Last Updated: 04/18/2025
Electro Savings CU Home Mortgage Loans
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
N/A
Loan Term (Years)
Up to 30
Electro Savings CU Home Mortgage Loans Review
Electro Savings CU Home Mortgage Loans is offered by Electro Savings Credit Union , a credit union founded in 1941 and based in St. Louis, MO. Electro Savings CU Home Mortgage Loans are available in 50 states and Washington, DC.
Key Takeaways
- Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
- Wide selection of mortgage programs offered. Electro Savings CU Home Mortgage Loans offers FHA, USDA, jumbo, and conventional mortgages.
- Financing for single-family and multi-family properties. However, Electro Savings Credit Union does not offer financing for manufactured homes.
- Standard interest rates types. Electro Savings CU Home Mortgage Loans offers option ARM mortgages, adjustable-rate mortgages, and fixed-rate mortgages.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Electro Savings CU Home Mortgage Loans.
Electro Savings CU Home Mortgage Loans Pros & Cons
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Electro Savings CU Home Mortgage Loans FAQ
What is the maximum loan term you can get with Electro Savings CU Home Mortgage Loans?
Electro Savings CU Home Mortgage Loans offers mortgages with a maximum term of 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does Electro Savings Credit Union offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
Do they charge mortgage origination fees?
Yes, Electro Savings CU Home Mortgage Loans may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, Electro Savings CU Home Mortgage Loans offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
- USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
What property usage types does Electro Savings CU Home Mortgage Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Electro Savings CU Home Mortgage Loans allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects
What is the customer service phone number?
The customer service number for Electro Savings CU Home Mortgage Loans is (314) 434-6470.
What is the support contact email?
The support contact email for is members@escu.org.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
10:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM
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