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  Members First Credit Union of Florida Construction to Permanent Mortgage

Members First Credit Union of Florida Construction to Permanent Mortgage

in Home Purchase Mortgages from Members First Credit Union of Florida · NMLS ID #490547

Unaffiliated

Members First Credit Union of Florida Construction to Permanent Mortgage

Unaffiliated

in Home Purchase Mortgages from Members First Credit Union of Florida · NMLS ID #490547

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Highlights
Loan Amount N/A
Loan Term (Years) 1 - 30 years
Credit Score Range 600 - 850

Members First Credit Union of Florida Construction to Permanent Mortgage Review

Members First Credit Union of Florida Construction to Permanent Mortgage is offered by Members First Credit Union of Florida (NMLS #490547), a credit union founded in 1954 and based in Pensacola, FL. Members First Credit Union of Florida Construction to Permanent Mortgage is available in 1 state across the USA.

Key Takeaways
  • Only two mortgage programs offered. Members First Credit Union of Florida Construction to Permanent Mortgage provides FHA VA conforming and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. Members First Credit Union of Florida Construction to Permanent Mortgage only offers adjustable-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No origination fee. Members First Credit Union of Florida Construction to Permanent Mortgage does not charge a fee for processing your loan application.
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Members First Credit Union of Florida Construction to Permanent Mortgage.
Members First Credit Union of Florida Construction to Permanent Mortgage Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • $0 origination fee.
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Only available in 1 state.
Members First Credit Union of Florida Construction to Permanent Mortgage FAQ

What is the maximum loan term you can get with Members First Credit Union of Florida Construction to Permanent Mortgage?

Members First Credit Union of Florida Construction to Permanent Mortgage offers mortgages with terms ranging from 1 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 Members First Credit Union of Florida 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.

Members First Credit Union of Florida Construction to Permanent Mortgage offers home loans with APRs starting at 3.25% .

Does Members First Credit Union of Florida Construction to Permanent Mortgage charge an application fee?

Do they charge mortgage origination fees?

No, Members First Credit Union of Florida Construction to Permanent Mortgage does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Do they charge prepayment fees?

No, there are 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, Members First Credit Union of Florida Construction to Permanent 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 Members First Credit Union of Florida Construction to Permanent Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Members First Credit Union of Florida Construction to Permanent 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 this business card is .

What is the support contact email?

The support contact email for this business credit card is mfcufl@mfcufl.org.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 4:30pm
  • Tuesday 9:00am - 4:30pm
  • Wednesday 9:00am - 4:30pm
  • Thursday 9:00am - 4:30pm
  • Friday 9:00am - 4:30pm
  • Saturday 8:30am - 12:00pm

Other Services by Members First Credit Union of Florida

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Availability

  Available in 1 state
Florida
Availabile in all of Florida

Feature Breakdown

No Origination Fee
No Prepayment Fee
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted
  • Individual Applications
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Primary Residence
APR Starting at 3.25%
Loan Term 1 - 30 years
Interest Rate Types Offered Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA

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