Home Buying Loans
Buying a home is a huge milestone for nearly everyone. Whether you are a first time buyer or an experienced home owner, the mortgage process can be a stressful process. Fortunately, this mortgage process can be easy and enjoyable if you have the right people on your side. At Union Capital, our mortgage loan officers will walk you through the mortgage process, so you can get to closing on time and enjoy your new home!
Buying Your First Home? We’ll Show You How
Union Capital Mortgage loan officers can help guide you through the home buying process. We will get you pre-approved before you start home shopping. Union Capital Mortgage loan officers will guide you through the loan processing and underwriting the stages and get you ready to close! Most importantly, we will make sure you understand your loan options and get the right mortgage for your situation.
We have helped tens of thousands of clients buy their first homes. Speak with one of our mortgage loan officers to find out more and get started!
Common First-Time Home Buying Programs
Union Capital Mortgage loan officers can help you with any part of the mortgage process!
Here are some of the most common loan types we work with:
Purchase Loans
Conventional Purchase Loan
Our goal is to give you the best conventional loan product and interest rate for your specific situation.
Union Capital Mortgage provides a variety of conventional fixed-rate and adjustable-rate loans. Whether you want to refinance to lower your monthly payment, or purchase the house of your dreams, our mortgage loan officers are ready and available to answer any of your questions!
-
Fixed-Rate Mortgage:
- Your interest rate will be fixed for the life of the loan, so you won’t have to worry about rising interest rates.
- Your monthly payment can be made over a 15-, 20-, or 30-year period. A 30-year fixed-rate mortgage will have the lowest payment, because the loan is spread out over a longer period of time.
- With a fixed interest rate, your principal and interest payments do not change – only the amounts for your property taxes and homeowners insurance will go up or down during the life of the loan.
-
Adjustable-Rate Mortgage (ARM):
- Your interest rate will be fixed for a period of 5, 7, or 10 years.
- After the initial fixed-rate, your interest rate may change annually. It can go up or down depending on the index rate and ARM margin (fixed amount added to the index to calculate your interest rate).
- In general, your interest rate cannot decrease lower than your margin, or increase more than 2% annually, or 5% over the life of the loan.
- This means your monthly payment can change annually after the initial fixed period.
FHA Loan
Flexible credit, down payment and underwriting requirements make this a great loan for buying a home or refinancing.
An FHA loan provides borrowers with an alternative to conventional financing. Union Capital Mortgage loan officers assist in processing and approving FHA loans in-house, we can close your purchase or refinance in as little as 2 weeks!
FHA Loan Guidelines:
- Buy a primary home with as little as 3.5% down.
- Refinance up to 97.75% of your primary home’s value.
- Flexible credit requirements – credit scores of 600 may qualify.
- A seller can contribute up to 6% of the sale price to the FHA home buyer.
- A parent or relative can be a non-occupying co-borrower on your loan.
Veterans Administration (VA) Loan
Are you a veteran, military member, or military spouse? If so, you could qualify for a VA loan.
Veterans can purchase a new home with no out-of-pocket money, refinance up to 100% of the home’s value, and never pay monthly mortgage insurance. Union Capital Mortgage is a VA Automatic Lender, meaning we approve VA loans in-house. Our mortgage loan officers have decades of experience assisting veterans – it would be our honor to help you obtain your VA loan!
Buy a home with no money down – 0% down payment!:
- 15-, 20-, and 30-year fixed-rate available.
- 5-year ARM loans available.
- Jumbo VA loans available.
- Refinance up to 100% of your primary home’s value.
- VA Streamline Refinance (IRRRL) loans do not require an appraisal or credit underwriting – available for veterans.
- Currently in VA loans.
- No monthly mortgage insurance.
- VA loans are guaranteed by the U.S. Department of Veterans Affairs.
Low Down Payment Conventional Purchase Loan
We are dedicated to helping fund your dream home with low down payment options – as low as 3%.
Union Capital Mortgage loan officers have the expertise and variety of Low Down Payment Conventional purchase loans required to help you choose the best loan product for your unique financial situation.
Jumbo Loans
Jumbo loans can provide financing (up to $3 million) for the purchase or refinance of luxury and high-end homes.
If you need a mortgage amount greater than $647,200, you may want to inquire about a jumbo loan. Union Capital Mortgage loan officers have the expertise and variety of jumbo loans available to help you choose the best loan for your unique financial situation.
Jumbo Loan Overview:
- Available for purchase and refinance transactions.
- Fixed-rate loan types including 15- and 30-year.
- ARM loan types including 5-, 7-, 10-, and 15-year ARM
- Offer maximum flexibility for financing “non-conforming” loan amounts (over $647,200)
- Union Capital Mortgage loan officers have access to a number of jumbo loan products that other lenders and traditional banks cannot offer
Mortgage Payments
Disclaimer:
Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. Union Capital Mortgage does not guarantee the accuracy of any information or inputs by users of the software.
This calculator does not have the ability to pre-qualify you for any loan program which should be verified independently with one of our Union Capital mortgage loan officers. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. Union Capital Mortgage does not guarantee any of the information obtained by this calculator.
Discuss your options
with us!
Reach out to us with any questions you may have about the mortgage process! We’re here to guide you towards the best loans for your lifestyle and financial goals. Give us a call at (800) 914-6784 or fill out the contact form below!
Call Us Today!