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.

• 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.

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?

Members First Credit Union Texas Home Purchase and Home Refinance offers the following mortgage types:

• Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
• 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%.
• 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 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