Last Updated: 04/18/2025
Y-12 Federal Credit Union USDA Loan
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Credit Score Range
Starting at 640
Amount Range
N/A
Loan Term (Years)
Up to 30
Y-12 Federal Credit Union USDA Loan Review
Y-12 Federal Credit Union USDA Loan 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 USDA Loan are available in 50 states and Washington, DC.
Key Takeaways
- Only offers one mortgage pogram. Y-12 Federal Credit Union USDA Loan only provides USDA mortgages.
- Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
- Standard interest rates types. Y-12 Federal Credit Union USDA Loan only offers adjustable-rate mortgages.
- Only primary residences considered. Y-12 Federal Credit Union USDA 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.
- Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
- High maximum LTV ratio. Y-12 Federal Credit Union USDA 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 640 may qualify for Y-12 Federal Credit Union USDA Loan.
Y-12 Federal Credit Union USDA Loan Pros & Cons
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Y-12 Federal Credit Union USDA Loan FAQ
What is the maximum loan term you can get with Y-12 Federal Credit Union USDA Loan?
Y-12 Federal Credit Union USDA Loan 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 USDA Loan may charge a loan origination fee of 1% of the loan amount .
What mortgage programs are available?
Besides conventional mortgages, Y-12 Federal Credit Union USDA Loan offers the following mortgage types:
What property usage types does Y-12 Federal Credit Union USDA Loan allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Y-12 Federal Credit Union USDA Loan 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 USDA Loan 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