All mortgage programs are not the same, and it’s important to understand the differences. Whether you're buying your first home, making your next move or simply refinancing, Foothill Credit Union has the terms, features and options designed to make getting a mortgage easier. Let us help you understand all the choices you have when it comes to a home mortgage. (NMLS# 681615)
Great Home Loans.... Making Dreams Affordable!
Buying your first home can seem intimidating, especially when you’re faced with so many different options. Don’t worry, at Foothill Credit Union we’re here to help you through the process each step of the way.
Foothill now offers First-Time Home Buyers Program (FHA Loans). Maximum loan to value 96.50% with a credit score 640. Call us at 626-445-0950, ext. 6237 to see how this program will work for you.
To purchase conventional real estate and obtain financing for a conforming loan, you would need at least a 5% down payment. Maximum loan amount for a conforming loan is $417,000.
To purchase real estate and obtain financing for a jumbo loan; you will need a 20% down payment for a maximum loan to value of 80%. Maximum loan amounts for Jumbo loans are $625,500.
Schedule an appointment with a Mortgage Loan Representative at (626) 445-0950 ext. 6237 or 6236 today. At Foothill, we have the experience and commitment to help you choose the loan that is right for you.
To get started, here's a quick review of various mortgage options and some helpful hints as to when each loan may be appropriate. Use this list to help you narrow down the choices to what is best:
Fixed Rate Mortgage: A mortgage loan where the interest rate on the mortgage remains the same through the term of the loan. At Foothill, you can borrow up to $417,000 on our conforming loans, and up to $1,000,000 on our Jumbo Loans.
Adjustable Loans: A mortgage loan where the interest rate on the loan is periodically adjusted based on the 1-year Constant Maturity Treasury Index (CMT).
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