A small down payment can make a big difference in your life
- FHA loans offer low down payment options
- Low closing costs
- For a limited time, get up to $825 off of closing costs*
- Competitive interest rates as low as 4.875% on fixed-rate and adjustable-rate loans
- No prepayment penalty
Most traditional mortgages require down payments of 5% to 10%. But Federal Housing Authority (FHA) loans can help you realize your dream of homeownership for as little as 3.5% down. Michigan Schools and Government Credit Union Mortgage Experts can walk you through every step of the application process.
*The up to $825 incentive includes: 1) waiver of $450 underwriting fee for all mortgages applied for between 6/1/2018 and 12/31/2018 and 2) coupon toward a free appraisal (up to $375) when attending a free Homebuyers Workshop prior to closing. Appraisal coupon credit will be applied at the time of closing. To register for an upcoming Homebuyers Workshop, visit msgcu.org/homebuyers.