Home Loans
Open the door to your dream home
Whether you’re buying your first home, moving across town or looking for a larger place for your family, KeyPoint offers a variety of mortgage options with competitive rates. We lend in all 50 states! We offer:
- Fixed-rate loans: Offers long-term financial stability, as your interest rate and monthly payment will stay the same over the length of the loan.
- Adjustable-rate mortgage: Lower initial rates help maximize buying power and reduce monthly payments. ARMs come with fixed rates for the first 3, 5, 7 or 10 years - depending on the loan - and rates are then adjusted periodically thereafter.
- High-balance conforming loans: Borrow up to 95% of a home’s assessed value, with loans up to $970,800. (Mortgage insurance may be required if you finance more than 80% of the property value.)
- Jumbo loans: Buyers looking for larger homes or moving to more expensive neighborhoods can borrow up to $3.5 million.
We look at your entire financial package and do everything possible to help get you into your home:
- A credit score at least 640 makes you eligible for a Jumbo loan.
- Self-employment—Members who may have trouble documenting their income may qualify based on financial account (credit union, bank, and brokerage) statements.
- Income producing assets—Members who may not have traditional sources of earned income but receive their income for asset distributions are eligible.
- Work at or own a cannabis related business—You are eligible to apply for a home loan for residential properties in CA if your cannabis employer or business has a business banking relationship with KeyPoint Credit Union.
Members with KeyPoint mortgages may take advantage of:
- Loan modification—Instead of a refinance, you may be able to lower your existing rate with minimal documentation.
- Recasting—For Members who would like to pay a lump sum payment to pay down their mortgage balance and then have lower monthly payments, you may be able to have your loan balance recasted (re-amortized) over the life of the loan.
- High-dollar refinances with cash-out options
- Date of birth
- Social Security number
- Valid email address and contact phone number
- Current home address (plus previous address, if you have lived at your current residence for less than two years)
- Estimated market value of the property you are trying to finance
- Name and address of current employer (plus name and address of previous employer if you have been at your current job for less than two years)
- All credit obligations and expenses, including housing, child support, credit card payments, loan payments, etc.
- All asset information, including the value of all of your accounts: checking, savings, investments, retirement, etc.
- Gross income total, which can include secondary income sources. You do not need to list alimony, child support, or separate maintenance agreements if you do not want to have that income taken into consideration
If you're buying a home, you'll also need:
- Address of your prospective home
- Estimated purchase price of your prospective home and closing date
- Estimated down payment amount
- Estimated annual property tax, insurance, or any homeowner's association dues
If you're refinancing a home, you'll also need:
- The year your home was purchased
- Original purchase price
- Original loan amount and the total outstanding balance on that loan and any other loans secured by your property
- Current estimated property value
- The total amount you wish to borrow
Potentially save thousands of dollars by merging your mortgage loan and checking account.
- Your paycheck gets deposited into your account. Pay your bills and spend your money like normal.
- While your money is sitting in your account, it is reducing the mortgage interest you pay on a daily basis.
- Build equity in your home even faster than you would with a bi-weekly mortgage.
- Pay off your loan faster and take a big slice out of your total interest charges.