Home Financing Options
Make your homeownership dreams a reality with our comprehensive home financing options. Whether you're a first-time buyer or looking to upgrade, we offer a range of solutions to help you secure your ideal property.
Your Path to Homeownership Starts Here
At WFCU Credit Tech, we understand that purchasing a home is one of the most significant financial decisions you'll make. That's why we've designed our home financing options to be flexible, transparent, and tailored to your unique situation.
Our team of knowledgeable advisors is committed to walking you through every step of the application process, ensuring you understand all available options and feel confident in your decisions.
Our Home Financing Solutions
First-Time Homebuyer Programs
Specially designed for those taking their first step into homeownership. We offer competitive rates, lower down payment options, and educational resources to help you navigate the process with confidence.
- Down payments as low as 3%
- Flexible credit requirements
- First-time buyer education workshops
- Personalized guidance throughout the process
Fixed-Rate Mortgages
Enjoy the stability and predictability of a fixed interest rate throughout the life of your loan. Perfect for those who value consistent monthly payments and long-term financial planning.
- 15, 20, and 30-year term options
- Locked-in interest rates
- Predictable monthly payments
- Protection from market fluctuations
Adjustable-Rate Mortgages
Take advantage of lower initial rates with our adjustable-rate mortgage options. Ideal for buyers who plan to move or refinance within a few years, or those expecting income growth.
- Lower initial interest rates
- 5/1, 7/1, and 10/1 ARM options
- Rate caps for protection
- Potential for lower payments initially
Refinancing Options
Already own a home? Our refinancing solutions can help you lower your monthly payments, reduce your interest rate, or tap into your home's equity for other financial needs.
- Rate and term refinancing
- Cash-out refinancing options
- Streamlined application process
- Potential to eliminate PMI
Understanding the Application Process
We believe in transparency and education. Our advisors will guide you through each stage of the mortgage application process, explaining terminology, requirements, and timelines in clear, understandable language.
From pre-qualification to closing, we're with you every step of the way, answering questions and providing the support you need to make informed decisions about your home financing.
What You Need to Know
Required Documentation
Proof of income, employment verification, tax returns, bank statements, and identification documents are typically needed for your application.
Credit Considerations
Your credit score, debt-to-income ratio, and payment history all play important roles in determining your eligibility and interest rates.
Timeline Expectations
The typical mortgage process takes 30-45 days from application to closing, though timelines can vary based on individual circumstances.
Get Pre-Qualified Today
Pre-qualification is a crucial first step in your home buying journey. It gives you a clear understanding of how much you can afford and shows sellers that you're a serious buyer.
Our streamlined pre-qualification process is quick and easy, often providing results within 24 hours. This puts you in a stronger position when making offers and helps you shop for homes within your budget.
Benefits of Pre-Qualification:Know your budget, strengthen your offers, speed up the closing process, and gain negotiating power in competitive markets.
Understanding Your Terms
Interest Rates
Your interest rate is the cost of borrowing money, expressed as a percentage. It significantly impacts your monthly payment and the total amount you'll pay over the life of the loan. Rates vary based on market conditions, your credit profile, loan type, and down payment amount.
We'll help you understand current rate trends and lock in a competitive rate when the time is right for your situation.
Loan Terms
The loan term is the length of time you have to repay your mortgage. Common terms include 15, 20, and 30 years. Shorter terms typically have higher monthly payments but lower total interest costs, while longer terms offer lower monthly payments but higher overall interest.
Our advisors will help you choose a term that aligns with your financial goals and monthly budget.
Down Payments
Your down payment is the upfront amount you pay toward the home's purchase price. While traditional advice suggests 20%, many programs allow for lower down payments, sometimes as little as 3%. A larger down payment can result in better interest rates and lower monthly payments.
We'll discuss down payment options that work within your financial situation and help you understand the trade-offs.
Closing Costs
Closing costs are fees associated with finalizing your mortgage, typically ranging from 2-5% of the loan amount. These include appraisal fees, title insurance, origination fees, and other administrative costs. Understanding these expenses helps you budget accurately for your home purchase.
We provide detailed estimates upfront so there are no surprises at closing.
Why Choose WFCU Credit Tech for Your Home Financing?
Expert Guidance
Knowledgeable advisors with years of experience
Competitive Rates
Access to attractive interest rates and terms
Fast Processing
Streamlined application and approval process
Personalized Service
Solutions tailored to your unique situation