There's No Place Like Home
Let us make life a little easier during the mortgage process.
Whether you're in the market for your first place, a bigger place to raise your growing family, or a peaceful home to fit your retirement plans, Florida Credit Union has you covered with financing options.
Why Choose FCU for Mortgage Loans
As a full-service mortgage lender, Florida Credit Union caters to first-time homebuyers, current homeowners, and investors.
- Quick, convenient, customized home loans based on your needs
- All aspects of the loan process and decision are handled locally
- Fast local pre-approval decisions, online or by phone
- Assistance navigating the home buying process
- No waiting period required for bankruptcies, foreclosures, deed-in-lieu or short sales on portfolio loans
- $575 lender credit available through the FCU Local Heroes™ Program¹
FCU Mortgage Loan Features
- Up to $5,000 lender credit toward closing costs on portfolio loans²
- Competitive rates
- No down payment required on some loans
- No mortgage insurance on some loans
- No intangible taxes or prepayment penalty clauses on conventional loans
- Jumbo loans available
- $575 lender credit available through the FCU Local Heroes™ Program¹
Home Loan Options
FCU’s mortgage team will help you find a mortgage option that best suits you with the term you need and the monthly payment you can afford.
Fixed-Rate Mortgage³
A fixed interest rate means your principal and interest payment remain the same for the life of the mortgage. The most common terms are 30-year, 20-year or 15-year fixed rate mortgages.
Adjustable-Rate Mortgage (ARM)⁴
ARMs feature rates that will adjust periodically based on market conditions; however, the initial rate is typically lower than a fixed option. It's a good option if you plan to sell or refinance your house before the rate goes up.
FHA/USDA/VA - Backed Mortgages
Government-backed loans help make homeownership more affordable for many, including first-time home buyers, with lower down payment requirements and low or no closing costs.
Construction and Land Loans
One Loan, from construction through final permanent mortgage. FCU offers new construction loans to make your vision for a custom home a reality. FCU can help you finance the land as well.
Other Mortgage Loans
Florida Credit Union offers condo loans, manufactured homes with land loans and customized combo loans that mix mortgages and home equity loan options.
Why Should I Get Pre-Approved?
A pre-approval letter is a document that you can show sellers to demonstrate intent to purchase a home. Your pre-approval is based on factors such as credit history, household income, assets, debts, employment history and other financial information.
- Learn how much you can confidently offer when you find the right home
- Show your real estate agent and potential sellers that you're a serious buyer
- Complete the mortgage process more quickly once you find a home
- Pre-approval is good for 30 days. An extension can be requested
Mortgage Application Process
Before you start looking for a new home, discuss the features and benefits of the different programs you may be considering, then choose which is best for you.
Collaborate with your MLO and realtor to ensure the property type you’re interested in fits the specific program’s guidelines. Also discuss the impact of fees, taxes and insurance to the budget and pre-approval.
Once you’ve found your new home and the contract is signed, there are items within the contract that need to be completed for closing, including placing your formal application, signing your preliminary disclosures and more.
Finally, you’ll finish the formal process of completing your contract. After you sign the loan documents, and the ownership is transferred, you’ll get the keys!
Get Started Today
Mortgage Calculators
Mortgage FAQs
FCU doesn’t require documents upfront from borrowers in order to issue a preapproval letter. A completed mortgage application is needed in order for one of our loan officers to get you preapproved for a mortgage.
After you are preapproved, then the items on this checklist will be needed in order to proceed with the mortgage. These documents can be uploaded to our secured portal.
If you have any specific questions about your escrow account, please email Escrowinsurance@flcu.org.
DISCLOSURES
Home Mortgage Disclosure Act Notice
The HMDA data about our residential mortgage lending is available online for review. The data shows geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. This data is available online at the Consumer Financial Protection Bureau’s Website (www.consumerfinance.gov/data-research/hmda/). HMDA data for many other financial institutions is also available at this website.
Subject to credit approval. Monthly payment example for a 30-year fixed interest with no points and an estimates $4,000 closing cost: The payment on a $100,000 loan would be $606.92 per month at an interest rate of 6.75% and a 7.138% APR with a 360 month term.
1. "FCU Local Heroes™" lender credit program: Available to first responders, teachers, licensed medical professionals, and military personnel (active and veterans) for a purchase or no-cash back refinance, first portfolio and FNMA mortgage applications. Brokered loans are not eligible. This program offers a credit at closing of $575. Eligibility requirements apply. This offer is subject to change without notice. Other terms and conditions may apply. Available for new applications submitted on 1/1/2025 and forward.
2. $5,000 lender credit applies to loan purchases, not refinances.
3. Fixed-Rate First Mortgage- Terms are 10, 15, 20 and 30 years. Maximum loan amount is $766,550. Credit approval and other restrictions apply.
4. Adjustable Rate Mortgage (ARM) loan terms are 15, 20, and 30 years amortization. ARM rates are subject to change during term of loan. Maximum amount for conventional loan is $1,533,100. Jumbo loans-call for details.
The calculators found on this page are for information purposes only. While the results of the calculators may be generally accurate, the results do not reflect any specific credit union accounts, loans or other products or services and may not exactly match the calculation methods used by the credit union (or any third party) for accounts, loans or other products or services. These calculators should be used only for general informational purposes and should not be relied on for any specific transaction.