First City CU Home Mortgage Loans

First City CU Home Mortgage Loans Review

First City CU Home Mortgage Loans is offered by first city credit union (NMLS #649182), a credit union founded in 1937 and based in Altadena, CA. first city home mortgage loans are available in 1 state across the USA.

Key Takeaways

• 4 different mortgage programs offered. First City CU Home Mortgage Loans offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
• Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
• Standard interest rates types. First City CU Home Mortgage Loans offers option ARM mortgages adjustable-rate mortgages and fixed-rate mortgages.
• Only primary residences considered. First City CU Home Mortgage Loans does not offer financing for vacation homes or investment properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

First City CU Home Mortgage Loans Pros & Cons

first city home mortgage loans FAQ

How much can you borrow via First City Credit Union?

first city home mortgage loans allows borrowers to apply for loan amounts of up to $1,500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with first city home mortgage loans?

first city 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 First City 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.

first city home mortgage loans offers home loans with APRs starting at 4.625% .

Do they charge mortgage origination fees?

Yes, first city home mortgage loans may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, first city 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 ($726,000 as of 2023).
• 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.
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What is the customer service phone number?

The customer service number for First City CU Home Mortgage Loans is (800) 934-2489.

What is the support contact email?

The support contact email for is infocenter@firstcitycu.org.