LOAN PROGRAMS
HomeStyle Renovation
Purchase or refinance option for any renovation project such as design updates or improvements, and even renovating accessory units like in-law suites or basement apartments. HomeStyle Renovation is a conventional mortgage that lets borrowers finance improvements, renovations or repairs to a home at the time of purchase or as a refinance transaction—up to 75% of the as-completed appraised value of the property.*
*The limit on eligible renovation funds is up to 75% of the lesser of the purchase price plus renovation costs, or the “as-completed” appraised value for purchase transactions; and 75% of the “as-completed” appraised value for refinance transactions. For manufactured housing, the eligible renovation funds capped at the lesser of $50,000 or 50% of the “as-completed” appraised value. HomeStyle and HomeReady are registered trademarks of Fannie Mae.
Portfolio
Credit Unions can help you with a home loan that fits your needs. Credit Unions understand that loans are more about the person than the numbers; having a lower credit score or previous foreclosure doesn't have to be something that will automatically disqualify you. Qualifying is easier than you think and Member Home Loan can help.
100% Financing
Purchase transactions only
No down payment required
3% seller contribution allowed
Primary residence one unit, SF and condo only
30 year term, fixed rate or 5 year ARM only
Bank Statement Program
Conforming products only
Purchase or rate & term refinancing only
No mortgage insurance
Primary residence one unit, SF and condo only
24 months of bank statements required
Purchase-Plus Improvement Loans
Make your new home just right for you.
With Purchase-Plus Improvement loans you can borrow more than the sales price* of your new home to update the interior, get a new pool or the outdoor kitchen you've always wanted. We can help make your dreams into a reality.
*Apprisal value must support purchase plus improvements.
Refi-Plus Renovation Loans
Make your current home just right for you!
With our Refinance-Plus Renovation loans you have the opportunity to include a new pool, outdoor living or kitchen areas, interior kitchens, baths and flooring to be funded as part of the refinance of your existing loan without it being considered a Texas Cash-Out and up to a maximum LTV of 95% of appraised value*.
*Primary residences only. Rules and restrictions apply. Please contact a Member Home Loan Representative for more informaiton.
HomeReady® by Fannie Mae
The path to homeownership may have seemed challenging until now.
For those first time home buyers with modest savings, HomeReady mortgage can be a great option. Thanks to features like a low down payment, cancellable mortgage insurance* and more, homeownership can be affordable. Ask us if HomeReady mortgage is right for you. Find out more at MyHomeReady.com.
*Restrictions apply.
FHA Home Loans
FHA Home Loans make owning a home easy.
The FHA Home Loan Program is a government insured mortgaged, allowing low down payment options for purchase and refinance transactions. These loans are a great option for first-time homebuyers with less than perfect credit.
Fixed and ARM options available
Gift and sellers contributions allowed
580 minimum FICO required (additional conditions may apply)
Purchase and refinance options available
HUD REO financing available
VA Loans
Obtain 100% financing with a VA Loan.
If you are an active duty veteran, retired veteran or the surviving spouse of a veteran, you can apply for a VA Loan.
No down payment
No Private Mortgage Insurance
Up to 4% seller contribution
Cash Out Refinance Loans
Imagine the possibilities of what you can do with extra cash!
Consolidate debt
Take a vacation
Renovate your home
Pay for college tuition
Save for a rainy day
Put money away for retirement
Learn more about cash out loans here.