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Looking to buy that dream home you have always wanted?? Or maybe you would like to refinance or borrow against the house you already own?? HealthCare First CU has the perfect solution…we offer 2 types of Mortgages:

FIXED RATE PURCHASE MONEY LOAN

  • The term of the loan may not exceed 15 years. The maximum LTV 90% for loans under $75,000 and 80% for loans above $75,000. The minimum credit score needed to process a loan will be 700 (only one of the financially responsible borrows must meet this qualification) and the maximum debt to income ratio must be 43%. The maximum loan to value (LTV) will be 90%. If the loan request is for more than $75,000 the minimum credit score is 700 and the maximum LTV is 80%.
  • The Credit Union must be provided with a copy of the sales agreement.
  • The Credit Union will not offer credit disability and credit life on mortgage loans for purchase or for paying off purchase loans. The member will be responsible for paying all fees involved with a disbursed mortgage loan. They include, but are not necessarily limited to:
    • Appraisal fee (must be paid before the appraisal is ordered)
    • 1% of the amount financed (minimum of $500)
    • Appraisal, attorney and flood certification/life of loan tracking
    • Any monies necessary for upcoming taxes and insurance premiums
    • Applicable points

FIXED RATE MORTGAGE NOT FOR PURCHASE MONEY LOAN

  • The term of the loan may not exceed 15 years. The maximum LTV 90% for loans under $75,000 and 80% for loans above $75,000. The minimum credit score needed to process a loan will be 700 (only one of the financially responsible borrows must meet this qualification) and the maximum debt to income ratio must be 43%. The maximum loan to value (LTV) will be 90%. If the loan request is for more than $75,000 the minimum credit score is 700 and the maximum LTV is 80%.
  • The Credit Union must be provided with a copy of the sales agreement.
  • The member will be responsible for paying all fees involved with a disbursed mortgage loan. They include, but are not necessarily limited to:
    • Appraisal fee (must be paid before the appraisal is ordered)
    • 1% of the amount financed (minimum of $500)
    • Appraisal, attorney and flood certification/life of loan tracking
    • Any monies necessary for upcoming taxes and insurance premiums
    • Applicable points
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