FHA Home Loans
Your Path to Affordable Homeownership
Sound Credit Union understands that purchasing a home is a significant milestone. That’s why we are pleased to offer Federal Housing Administration (FHA) Home Loans.
Benefits of FHA Home Loans
Low Down Payment
With an FHA loan, you may be eligible for a down payment as low as 3.5% of the purchase price of the home. This can make homeownership more achievable, especially for first-time homebuyers.
Flexible Credit Requirements
FHA loans are more lenient when it comes to credit scores compared to conventional loans. If you have had past credit challenges, you may still qualify for an FHA loan, making homeownership a possibility.
Competitive Interest Rates
Sound Credit Union offers competitive interest rates for FHA Home Loans, helping you save money over the life of your mortgage. This can make a significant difference in your monthly payments and overall financial planning.
Eligibility Criteria
This program was established to make homeownership more accessible to a broader range of individuals, especially those with limited funds for a down payment and those with less than perfect credit.
What are FHA Home Loans?
An FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development (HUD).
In general, to qualify for a home loan, you must have a reliable source of income, a permissible debt-to-income ratio, a fair- to good credit score, and funds for a down payment.
Sound Credit Union offers home loans. Learn More »
A home loan, or mortgage, is a sum of money loaned to a borrower by the credit union (or bank) to buy a livable property, including a house, apartment, or condo.
Sound Credit Union offers home loans. Learn More »
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Disclosures
NMLS# 691150 · Equal Housing Opportunity
All loans require Sound membership and are subject to credit approval. Verification of income may be required. Must be 18 years of age to qualify for loan. APR is Annual Percentage Rate. Rate and offer subject to change at any time.
1FHA: Premium Mortgage Insurance (PMI) required for life of loan. VA: available to active duty military or qualifying veterans only.