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  MEMBERS1st Community Credit Union Mortgage Loan
MEMBERS1st Community Credit Union Mortgage Loan Unaffiliated

MEMBERS1st Community Credit Union Mortgage Loan

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Highlights
Loan Amount N/A
Loan Term (Years) 10 - 30 years
Credit Score Range 600 - 850
No Origination Fee N/A

MEMBERS1st Community Credit Union Mortgage Loan Review

MEMBERS1st Community Credit Union Mortgage Loan is offered by MEMBERS1st Community Credit Union, founded in 1964 and based in Marshalltown, IA. MEMBERS1st Community Credit Union Mortgage Loan is available in 1 state across the USA.

Key Takeaways
  • 5 different mortgage programs offered. MEMBERS1st Community Credit Union Mortgage Loan offers and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Standard interest rates types. MEMBERS1st Community Credit Union Mortgage Loan offers and fixed-rate mortgages.
  • Only primary residences considered. MEMBERS1st Community Credit Union Mortgage Loan does not offer financing for vacation homes or investment properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • High maximum LTV ratio. MEMBERS1st Community Credit Union Mortgage Loan has a maximum loan to value ratio of 100%, which is higher than average. Most lenders want you to have at least 20% equity.
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for MEMBERS1st Community Credit Union Mortgage Loan.
MEMBERS1st Community Credit Union Mortgage Loan Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 1 state.
MEMBERS1st Community Credit Union Mortgage Loan FAQ

What is the maximum loan term you can get with MEMBERS1st Community Credit Union Mortgage Loan?

MEMBERS1st Community Credit Union Mortgage Loan offers mortgages with terms ranging from 10 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 MEMBERS1st Community 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.

What is the estimated funding time?

MEMBERS1st Community Credit Union Mortgage Loan will typically fund mortgages within 30 and 45 days of approval.

Do they charge mortgage origination fees?

Yes, MEMBERS1st Community Credit Union Mortgage Loan may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, MEMBERS1st Community Credit Union Mortgage Loan offers the following mortgage types:

What property usage types does MEMBERS1st Community Credit Union Mortgage Loan allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. MEMBERS1st Community Credit Union Mortgage Loan allows the following property usage types: 

What is the support contact email?

The support contact email for this business credit card is info@members1st.com.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:30am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by MEMBERS1st Community Credit Union

Availability

  Available in 1 state
Iowa
Availabile in all of Iowa

Feature Breakdown

Credit Score Range 600 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use Primary Home
Joint Loan Applications Accepted
  • Individual Applications
Maximum LTV 100%
Minimum Age 18
Minimum Down Payment 0%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
  • Manufactured/Mobile Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Income Statement
Primary Residence
Loan Term 10 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • USDA
  • VA
  • Jumbo

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