mortgage loan options

limited-time special

3/1 adjustable rate mortgage

as low as 5.99% interest rate⁸ and 6.03% APR⁸

mortgage loan options

Home Possible^® Loan

options & eligible for

FRM
Primary Residence
As low as 3% Down Payment⁴
Cancel mortgage insurance when eligible

ideal for

Members who are first time or repeat home buyers, meet a range of life situations, and are looking for a low down payment and flexible credit score requirements. Members can cancel mortgage insurance when eligible to reduce the monthly mortgage payment and potentially save thousands over the life of the loan.

HomeReady® Loan

options & eligible for

FRM
Primary Residence
As Low As 3% Down Payment⁴
Reduced MI Coverage

ideal for

Members who are first time or repeat home buyers who are looking for flexible funding options to put towards their down payment and closing costs with no personal funds required. With reduced mortgage insurance required, this loan comes with additional affordable mortgage insurance options.

Conventional Loan

Standard home mortgage loan.

options & eligible for

FRM
3/1 ARM
5/1 ARM
7/1 ARM
Primary Residence
Second Home
Investment Property

ideal for

Members who have a variety of credit characteristics allowing for competitive solutions to purchase or refinance a home.

0% Down¹ No PMI Loan

options & eligible for

FRM
Primary Residence
0% Down Payment¹
no PMI

ideal for

Members who have good credit but don't have the liquidity to pay a down payment and would like to avoid paying PMI in exchange for a slightly higher interest rate.

0% Down Loan¹

options & eligible for

FRM
5/1 ARM
7/1 ARM
Primary Residence
Non-conforming
0% Down Payment¹

ideal for

Members who don’t have a lot of equity in a home they currently own or don’t have a lot of funds available for a down payment to purchase a home.

Medical Professionals Loan

options & eligible for

FRM
3/1 ARM
5/1 ARM
7/1 ARM
Primary Residence
No PMI
0% Down Payment¹
Student Debt Not Included in DTI

ideal for

Members with the following licensed credentials are eligible for this loan are Physicians with MD, DO, and DPM; as well as titles Dentist, Chiropractor, Veterinarian, Physician's Assistant, Nurse Practitioner, and Nurse Anesthetist.

If you are in the field of medicine, but don't see your title listed here, contact us for customized loan options to help serve your needs.

Lot Loan

options & eligible for

FRM
20% down⁵
10-year Term
3 year balloon
5 year balloon

ideal for

Members who want to purchase a lot intended for a residential build, but don’t plan on building for several years. Choose from a variety of terms to fit your financial goals.

Construction-Only Loan

options & eligible for

FRM
Primary Residence
Second Home
95% LTV

ideal for

Members who want to finance only the construction phase of their home. This loan can be used to purchase the lot from a builder with the intention of building right away. Once the build is complete, you may apply for a permanent mortgage loan.

Construction-to-Permanent Loan

options & eligible for

FRM
5/1 ARM
7/1 ARM
Primary Residence
Second Home
90% LTV

ideal for

Members who are interested in financing the construction phase and permanent mortgage in one transaction from the same lender. Once your home is built, your construction loan will become your permanent mortgage without paying two sets of closing costs.

Investment Property Balloon Loan

options & eligible for

FRM
Investment Property
Non-conforming

ideal for

The 15/30 balloon product is great for members who want to finance an investment property and experience the benefit of a smaller payment comparable to a 30 year loan payment.⁶

Jumbo Loan

options & eligible for

FRM
ARM
Primary Residence
Second Home
Non-conforming

ideal for

Members who are financing a purchase or a refinance for an amount exceeding the conforming limit of $766,550 established by the Federal Housing Finance Agency (FHFA).

FHA

Insured by the Federal Housing Administration.

options & eligible for

FRM
Primary Residence
Specialty Loan
As Low As 3.5% Down Payment⁴

ideal for

Members who are first-time home buyers or have little savings and credit challenges.

Rural Development

Insured by the Dept. of Agriculture.

options & eligible for

FRM
Primary Residence
New Construction
Specialty Loan
0% Down Payment¹
No Max. Purchase Price
30-year Term¹

ideal for

Members who demonstrate an economic need and are interested in purchasing a home in a rural area as defined by the USDA’s eligibility requirements.

