Last Updated: 04/18/2025
Water and Power Community CU Home Loans
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
N/A
Loan Term (Years)
5 - 30
Water and Power Community CU Home Loans Review
Water and Power Community CU Home Loans is offered by Water and Power Community Credit Union , a credit union founded in 1936 and based in Los Angeles, CA. Water and Power Community CU Home Loans are available in 50 states and Washington, DC.
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.
Water and Power Community CU Home Loans Pros & Cons
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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?
Water and Power Community CU Home Loans offers mortgages with terms ranging from 5 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 Water and Power 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.
Do they charge mortgage origination fees?
Yes, Water and Power Community CU Home Loans may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, Water and Power Community CU 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.
- 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?
The customer service number for Water and Power Community CU Home Loans is (800) 300-9728.
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 5:00PM
Tuesday
8:00AM - 5:00PM
Wednesday
8:00AM - 5:00PM
Thursday
8:00AM - 5:00PM
Friday
8:00AM - 5:00PM
Saturday
Closed