Buying a home is a big step. Making sure it is affordable and knowing what to expect during the process and going forward are priorities. As your trusted financial institution, we are happy to help guide you through questions such as:
- Are my finances and credit score in mortgage-ready shape?
- How much home can I afford?
- How much can I qualify for? How does pre-qualification differ from pre-approval?
- Should I apply for a mortgage before I find a property? Does mortgage pre-approval benefit me when I am ready to make an offer?
- How much will my payments be? What other costs should I budget for monthly?
- What are closing costs, and how much are they?
- How much down payment is expected? Can I borrow it?
BlueOx Credit Union offers a variety of mortgages to suit our members unique situations, including:
- Primary residence or second home
- Rental property
- Flexible terms, from "mini-mortgages" to 30 years, and our special new mortgage product – a 12½ year mortgage at the 10 year rate!
- Mortgage Loans (5, 10, 12 ½, 15 & 30 YR) fixed rates.
- Conventional and Fannie Programs (Primary, Second, Investment & Member Business Loans).
- 97% Fannie Programs. Low to moderate income cap of 100% median income.
- Jumbo Loans (Primary, Second & investment).
- Construction Loans (Primary, Second & investment) at 80% LTV.
- Vacant Land Loans (80% max LTV)
- Condominium Loans
- Blanket Loans (70% LTV on current home and 80% LTV on new home)