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Do your plan on staying in your home for years to come? Does your peace of mind depend on payments that never change? Fixed Rate Mortgages work by setting monthly payments based on interest rates, the principal loan amount and the amortized interest over the term of the loan. Your payments will never change, and you can pay your mortgage in full at any time without pre-payment penalties.
Do you want to significantly reduce the cost of your mortgage? Are you planning on moving or refinancing in the next five to ten years? Do you want the lowest rate available? Adjustable Rate Mortgages work by setting fixed interest rates for a period of five to seven years, at the end of each period your interest rate can adjust up or down depending on market conditions. Rate adjustments are capped at 5% above your initial rate, and 2–5% per adjustment period. Actual payments will vary based on individual situations or current interest rates at time of application, and you can pay your mortgage in full at any time without pre-payment penalties.
Are you a veteran, member of the military or a surviving spouse of a veteran? Do you want fast approval and minimal red tape? Are you interested in financing up to 100% of your home or buying a home with now down payment? Governed by the US Department of Veterans Affairs, VA Mortgages are set to give back to those who have given their all to their country, who have credit scores as low as a 620.
VA Mortgages allow for both fixed and adjustable rates. Actual payments will vary based on individual situations or current interest rates at time of application, and you can pay your mortgage in full at any time without pre-payment penalties.
Do you need less stringent qualification and credit requirements? Is your down payment or home equity less than 20%?
FHA Loans allow for both fixed and adjustable rates. Actual payments will vary based on individual situations or current interest rates at time of application, and you can pay your mortgage in full at any time without pre-payment penalties.
A reverse mortgage can be a powerful financial tool for homeowners aged 62 or older looking to access the equity in their home without selling it. Whether you want to supplement your retirement income, cover medical expenses, or simply improve your quality of life, a reverse mortgage allows you to tap into the value of your home while continuing to live in it.
It’s important to carefully consider the pros and cons before moving forward. If you have significant equity in your home and want to maintain your independence, a reverse mortgage could help you achieve your financial goals. If you’re considering a reverse mortgage, our team of experts is here to help you explore your options, answer your questions, and guide you through the process.
If you’ve found the perfect location but the home needs a little TLC, a purchase renovation mortgage loan could be the solution you need. These loans combine the purchase of a home with the funds for renovations, repairs, and improvements, all in one convenient loan. Whether you're buying a fixer-upper or want to make significant upgrades to a new home, a purchase renovation loan can simplify the financing process. Whether you’re looking to make cosmetic improvements or take on larger structural projects, a purchase renovation loan gives you the flexibility to turn a house into your dream home.
If you’re an investor looking to purchase rental properties or other income-generating real estate, a DSCR mortgage loan could be the perfect solution. With a DSCR loan, lenders evaluate the property’s income potential instead of focusing solely on your personal financial profile. This makes it an ideal option for real estate investors who want to finance multiple properties or secure funding based on the property’s cash flow.
When you become an Associated Credit Union of Texas member, you become part of everything we do to improve the quality of life in our community.
Last year, we provided $5,923,116 in savings to our members, saving each household approximately $281.
My auto loan went through as smooth as glass. It is enjoyable working with people that know exactly how to get the job done.Rick – Member
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