Cy-Fair FCU has partnered with Member Home Loan. 

Member Home Loan works exclusively with credit unions to serve as your convenient and competitive Mortgage Loan Lender, with experts who provide complete and up-to-date information helpful to save you both time & money.

Or Call MemberHomeLoan: 832.912.2142

Mortgage Type
Consider If
Details

Conventional Fixed Rate

30-Year & 15-YearFixedRate

  • Planning to stay in your home for a long time
  • Seeking a fixed mortgage
  • Have good credit history and good Debt To Income (DTI) ratio
  • Also ideal for those wishing to avoid PMI(requires a 20% downpayment to avoid)

  • Down payments as low as 3%
  • Avoid Mortgage insurance with a down payment of 20% or more.
  • Can be used for home you live in, a second home or investment property
  • Higher credit score required to qualify
  • Can fund higher purchase amounts

FHA

(Federal Housing Authority)

  • First time buyer
  • Lower credit score or little credit history
  • Have limited funds for a down payment or down payment will be covered via a gift from another source

  • Down payments as low as 3.5% for those with a credit score of 580 or higher
  • Mortgage insurance required regardless of the amount of down payment
  • Primary residence only
  • Lenient income and credit qualifications
  • Good interest rates

VA (Veterans Affairs)

30-Year & 15-Year Fixed Rate

  • Only available to eligible members of the armed services and surviving spouses
  • Limited funds for a down payment
  • Want to avoid paying PM

  • 100% financing(0% down payment)
  • No Mortgage Insurance
  • Lenient income and credit qualifications
  • Low Rates