Access to Government Loans
myCUmortgage, through our credit union owner, Wright-Patt Credit Union, Inc., is qualified to offer many types of government-backed loans, making it easier to qualify your members for mortgage loans, while offering more attractive interest rates.
A "government-backed loan" doesn't mean the government makes a loan directly to your member. Instead, your member obtains a loan from your credit union, and the government guarantees that your member will make the payments. We make it easier for your credit union to offer the member better loan terms.
The following are a list of government-backed loans that myCUmortgage provides:
Fannie Mae – a leader in providing home financing solutions and purchasing loans on the secondary market to create liquidity and reduce interest rate risk for borrowers. More Info >>
FHA – provides lenders with insurance protection against losses as the result of homeowners defaulting on their mortgage loans. More Info >>
VA – supplies home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment. More Info >>
USDA – agrees to guarantee a loan for rural families and individuals with low and moderate-income, assisting in qualifying the borrower for mortgages even without a down payment. More Info >>