Last Updated: 04/18/2025
Greater New Orleans FCU FHA 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)
15 - 30
Greater New Orleans FCU FHA Mortgage Loans Review
Greater New Orleans FCU FHA Mortgage Loans is offered by Greater New Orleans Federal Credit Union , a credit union founded in 1935 and based in Metairie, LA. Greater New Orleans FCU FHA Mortgage Loans are available in 50 states and Washington, DC.
Key Takeaways
- Only offers one mortgage pogram. Greater New Orleans FCU FHA Mortgage Loans only provides FHA mortgages.
- Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
- Standard interest rates types. Greater New Orleans FCU FHA Mortgage Loans only offers fixed-rate mortgages.
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- High maximum LTV ratio. Greater New Orleans FCU FHA Mortgage Loans has a maximum loan to value ratio of 96.5%, which is higher than average. Most lenders want you to have at least 20% equity.
Greater New Orleans FCU FHA Mortgage Loans Pros & Cons
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Greater New Orleans FCU FHA Mortgage Loans FAQ
What is the maximum loan term you can get with Greater New Orleans FCU FHA Mortgage Loans?
Greater New Orleans FCU FHA Mortgage Loans offers mortgages with terms ranging from 15 to 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 Greater New Orleans Federal 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, Greater New Orleans FCU FHA Mortgage Loans may charge a loan origination fee .
Does Greater New Orleans FCU FHA Mortgage Loans charge prepayment fees?
No, Greater New Orleans FCU FHA Mortgage Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs are available?
Besides conventional mortgages, Greater New Orleans FCU FHA 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%.
What property usage types does Greater New Orleans FCU FHA Mortgage Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Greater New Orleans FCU FHA 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 Greater New Orleans FCU FHA Mortgage Loans is (504) 454-8224.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
10:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
9:00AM - 1:00PM