FHA loans are a great option for first-time homebuyers or those with less-than-perfect credit. VA loans are a great benefit for those who have served, offering advantages like no down payment and competitive interest rates. Features include:
- Terms
- Fixed rate Term 15 and 30 years*
- Credit History
- Minimum two years' history
- Credit Score Minimum
- 620 (FHA)
- 600 (VA)
- Down Payment
- As low as 3.5% (FHA)
- Not required (VA)
*Payment Sample: Pay $3,447.42 per month for 360 months on $575,000 loan at 6.829% APR. Payment samples exclude impound items such as taxes and insurance. Actual payments will be higher. Rates shown accurate as of 10/16/2024; subject to change without notice. See kpcu.com/Loans/Home-Loans/Pricing-First-Mortgage-Loans for current available rates.
FHA and VA loans are available in all states except Alaska, Arizona, Hawaii, Massachusetts, New York, Rhode Island, Vermont, Virginia and Washington, DC. Primary residence only. Manufactured homes not eligible.
Federal Housing Administration (FHA) loans require taxes and insurance to be impounded per month. Private mortgage insurance required. FHA maximum mortgage loan limit based on loan limits for specified Metropolitan Statistical Area as defined by U.S. Department of Housing and Urban Development (HUD). FHA insured loans are backed by the United States government.
VA loans are guaranteed by the U.S. Department of Veteran Affairs (VA) who require taxes and insurance to be impounded per month, and depending on eligibility may require a VA Funding Fee of 1.25% to 3.30% of the base loan amount. VA maximum mortgage loan limit based on loan limits for specified Metropolitan Statistical Area as defined by Federal Housing Finance Agency (FHFA).
FHA and VA loans are available in all states except Alaska, Arizona, Hawaii, Massachusetts, New York, Rhode Island, Vermont, Virginia and Washington, DC. Primary residence only. Manufactured homes not eligible.
Federal Housing Administration (FHA) loans require taxes and insurance to be impounded per month. Private mortgage insurance required. FHA maximum mortgage loan limit based on loan limits for specified Metropolitan Statistical Area as defined by U.S. Department of Housing and Urban Development (HUD). FHA insured loans are backed by the United States government.
VA loans are guaranteed by the U.S. Department of Veteran Affairs (VA) who require taxes and insurance to be impounded per month, and depending on eligibility may require a VA Funding Fee of 1.25% to 3.30% of the base loan amount. VA maximum mortgage loan limit based on loan limits for specified Metropolitan Statistical Area as defined by Federal Housing Finance Agency (FHFA).