Tampa Bay FCU Home Loans

Tampa Bay FCU Home Loans Review

Tampa Bay FCU Home Loans is offered by Tampa Bay Federal Credit Union (NMLS #441290), a credit union founded in 1935 and based in Tampa, FL. Tampa Bay FCU Home Loans are available in 50 states (and Washington, DC).

Key Takeaways

• 3 different mortgage programs offered. Tampa Bay FCU Home Loans offers FHA, VA, jumbo, 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. Tampa Bay FCU Home Loans offers adjustable-rate mortgages and fixed-rate mortgages.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Tampa Bay FCU Home Loans.

Tampa Bay FCU Home Loans Pros & Cons

Tampa Bay FCU Home Loans FAQ

What is the maximum loan term you can get with Tampa Bay FCU Home Loans?

Tampa Bay FCU Home Loans offers mortgages with a maximum term of 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 Tampa Bay 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, Tampa Bay FCU Home Loans may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Tampa Bay FCU Home Loans 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%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
• 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 Tampa Bay FCU Home Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Tampa Bay FCU Home Loans 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 Tampa Bay FCU Home Loans is (813) 247-4414.

What is the support contact email?

The support contact email for is marketing@tampabayfederal.com.