Last Updated: 04/18/2025
Inova Federal Credit Union FHA Fixed Rate Mortgage
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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
Inova Federal Credit Union FHA Fixed Rate Mortgage Review
Inova Federal Credit Union FHA Fixed Rate Mortgage is offered by Inova Federal Credit Union , a credit union founded in 1942 and based in Elkhart, IN. Inova Federal Credit Union FHA Fixed Rate Mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Only offers one mortgage pogram. Inova Federal Credit Union FHA Fixed Rate Mortgage only provides FHA mortgages.
- Financing for single-family and multi-family properties. However, Inova Federal Credit Union does not offer financing for manufactured homes.
- Standard interest rates types. Inova Federal Credit Union FHA Fixed Rate Mortgage 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.
- No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Inova Federal Credit Union FHA Fixed Rate Mortgage Pros & Cons
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Inova Federal Credit Union FHA Fixed Rate Mortgage FAQ
What is the maximum loan term you can get with Inova Federal Credit Union FHA Fixed Rate Mortgage?
Inova Federal Credit Union FHA Fixed Rate Mortgage 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 Inova 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, Inova Federal Credit Union FHA Fixed Rate Mortgage may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, Inova Federal Credit Union FHA Fixed Rate Mortgage 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 Inova Federal Credit Union FHA Fixed Rate Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Inova Federal Credit Union FHA Fixed Rate Mortgage 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 Inova Federal Credit Union FHA Fixed Rate Mortgage is (574) 294-6553.
What is the support contact email?
The support contact email for is socialmedia@inovafcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM