Schedule a free appointment with a home loan expert today.
An FHA loan is a government-backed home loan option insured by the Federal Housing Administration that requires a down payment of only 3.5%.1skip to disclosure
Why choose DuPage Credit Union for your FHA loan?
Looking for a better alternative to FHA?*skip to disclosure
With a Low Down Payment Mortgage, you'll save $67/month while paying mortgage insurance and $200/month after mortgage insurance is no longer required. That's a savings of $60,000 over the life of a 30-year loan.
| Low Down Payment Mortgage | FHA Loan | |
|---|---|---|
| Purchase Price | $200,000 | $200,000 |
| Down Payment | 3% Down = $6,000 | 3.5% Down= $7,000 |
| Upfront MIP | $0 | 1.75% Upfront MIP = $3,378 |
| Loan Amount | $194,000 | $196,378 |
| Estimated Rate | 4.50% | 4.25% |
| Principal/Interest Payment | $983 | $966 |
| Monthly Mortgage Insurance | $133 until 20% paid (80% LTV) | $217 for life of the loan |
| Monthly Payment | $1,116 | $1,183 |
Get help with FHA Loans.
We're happy to help.
-
Homeowners insurance required. Single-Family homes only in Illinois. Does not include 2-4 flat or apartment complex financing. Consult a tax adviser regarding deductibility of interest. Must be a Member in good standing. Other restrictions may apply.
-
DuPage Credit Union does not service FHA Loans. For more information, please contact us at 800-323-2611.
-
The rate lock period is 50 days.
-
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
800-323-2611
Message Us
Branches & ATMs
Pay My Loan
Schedule Appointment