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Union Mortgage - "We get it done!"
Home Ownership is Easy and Affordable with 100% Financing! We have several low down-payment loan programs designed to help you afford a home. As little as $500 toward closing costs and a strong credit profile is all you need to qualify.
1st Time Home Buyers Programs
- Covers 100% of the Purchase Price
- Requires little or no down payment
- Eliminates mortgage insurance with an 80/20 option
- Permits gifts, grants and loans to pay for closing costs
- Use your down-payment savings to cover other investments or expenses
- Purchase or refinance your primary residence
- Designed for first-time homebuyers
100% financing programs reward your good credit with a new home.
Cross the Threshold of Homeownership with an Affordable "MyCommunityMortgage" (FOR POLICE OFFICER, FIREFIGHTER, VETERAN)
If you are a little short of cash for your down payment, a MyCommunityMortgage may allow you to purchase a new home with a minimum amount from your own funds. Offers a Wide Range of Flexible Options
- No minimum down payment required on some program options
- Finance up to 100% on the purchase price
- Allows higher qualifying rations for teachers and public safety employees
- Permits gifts, grants and loans to pay for down payment and closing costs
- Accepts utilities and rent payments to build credit histories
A MyCommunityMortgage offers a specialized solution for those who serve the community.
One Income Programs
If you are concerned that you will not qualify for a loan because your family earns only one income, come talk to us.
We have a loan program that makes it possible for families to own their own home, even if they have no more than one income. This exclusive mortgage loan is possible thanks to more flexible requirements for qualification, for example:
- Rent and lease payments, as well as electric, water or gas utilities are used as a non-traditional credit history.
- Payments received for caring for children, cleansing services, and for home and auto repair qualify as income.
- Both donations and cash contributions made by family members are accepted as inputs for paying the down payment (or "advance").
- Very low down payments (or "advances"): 1% of the sale price or $500, whichever is less.
40 Year Loans Offer More Options
A 40-year term may be the right fit if you want to own a home, but need lower monthly payments.
Choices for Qualified Buyers
- Fixed rate loans
- Fixed period adjustable rate mortgages
- Specific interest only loans qualify
- All property types allowed, including condominiums
Interest Only Purchase Loans - Improve Your Cash Flow
Let us help free up your funds.
If you want lower monthly mortgage payments to help manage your finances, an interest only home loan my be the solution.
Interest Only Loans to Meet your Specific Needs
- Fixed rate or fixed period adjustable rate
- Interest only payments for the first 10 years
- 30 year and 40 year terms available
- Full amortization after the interest only period
- Principle payments can lower your interest during initial period
- No prepayment penalty option
Paying only the interest portion of your mortgage allows cash flow for other expenses or investments.
Foreign National Program - 75% LTV
Purchase Only! Maximum 75% LTV
Available on Stated Income Verified Assets (SIVA)
Passport & Visa Obtained for Eligibility
If there is no Tax ID# or SS#, a copy of the Certificate of Foreign Status (IRS Form W-8 Ben) must be retained
No Credit Score Needed
Alternative Credit Allowed 3 original letters from a lending institution, each at least 2 years old, showing a clear payment history
