Last Updated: 04/18/2025
Y-12 Federal Credit Union Jumbo Mortgage
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Credit Score Range
Starting at 700
Amount Range
Starting at $647,202
Loan Term (Years)
Up to 30
Y-12 Federal Credit Union Jumbo Mortgage Review
Y-12 Federal Credit Union Jumbo Mortgage is offered by Y-12 Federal Credit Union , a credit union founded in 1950 and based in Oak Ridge, TN. Y-12 Federal Credit Union Jumbo Mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Only offers one mortgage pogram. Y-12 Federal Credit Union Jumbo Mortgage only provides jumbo mortgages.
- Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
- Non-standard interest rates available. Y-12 Federal Credit Union Jumbo Mortgage offers adjustable-rate mortgages, hybrid mortgages, and fixed-rate mortgages.
- Only primary residences considered. Y-12 Federal Credit Union Jumbo Mortgage 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. Y-12 Federal Credit Union Jumbo Mortgage has a maximum loan to value ratio of 90%, which is higher than average. Most lenders want you to have at least 20% equity.
- Good credit required. You will need a credit score of at least 700 to qualify.
Y-12 Federal Credit Union Jumbo Mortgage Pros & Cons
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Y-12 Federal Credit Union Jumbo Mortgage FAQ
What is the maximum loan term you can get with Y-12 Federal Credit Union Jumbo Mortgage?
Y-12 Federal Credit Union Jumbo Mortgage 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 Y-12 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, Y-12 Federal Credit Union Jumbo Mortgage may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, Y-12 Federal Credit Union Jumbo Mortgage offers the following mortgage types:
- Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
What property usage types does Y-12 Federal Credit Union Jumbo Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Y-12 Federal Credit Union Jumbo Mortgage allows the following property usage types:
- Primary home
What is the customer service phone number?
The customer service number for Y-12 Federal Credit Union Jumbo Mortgage is (865) 482-1043.
What is the support contact email?
The support contact email for is Y12info@y12fcu.org.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM