Last Updated: 04/18/2025
Inova Federal Credit Union Lot Acquisition Loans
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
N/A
Loan Term (Years)
Up to 10
Inova Federal Credit Union Lot Acquisition Loans Review
Inova Federal Credit Union Lot Acquisition Loans is offered by Inova Federal Credit Union , a credit union founded in 1942 and based in Elkhart, IN. Inova Federal Credit Union Lot Acquisition Loans are available in 50 states and Washington, DC.
Key Takeaways
- Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
- Standard interest rates types. Inova Federal Credit Union Lot Acquisition Loans only offers fixed-rate mortgages.
- Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Inova Federal Credit Union Lot Acquisition Loans does offer financing for primary and secondary homes (e.g. vacation properties).
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- Maximum LTV. Inova Federal Credit Union Lot Acquisition Loans has a maximum loan to value ratio of 80%.
Inova Federal Credit Union Lot Acquisition Loans Pros & Cons
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Inova Federal Credit Union Lot Acquisition Loans FAQ
What is the maximum loan term you can get with Inova Federal Credit Union Lot Acquisition Loans?
Inova Federal Credit Union Lot Acquisition Loans offers mortgages with a maximum term of 10 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 Lot Acquisition Loans may charge a loan origination fee .
What property usage types does Inova Federal Credit Union Lot Acquisition Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Inova Federal Credit Union Lot Acquisition Loans 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 Inova Federal Credit Union Lot Acquisition Loans 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