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Mortgage Loans

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Types of Loans

 

Conventional Mortgage

  • Down payments between 5% - 20%
  • Used for purchase or refinance of primary, secondary, or investment property
  • No mortgage insurance if 80% LTV or lower
  • Down Payment Assistance Programs

 

VA

  • 100% purchase financing
  • No PMI
  • Cash out up to 100% of property value

 

FHA

  • Lower credit score requirements
  • Low down payments, 3.5%
  • Down Payment Assistance Programs

 

USDA/Rural Development

  • Occupy property as primary residence
  • Property address must qualify for financing

 

Reverse Mortgage

  • Be 62 years of age or older
  • Occupy the property as primary residence
  • Closing costs can be financed into the loan

 

Pivot Lending Group Product: Fixed & Balloon Terms Available!

Local Decision Making

Contact the Mortgage Team at mortgagelending@membersfirstccu.com


NMLS: #641284