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Home Loan Myths and the UW Credit Union Difference
You can feel reassured that the state of mortgage lending at UW Credit Union is strong, and we are a viable source for your home loan. Our lending practices are based on serving the member's loan need in a responsible manner that is in the best interest of both the member requesting the loan and all members of the credit union.
Here are a few myths in the marketplace and the UW Credit Union difference:
- You need at least 10% down to buy a home.
False. We have many home loan programs for borrowers who have less than 10% down. This includes the Zero Down loan for qualified members and FHA financing, which allows you to purchase a home with as little as 3% down.
- Only people with good credit can get loans.
False. We have lending programs available for members with varying credit histories. If a member has had financial difficulty in the past, but are on the path to recovery, we work to find a way to make a loan they can afford.