Our goal is to make your dream home purchase far more affordable through a smaller down payment and no private mortgage insurance (PMI).1
- Ideal option for first-time buyers who don't have a lot of savings
- Borrow up to 95% of your new home's value
- Qualify for a loan with a down payment of just 5%
- With no private mortgage insurance, your monthly loan payments will be lower
- Use extra cash for furnishings, renovations or to rebuild your savings
Exclusive Benefits Include
Reduce your long-term interest payments with our affordable fixed-rate mortgage without PMI.
Get prequalified1 with one quick phone call, you can find out how much you can afford. That makes your house-hunting less complicated.
Our digital tools allow you to handle most of your paperwork electronically, and our lending team will be available to answer any questions.
No Private Mortgage Insurance
This is a big component because it means you save money every month when you're not paying PMI.
Low Down Payment
It's easier to get into your home because you don't need to save up as much money for upfront costs.
Preferred Realtor Program2
Work with one of our preferred professionals and you'll get cash back to reduce your closing costs.
5% Down No PMI 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.
We're Here To Help
Schedule your appointment with a loan officer today
We have several convenient locations in North Texas. Come see us!
1LTV = Loan to Value. PMI = Private Mortgage Insurance. 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. Traditional closing costs apply. Membership required.
2The preferred realtor program is made available to you through a relationship between Credit Union of Texas (CUTX) and third party realtors. Program cash rebates are awarded by CUTX to buyers and sellers who select and use a real estate agent in the CUTX preferred realtor network, and are credited towards closing costs at close. Mortgage loan must be completed with Credit Union of Texas. Home buyers or sellers are not eligible for a cash rebate if they use an agent outside this network. Cash rebate amounts are dependent on the home sales price. Credit Union of Texas may have specific rules on how your cash rebate will be paid out. Cash rebate incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult CUTX for details that may affect you.
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.