FHA Mortgage
Do you want to buy a house but need a low down payment? FHA loans are available to first-time home buyers and require a down payment as low as 3.5%. With an FHA Mortgage from Michigan Schools and Government Credit Union, you'll receive:
- Low down payment options
- Low closing costs
- Competitive interest rates
- No prepayment penalty
While banks are taking a break from mortgages, contact one of our Mortgage Specialists to find out which mortgage is right for you.
| FHA Mortgage | |||
| Term | Rates as low as | Points | APR* |
| 30 Year Fixed | 4.500% | 0.25% | 4.529% |
| 20 Year Fixed | 4.500% | 0.25% | 4.539% |
| 15 Year Fixed | 4.250% | 0.25% | 4.310% |
| 10 Year Fixed | 4.250% | 0.25% | 4.322% |
| Example: A loan amount of $150,000 at 4.500% for 360 months would have a monthly payment of $760.03. | |||
| *APR = Annual Percentage Rate | |||
