Log In  |  Contact Us  |  Help
Mortgage Loan Types

Obtaining a mortgage loan is easy when you partner with one of United Federal Credit Union's mortgage advisors.  No matter what home financing needs you have, UFCU has the loan products to best serve your needs.  Our product offerings include:

Fixed Rate Mortgage (FRM)
A mortgage with an interest rate and P&I payment that remain constant for the entire term of the loan.

Adjustable Rate Mortgage (ARM)
A loan with an initial fixed period (i.e., 5 or 7 years).  After the fixed rate period, your interest rate and P&I payment amount  may change-either up or down, depending on market conditions.  

Conforming Loan
A mortgage that is equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac's federal regulator, the Federal Housing Finance Authority (FHFA).

Jumbo Loan
A mortgage with a loan amount exceeding the conforming loan limits set by the Federal Housing Finance Authority (FHFA).

Conventional Loan
Any mortgage that is not guaranteed or insured by the federal government.

Government Loan
A mortgage that is guaranteed by the Department of Veterans Affairs (VA), the Federal Housing Administration (FHA), or the United States Department of Agriculture/Rural Development (USDA/RD).

Construction-to-Permanent (aka Construction/Perm) Loan
Funds the construction of a new home and then modifies to a permanent loan at the end of construction.  The loan is closed for the total loan amount, and funds are withdrawn over time as the various phases of construction are completed.  Upon completion of the home, the loan rolls to a permanent mortgage.

Lot Loan
Provides financing to purchase a buildable, vacant lot on which you intend to build a home within the next five years.

Contact us today to explore your home financing options and find the loan program that's right for you!



APR = Annual Percentage Rate

ARM = Adjustable Rate Mortgage, which means the rate and payment may increase after consummation

United Federal Credit Union
2807 South State Street, St. Joseph, MI  49085
Toll Free:  (800) 777-1627
Copyright © 2020 United Federal Credit Union
NMLS ID# 471962
Privacy Policy  | Security Statement  |  Site Map