Why choose DuPage Credit Union for your FHA loan?
|Low Down Payment Mortgage||FHA Loan|
|Down Payment||3% Down = $6,000||3.5% Down= $7,000|
|Upfront MIP||$0||1.75% Upfront MIP = $3,378|
|Monthly Mortgage Insurance||$133 until 20% paid (80% LTV)||$217 for life of the loan|
Get help with FHA Loans.
In order to qualify for an FHA loan, you have to be a legal resident of the United States, have a source of income and be able to provide a 3.5% down payment.
Yes. The great thing about an FHA loan is that you may qualify even if you have a lower credit score or you’ve filed for bankruptcy in the past.
No. You can pay your loan off as early as you’d like without worry of a prepayment penalty.
Yes, you can refinance with the FHA Streamline – a simplified, less complex refinance program that can get you a lower rate on your mortgage. To qualify, your current mortgage needs to be a FHA. Or, you can refinance with a Conventional Equity Loan to remove Private Mortgage Insurance (PMI) if you qualify.
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.