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Mortgage FAQs


Find answers to the most commonly asked questions surrounding mortgages.

 

While every mortgage is slightly different, there are a few things you should have on hand when completing your mortgage application.

1. 30 days of your most recent paystubs

2. Your most recent W2

3. Your most recent Bank Statement(s)

Ideally, 20% is a good starting point for a down payment. However, UMCU is able to offer mortgages for as little as 3%* down! Be sure to ask your mortgage loan officer what is best for your budget!
Yes! UMCU's financial wellness team hosts in-person workshops and online webinars on the home buying process, tips for first-time home buyers, and more!

Check out the upcoming schedule here!









Disclaimer:

Insured by NCUA

*Offer of 3.00% down is available for conventional fixed-rate mortgages on single family homes. 97% maximum loan-to-value. Maximum loan amount $766,550. Loan subject to credit approval, normal credit standards apply. Additional limitations, terms and conditions apply and are subject to change without notice. Property insurance required. Flood insurance may be required. Contact UMCU for more information about credit costs and terms. NLMS #712343