These two popular government-backed loan programs offer friendly financial terms that make home-buying far more affordable.
- Active duty military, veterans, reservists and some military spouses are eligible
- 0% down payment option
- Low mortgage rates and reduced closing costs
- No private mortgage insurance required
- Good choice for many first-time homebuyers
- Down payments as low as 3.5%
- Less-than-perfect credit scores acceptable
- Higher debt-to-income ratio permitted
Consider These Benefits
Even though VA and FHA loans are government backed, you'll still work with local financial professionals you can trust at CUTX.
Both VA and FHA loans come in fixed-rate and adjustable-rate options, and in a variety of loan lengths - up to 30 years.
VA and FHA loans are both "assumable." That means that when you sell your home, you can transfer the beneficial terms to eligible buyers.
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FHA & VA Mortgage FAQs
Along with the down payment and monthly payment, you have:
- Closing costs, which may be between 1% and 5% of the loan
- Property taxes
- Home insurance
Plus, as a homeowner, you’re responsible for upkeep and maintenance, so it’s a good idea to have extra money budgeted for those expenses.
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NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. CUTX home loan programs are only available in Texas. Loans are subject to credit approval, CUTX's lending policies, and property approval. Prequalification is not a commitment to lend. Membership required.