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Home Loans

Pave A Path To Your Forever Home

Home Loan Close Protection

Now with our Home Loan Close Protection we’ll give you a $1,000 credit towards closing costs if we don't close your purchase home loan by the contract closing date.

Testimonials

We’ve helped guide families through a personalized journey to find a home that fits their unique lifestyle and budget. Here are a few happy FCCU members.

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Rates


  Rate APR1 MONTHLY PRINCIPAL & INTEREST1
15 Year Fixed² 2.625% 2.972 % $1,177.21
30 Year Fixed² 2.875% 3.064% $726.06
10 - 20 Year Fixed² Please call 281.856.9057 N/A N/A
15 - 30 Year Fixed Jumbo³ Please call 281.856.9057 N/A N/A
15 Year Fixed Portfolio Start Rate⁴ 5.000% 5.309% $988.49
30 Year Fixed Portfolio Start Rate⁴ 5.250% 5.431% $690.25

FAQ

How do I know I qualify for a home loan?

Do I find the house first or apply for the loan first?

What documents do I need to apply for a home loan?

When should I get a home inspection done?

How long does it take to close the loan?

What does APR mean?

How do I know I qualify for a home loan?

FCCU will take some information that allows us to pre-qualify you for your new home loan. We will then issue you a prequalification letter that will indicate the maximum you can qualify for on your new home loan.

Do I find the house first or apply for the loan first?

It’s best to get the prequalification for the home loan first. This will save you time in the long run as most realtors want to know you are prequalified before they show you homes. It also lets the realtor know what price range homes to show you.

What documents do I need to apply for a home loan?

At First Community Credit Union you will need the following items to apply for a home loan:

  1. Two months bank and/or credit union statements (all pages)
  2. Previous Two years tax returns
  3. Thirty days of paycheck stubs showing year to date income
  4. A copy of all buyer’s social security cards and driver licenses
  5. If the down payment is coming from your 401k or retirement fund you will need to provide a copy of all pages of the last statement

When should I get a home inspection done?

Home inspection is always a good idea. The inspector will check plumbing, electrical, structure of the home, roof and foundation of the property. The inspector will give you an analysis of the property and item they find that need to be fixed as well as the estimated cost of those items. You can use this information in negotiating a final price for the home or just to know what to expect from your new home.

How long does it take to close the loan?

It may vary from loan to loan and we work closely with you as the buyer to ensure we have everything we need to close in a timely manner. It’s best to discuss this with your Real Estate Expert since it is a customized loan to your needs.

What does APR mean?

APR stands for Annual Percentage Rate and this is the most misunderstood term in buying something of value. An APR is the calculation of all the fees that go into closing your loan calculated as percentage over the term of the loan. All fees includes items such as the lender fees, Title Company, mortgage insurance, tax fees and recording fees.

Connect with Our Real Estate Department

Disclosures

We require a copy of the Loan Estimate and Closing Disclosure from the competitor for comparison purposes in order to receive the $250 if we cannot meet or beat your qualified rate in a comparable program. Paid upon completion of loan.

1The annual percentage rate (APR), is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on interest rates and points only and does not take into account other loan specific finance charges you may be required to pay. Payments do not include amounts for taxes and insurance premiums, if applicable, which may make the actual payment obligation greater.

210 year fixed, 15 year fixed, 20 year fixed, and 30 year fixed payment examples are based on a $175,000 loan amount. Additional terms and restrictions apply.

3Jumbo Loans are loans greater than $510,400. Payment examples are based on a $500,000 loan amount. Additional terms and restrictions apply.

410 year fixed portfolio start rate, 15 year fixed portfolio start rate, 20 year fixed portfolio start rate, and 30 year fixed portfolio start rate payment examples are based on a $125,000 loan amount. Any loans financed below the FCCU fixed portfolio start rate may be sold to a third party. Additional terms and restrictions apply. Financing for our best rates is based on 740 Credit Score, loan amount, and loan to value at a minimum of 75%. Lower credit score, Higher LTV's or loan amounts under $175,000 may affect interest rate. Please contact our Mortgage Department with any questions concerning loan programs. All loans are subject to lender requirements.

The rates listed above do not include special program rates and do not apply to cash-out refinances. For those rates contact our Mortgage Department at 281.856.9057. RATES ARE SUBJECT TO CHANGE AT ANYTIME WITHOUT NOTICE.

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18) TO: Discriminate in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.

UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL TO DISCRIMINATE IN ANY CREDIT TRANSACTION: On the basis of race, color, national origin, religion, sex, marital status, or age; Because income is from public assistance; or because a right was exercised under the Consumer Credit Protection Act.