made right here in our offices.
Your Mortgage Loan Options
Be sure to ask about our Mortgage Saving Certificate, which can help you save money on closing costs and make your home purchase even more affordable.
Loan Options | What You Need to Know About This Loan |
|---|---|
Fixed-Rate Mortgages | Up to 80% maximum financing. Offers a consistent interest rate and monthly payments for the life of the loan. Ideal for long-term planning and stability. |
Adjustable-Rate Mortgages | Up to 80% maximum financing. Initial lower interest rates that adjust periodically based on market conditions. Suitable for those planning to move or refinance before the rate adjusts. |
PMI Mortgages | Up to 97% maximum financing. Requires Private Mortgage Insurance (PMI) for loans with less than 20% down payment. Helps buyers with lower down payments qualify for a mortgage. |
Construction Loans | Finance up to 80% of the cost to build. Allows you to lock your interest rate and close your loan before construction starts. Disbursements made during construction with interest-only payments. Converts to a permanent mortgage post-construction. |
FHA Loans | Backed by the Federal Housing Administration. Lower down payment requirements and more flexible credit guidelines. Ideal for first-time homebuyers or those with less-than-perfect credit. |
VA Loans | Available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves. No down payment required and no PMI. |
USDA Loans | Designed for rural property buyers. Offers 100% financing with no down payment required. Income limits and property eligibility requirements apply. |
Investment Property Loans | Financing options for purchasing rental or investment properties. Typically requires a larger down payment and higher interest rates compared to primary residence loans. |
Secondary Home Purchases | Loans for purchasing a second home or vacation property. May require a larger down payment and higher interest rates compared to primary residence loans. |