Low Down Payment Mortgage
Why is a Low Down Payment Mortgage Better Than an FHA Loan?
Simple! DuPage Credit Union:
- Does not charge upfront Mortgage Insurance Premium (MIP) Fees.
- Does not require endless home inspections that take time and money — your money!
- Only requires Private Mortgage Insurance (PMI) until you have 20% invested in your home. FHA requires you to pay Mortgage Insurance every month for the entire life of your loan.
Learn how you can save thousands over the life of your loan with a DuPage Credit Union Low Down Payment Mortgage.
|Example||Credit Union Low Down Payment Loan||FHA Loan|
|Down Payment||3% Down = $6,000.00||3.5% Down= $7,000.00|
|Upfront MIP||$0.00||1.75% Upfront MIP = $3,378|
|Monthly Mortgage Insurance||$133.00 Until 20% Paid (80% LTV)||$217.00 For Life of the Loan|
|DuPage Credit Union Low Down Payment Monthly Savings:
That’s a savings of over $14,000 during the first nine-years of your loan and $60,000 over the life of the loan!
Benefits of a DuPage Credit Union Home Loan
Whether you’re financing your first home or your fifth, enjoy exceptional personal service, customized solutions and benefits that save you time and money, including:
- Non-commissioned home loan experts
- No application fee until you lock your rate
- The ability to conveniently and securely submit and receive documents online
- Our Mortgage Care-N-Tee to meet your original closing date
- Knowing you will always make your mortgage payments directly to DuPage Credit Union
- And more!
We lend in all of Illinois for primary residence. Closing fees may apply for certain counties.