Buying your first home? Upgrading? Downsizing? STCU is the place to go for help securing a home loan that will fit your budget.
STCU is a full-service financial institution you can trust with something as important as your home. Our decision makers are local, and we service all of our conventional home loans in-house.
Get preapproved for your home loan and we'll lock in the best rate available to you while you shop for your home.
Fixed- and adjustable-rate mortgages are available from STCU with no money down. The seller can even contribute up to 3% to help you close the deal.
Contact us first to determine how much home you can afford. We'll answer your questions and guide you through the steps it takes to purchase your home.
| Your options at a glance | Conventional mortgage loans | Construction mortgage loans | 97/100 programs | VA mortgage program | FHA |
|---|---|---|---|---|---|
| Maximum loan amount | $417,000 | $417,000 | $417,000 | $417,000[1] | $200,160 |
| Maximum household income | none | none | none | none | none |
| Maximum payment to income ratio | 28% | 28% | 28% [4] | n/a | 29% |
| Maximum debt to income ratio | 36% | 36% | 41% [4] | 41%[2] | 41% |
| Origination fee | 1% $750 min |
1.5% | 1% $750 min [5] |
1% | 1% |
| Prepayment penalty? | no | no | no | no | no |
| Assumable? | no [3] | no | no | yes | yes |
| Other requirements | none | none | none | veteran's status | none |
Notes: [1] Purchase transactions only; cash-out refinance maximum: $144,000. [2]Applicants must also meet "residual income" minimums for family size and geographic region. [3] With some exceptions, products may be assumable. [4] Debt-to-income ratios are not required in some instances. [5] Qualifying first-time homebuyers may receive a reduced loan origination fee. Contact an STCU Real Estate Loan officers for details. Terms and conditions are subject to change without notice.
