Whether you are a first-time home buyer, looking to refinance your existing home loan, or looking to purchase a new home, One Source FCU will be there to help you step by step. So, stop dreaming and start living in your new home. One Source Federal Credit Union will help you find the mortgage solution that works for your budget and lifestyle. One Source FCU offers mortgage loans for primary residence, or second homes in El Paso, TX and Las Cruces, NM.
- First Time Home Buyer Programs
- Low Down Payment Programs: flexible programs with zero to low down payments
- Low Credit Score Programs
- Conventional & Government loans FHA, VA & more
- Competitive Rates & Closing Costs
Click on the link below to start your application TODAY!
Conventional 10, 15, 20, 30 year fixed rate:
- A fixed-rate mortgage provides the borrower peace of mind knowing their monthly payment will be the same for the life of the loan. If you plan to stay in your home for many years and appreciate the convenience of a consistent mortgage payment regardless of the market, this could the perfect program for you!
FHA 15 and 30 year fixed rate
- The FHA loan is a great program for homebuyers that may not have exceptional credit, or are looking for a low down payment option with affordable terms. FHA features a down payment of just 3.5%, as well as flexible credit and qualification requirements.
VA (Veterans Administration) 15 and 30 year fixed rate
- The VA mortgage loan is a great program for Veterans, active service members, and other military personnel with a Certificate of Eligibility. VA loans are a fantastic option for eligible vets for a variety of reasons, including zero down payment and no PMI (Primary Mortgage Insurance). The VA loan also offers the most flexible credit and qualification requirements of any loan product.
- The Home Possible mortgage loan is a great option for first time homebuyers and borrowers with low-to-moderate income. The Home Possible program allows for new home purchases and rate and term refinances, with reduced mortgage insurance, flexible sources of funds for down payments, and flexible closing cost options.
- The HomeReady program is great for first time homebuyers and borrowers with little or no credit history. HomeReady is available with a variety of options designed to address some of the most common obstacles homebuyers face when purchasing a home.
- Options to help minimize or alternatively document cash for down payment and closing costs.
- More flexibility when qualifying for the minimum payment using your income
- Lower minimum credit score requirements than most mortgage programs
Adjustable Rate Mortgages (ARMs)
- We offer adjustable rate mortgage (ARM) loans with terms of 3, 5, 7 and 10 years. An adjustable-rate mortgage (ARM) provides the borrower with a lower initial payment, yet carries a degree of uncertainty. An adjustable-rate mortgage will temporarily lock into a rate at the time of closing. After the initial lock period ends, the rate will adjust for the remaining life of the loan, depending on market rates. Adjustable rate mortgages allow borrowers to take advantage of falling interest rates without refinancing, however they should always prepare for rates to increase as well. If you are considering a refinance or a move in the near future, an ARM loan may be a great option for you as the lower initial rates can offer a cheaper route for borrowers who don’t plan on staying in one place for long. Fixed-rate mortgages offer rate and payment security, but they can be more expensive over time. Personal preferences and unique situations will help to determine which type of loan is best for you.
One Source FCU NMLS ID: 1505224
Allowing you complete access to your mortgage loan. Click on the link below to start your application TODAY!