BECU Credit Union

At BECU, they have a wide variety of home loans that are perfect you. Whether you are buying the home of your dreams, a ‘starter’ home, or need to live in a community setting, they have loans that are tailored to your lifestyle. Today, home buyers like to have the security of knowing that they can make their monthly payments without having to struggle.

It is important to analyze your past credit history, current assets, current income, and potential income in order to determine which one of BECU Credit Union loans will work for you. BECU Credit Union loan consultants are here to offer advice and point you in the right financial direction. No one can predict the future, but you can plan for it.

Types of Mortgages Available Through BECU

• Fixed Loans – These loans have a fixed interest rate that will not change with national interest rate increases. You will have the security of knowing what your monthly payments will be.Fixed loans are available in 10, 15, 20, 30, and 40 years mortgage terms.

• Adjustable Rate Mortgages – These home loans will adjust as interests go up or down depending on the market. You do have the option of locking into a three to ten year fixed rate which would help you get established by having a regular monthly payment. This is a popular option for those who will be living in a home for ten years or less.

• Jumbo Loans – For when you need a home loan that is much larger than a traditional home loan. Many financial institutions cap off home loans at $417,000. But if you need a larger loan, they may be able to help.

• Construction Loans – If you are a member of BECU, you may qualify for a construction loan for your new home. While the home is being built, you will have the money to pay for the construction in increments that you request. Upon passing certain inspections, you will be able to draw from the account. You will have to make interest only payments during this time. Regular monthly mortgage payments will begin upon completion of your new home.

• Unique Loans – Unique loans are loans that are designed for those who may have credit problems, disabilities that require them to live in a community type setting, first time home buyers, and programs especially for teachers, firefighters, medical personnel, and law enforcement officers.

As you can see, they can help you with all your home loan needs. Visit BECU today and start planning for your future!

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