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Affordable Housing Loan Programs

Owning your home is something to which we all strive. It gives us a sense of independence, ownership and pride. It also gives many benefits such as:

• building a nest egg with the equity in your home
• tax benefits by deducting mortgage interest payments
• and community involvement with your residence

If you're renting, or don't think you can afford homeownership, we're here to help. We have a variety of programs specifically designed for affordable housing and the first-time homebuyer.

Yes, You Can Own a Home!

Don't let limitations in your income, savings or borrowing history keep you from seeking homeownership. Some of the programs we offer could fit your specific needs:

• no down payment is needed through the My Community Mortgage program
• low down payment loans are available through our Flex 97 Mortgage program
• lower interest rate loans are available through our VHFA loan program or adjustable rate mortgage loans

Getting Started

The processing of house hunting, negotiating a sales price, and applying for a mortgage can feel overwhelming. And the jargon that is added to our vocabulary when applying for a mortgage such as "loan to value", "credit score", "mortgage insurance", "qualifying ratios", etc., can make your head spin. Knowing where to start is confusing.

That's why we're here. We'll work with you right from the beginning and help educate you through the process. Our mortgage originators, the VSECU staff that specialize in helping members obtain mortgage loans, work closely with real estate agents, are very knowledgeable and have years of experience. A good place to start is to get pre-approved for a loan before you shop for a home. This will help reduce any anxiety about how much of a home you can afford.

If owning a home is a goal of yours contact a mortgage originator. We're here to help and work with you to make that dream come true.