R.I.A. FCU Loan Options

These are Fannie Mae regulated products which are offered with several term options including 10-year, 15-year, 20-year and 30-year
The interest rate is set at the time of closing and remains constant over the entire loan term
Many loans are subject to a 20% down payment, although other loan options may be available
Loans with less than 20% down payment will typically require Private Mortgage Insurance
Borrowers must meet minimum credit requirements in order to be eligible for Fannie Mae regulated products

These are Fannie Mae regulated products which are offered with several initial fixed-rate periods of 5 and 10 years
The interest rate is set at the time of closing and remains constant over the initial fixed-rate period
Once the fixed-rate period expires, the interest rate can increase or decrease on an annual basis
Loans with less than 20% down payment will typically require Private Mortgage Insurance

This is a government-sponsored loan program geared towards first-time home buyers
Fixed-rate periods range from 10 years to 30 years
New purchase mortgages allow for a down payment as small as of 3.5% of the purchase price
The Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders throughout the United States
Check with one of our Mortgage Experts for pricing.

The Veterans Administration loan program enables veterans and active-duty personnel to purchase or refinance a home with favorable loan terms
Fixed Rate periods range from 10 years to 30 years
VA offers mortgages that can accommodate no down-payment on many purchase transactions
Check with one of our Mortgage Experts for pricing.

The United States Department of Agriculture loan program is favorable to those living in rural or low-income areas
30-year term only and do not need to be a first time homebuyer
USDA offers mortgages that can accommodate no down-payment and must meet income eligibility guidelines
Check with one of our Mortgage Experts for pricing.