Water and Power Community CU Home Loans

Key Takeaways

• Wide selection of mortgage programs offered. Water and Power Community CU Home Loans offers FHA, VA, jumbo, conforming, and conventional mortgages.
• Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
• No primary residences considered. Water and Power Community CU Home Loans does not offer financing for primary homes.
• 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 Water and Power Community CU Home Loans.

Water and Power Community CU Home Loans Pros & Cons

Water and Power Community CU Home Loans FAQ

What is the maximum loan term you can get with Water and Power Community CU Home Loans?

What mortgage rates does Water and Power Community Credit Union offer?

Do they charge mortgage origination fees?

What mortgage programs are available?

• 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.
• VA loans: A zero down payment mortgage or a refinance of up to 100% 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 is the customer service phone number?