Mortgages: ways to get preapproved for the mortgage

Assisting you find an accepted spot to phone house, or get the value in your home you have.

• Purchase or refinance your property
• Co-op Share Loans
• Fixed, Adjustable Speed and Jumbo Loans
• Residence Equity Loans to assist you access the worthiness in your current house

Reclaim your ambitions money for hard times.

Meet Tynice

Residence Mortgages and Refinancing

Our Loan Officers at Credit Union Mortgage Association (CUMA) provide our users a selection of mortgage loan choices with reasonable prices and low charges.

In addition to CUMA’s individual user solution, you can effortlessly easily use on line to get pre-approved for home financing. Some loan choices can provide you immediate pre-qualification that is online.

Our home mortgages provide you with your options you’ll want to buy a house that is new refinance your present home:

• Fixed, Adjustable Speed and Jumbo Loans
• FHA (Federal Housing Administration) funding for sale in Virginia, Maryland and D.C.
• Old-fashioned and VA (Veterans management) financing nationwide
• Advance payment support programs might be available

Apply online or call our mortgage hotline at 855-621-5865.

What’s the procedure for purchasing a property?

• Regulate how much you’ll afford
• Decide on that loan
• Apply for pre-qualification or pre-approval
• Find your property
• Make an offer
• Proceed through inspections
• Closing process

Co-op Share Loans

Because housing cooperatives (co-ops) are a typical and affordable as a type of housing into the D.C. Area, we provide Co-op Share Loans as a mortgage choice.

A housing co-op is really group, frequently arranged being a business, that has an item of property such as for instance a flat building. Rather than investing in an apartment that is specific the building, you get a share regarding the business that has it. Then you receive a lease that is proprietary the apartment. You feel a shareholder, and so are partially in charge of common areas, upkeep costs and home fees.

Once you use DC Credit Union for your Co-op Share Loan, you could expect:

• Mortgage loan officers with co-op experience who are able to make suggestions through the method
• Reasonable prices (ask a DC Credit Union employee for latest prices)

Apply online or call our home loan hotline at 855-621-5865

We now have a proven contract because of the after cooperatives in the D.C. Area.

Then we might be a good fit for you if you are looking to purchase a share in one of these co-ops:

• Kenesaw Housing Cooperative
• NEW Parkchester Housing Cooperative

Residence Equity Loans

Your house could be a good resource for money. When you have owned your house for a while, it is feasible you have got 1000s of dollars worth of equity you need to use as a way to obtain funds.

Equity may be the distinction between industry value of your house additionally the quantity you borrowed from in your home loan. By firmly taking away that loan on that equity, it is possible to buy expenses, make house renovations, buy a car or truck, and take care of other major costs.

You can expect closed-end house equity loans and a true mortgage loan credit line. Both provide the following advantages:

• Capacity to borrow bigger quantities for major expenses minimal rates that are reasonable
• Interest may be tax-deductible (check with your income tax consultant)
• Counts towards CU*Perks eligibility

Residence Equity Loans

Residence Equity Credit Line

Most readily useful if you prefer:

A solitary lump-sum that is paid down over a group period of time.

An open-ended way to obtain funds that one may withdraw from since you need in the long run.

Monthly Premiums

Fixed for the whole loan term.

Differ aided by the level of the mortgage, and as you repay it the actual quantity of funds accessible to you is replenished.