FHA Loan | Collins Community Credit Union.
Collins Community Credit Union

FHA Loan

Designed to help individuals who may have difficulty qualifying for a conventional mortgage 

Insured by the Federal Housing Administration, FHA loans are designed to help individuals who may have difficulty qualifying for a conventional mortgage due to a lower credit score or lack of funds for a down payment. FHA loans offer a fixed interest rate, which may provide stability and predictability for borrowers over the life of the loan.

It's important to note that FHA loans do require mortgage insurance, which can increase the overall cost of the loan. However, the benefits of lower down payment and credit score requirements, fixed interest rates, and more flexible debt-to-income ratios can make an FHA loan a good option for many borrowers.

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Questions? If you are unsure about which type of mortgage is right for you, contact one of our loan officers before applying.


FHA loans offer several benefits, including:

Lower down payment requirements

Lower credit score requirements

 

 

Fixed interest rates

More flexible debt-to-income ratios

 

 

Assumable loans

¹Free online and Mobile banking

 

 

 


At Collins, we offer a variety of services to enhance your banking experience. Click here to view the full list of our services. 


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Important Legal Disclosures

Must meet membership eligibility requirements. *APR=Annual Percentage Rate. Must be or become a Collins Community CU member to obtain a loan. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans are subject to approval.  Federally Insured by NCUA.

¹Data and other wireless carrier charges may apply. 

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