Houston Federal Credit Union Home Loans

Houston Federal Credit Union Home Loans Review

Houston Federal Credit Union Home Loans is offered by houston federal credit union (NMLS #673404), a credit union founded in 1960 and based in Sugar Land, TX. houston federal credit union are available in 50 states (and Washington, DC).

Key Takeaways

• 3 different mortgage programs offered. Houston Federal Credit Union Home Loans offers USDA, VA, jumbo, conforming, and conventional mortgages.
• Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Maximum LTV. Houston Federal Credit Union Home Loans has a maximum loan to value ratio of 80%.

Houston Federal Credit Union Home Loans Pros & Cons

houston federal credit union FAQ

What is the maximum loan term you can get with houston federal credit union?

houston federal credit union 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 Houston 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.

houston federal credit union offers home loans with APRs starting at 5.343% and up to 6.219%.

Do they charge mortgage origination fees?

Yes, houston federal credit union may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, houston federal credit union offers the following mortgage types:

• 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 property usage types does houston federal credit union allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. houston federal credit union allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties

What is the customer service phone number?

The customer service number for Houston Federal Credit Union Home Loans is (281) 243-0500.

What is the support contact email?

The support contact email for is talktous@houstonfcu.org.