Loans with low to zero down!
For those who qualify, a government-backed home loan can help lower your upfront costs to buy a home and reduce monthly payments to fit your budget.
Your loan options.
STCU can help qualified buyers take advantage of the three most popular government-backed loans:
- FHA loans — Great for first-time homebuyers, this loan is backed by the Federal Housing Administration to help reduce the upfront expense of a down payment and closing costs. It allows many homeowners to qualify for financing when conventional loan programs won't.
- VA loans — 100% financing available for qualified veterans and their families! Backed by Veterans Affairs, this loan helps eligible veterans qualify to purchase a new home with no down payment.
- USDA loans — Pay no money down to purchase your home in a neighborhood approved by the USDA. (You may be surprised how many close-in properties qualify!) Your loan is backed by the U.S. Department of Agriculture to promote housing for low-to-moderate income households.
Start by checking USDA loan eligibility for the property you want to buy and your monthly household income: A) Property eligibility — search the address. B) Income eligibility ― check if your income is within limits.
Half off origination fee for first-time homebuyers.
Greater buying power at an affordable rate.
*Application deposit: No deposit is necessary to apply for preapproval of an STCU loan until you have selected a property. A $250 application deposit is required on all home loans three business days after you have identified a home to buy and been issued a loan estimate. Although $100 of your deposit will be nonrefundable, STCU applies your deposit to your loan charges due at closing. All loans are subject to approval.