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  Members First Credit Union Texas Home Purchase and Home Refinance

Members First Credit Union Texas Home Purchase and Home Refinance

in Home Purchase Mortgages from Members First Credit Union - Texas

Unaffiliated

Members First Credit Union Texas Home Purchase and Home Refinance

Unaffiliated

in Home Purchase Mortgages from Members First Credit Union - Texas

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

Members First Credit Union Texas Home Purchase and Home Refinance Review

Members First Credit Union Texas Home Purchase and Home Refinance is offered by Members First Credit Union - Texas, a credit union founded in 1938 and based in Corpus Christi, TX. Members First Credit Union Texas Home Purchase and Home Refinance is available in 1 state across the USA.

Key Takeaways
  • Only two mortgage programs offered. Members First Credit Union Texas Home Purchase and Home Refinance 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 Texas Home Purchase and Home Refinance offers adjustable-rate mortgages and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Members First Credit Union Texas Home Purchase and Home Refinance 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.
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Members First Credit Union Texas Home Purchase and Home Refinance.
Members First Credit Union Texas Home Purchase and Home Refinance Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 1 state.
Members First Credit Union Texas Home Purchase and Home Refinance FAQ

What mortgage rates does Members First Credit Union - Texas 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 Texas Home Purchase and Home Refinance offers home loans with APRs starting at 2.85% and up to 10.35%.

Does Members First Credit Union Texas Home Purchase and Home Refinance charge an application fee?

Do they charge mortgage origination fees?

Yes, Members First Credit Union Texas Home Purchase and Home Refinance may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Members First Credit Union Texas Home Purchase and Home Refinance 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 Texas Home Purchase and Home Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Members First Credit Union Texas Home Purchase and Home Refinance allows the following property usage types: 

  • Primary home

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 info@m1st.org.

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Availability

  Available in 1 state
Texas
Availabile in all of Texas

Feature Breakdown

Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use Primary 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)
APR 2.85% - 10.35%
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA

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