VA

Backed by the Dept. of Veterans Affairs.

options & eligible for

FRM
Primary Residence
Specialty Loan
0% Down Payment¹
No MI

ideal for

Members who are actively serving in the military, Veterans and spouses of service members who have deceased in the line of duty.

Relocation Loan Program

options & eligible for

FRM
5/1 ARM
7/1 ARM
Primary Residence

ideal for

Members who meet the following requirements are be eligible for this loan program: Relocating due to an executed employment agreement with a relocation benefits package offered by their current or future employer, relocating to the United States from another country, and must be relocating within 24 months of the loan application date.

Talk to Us

There are many options for mortgages. The possibilities are endless!

Not sure which one to go with, or can’t find one that fits your needs? Don’t worry! Talk with one of our mortgage advisors today and we’ll help you find the perfect fit for your needs.

Find a Mortgage Advisor

Table Glossary

An adjustable mortgage has an initial interest rate that is fixed for a specific period of time, followed by an adjustable interest rate that can increase or decrease over the remaining life of the loan, based on certain market conditions. United offers two adjustable-rate mortgages (ARM)

5/1 ARM: The first 5 five years are a fixed interest rate. Afterwards, the rate is adjusted once a year.
7/1 ARM: The first 7 seven years are a fixed interest rate. Afterwards, the rate is adjusted once a year.

This is a good choice if you plan to move before the end of the introductory fixed-rate period, want an initial monthly payment lower than a fixed-rate mortgage usually offers, or think interest rates may go down in the future.

Conventional financing are mortgage loans that are not backed or insured by the government. Of conventional loans, they can be either conforming or non-conforming.

Conforming is a loan that abides by Fannie Mae and Freddie Mac guidelines, two government-sponsored enterprises. Non-conforming, likewise, is a loan that does not abide by Fannie Mae and Freddie Mac guidelines.

A down payment is an initial up-front partial payment for the purchase of the property. It is money that you physically have at your disposal, it is not borrowed.

DTI stands for debt-to-income ratio. To calculate, add up all your monthly debt payments and divide them by your gross monthly income.

A fixed-rate mortgage is a fully amortizing mortgage loan where the interest rate remains the same for the life of the loan. In other words, your total monthly payment of principal and interest will remain the same over time. This is a good choice if you think interest rates could rise in the next few years, plan to stay in your home for many years, or prefer the stability of a fixed monthly payment.

Investment property is generally property that you, personally, do not live. This is for property you intend to use to generate income by renting, appreciating value, or other means.

LTV stands for loan-to-value ratio. It is the term to represent the ratio of the mortgage loan as a percentage of the total appraised value of the real property.

Property that will be your main home in which you live most the year, receive mail, and is reasonably close to where you work.

(P)MI stands for (private) mortgage insurance. Mortgage insurance is typically required if you are borrowing a large percentage, usually over 80%, of the property’s value. With United, you can potentially get 100% financing with no PMI.¹

A home you live in for some part of the year. Unlike a primary residence, you do not have to live there for most of the year or be close to your work. A second home is intended for personal use.

Specialty financing are loans offered or secured by a government entity.

mortgage loans in a snapshot

Here's a quick overview of what mortgage loans from United offers. Don't think you'll qualify? Reach out to United and discuss your options. We will fit your needs into the perfect mortgage option for you.

competitive rates

flexible repayment terms up to 360 months¹

borrow up to 100% of the property's value

easy to apply online, on the phone, or in person

discount with autopay⁷ from a Rewards Checking or Ultra Checking account¹

100% financing with no PMI available¹

loans offered for nearly every state²

make payments at any branch location³

experienced Mortgage Advisors to help you

option to roll-in closing costs into loan

what properties we cover

Single Family Planned Unit Developments (PUDs) 2-4 Unit Multi-Family Dwellings Condominiums Modular Homes Manufactured Homes Proposed Construction Townhomes Vacant Land / Lots

Apply Online See Mortgage Rates

refi

‘Re-do’ with a refi from United.

Simply put, a refi will give you a chance to replace your current mortgage with a new one based on the current market and your current finances.

the best time to refi

The best time to refi may be when

interest rates are at least 1% lower than your current mortgage
your credit profile has improved
you need funds to deal with a financial emergency, finance a large purchase, or consolidate debt
you plan to stay living in your current home long enough to recoup the costs of refinancing

Apply Online

the benefits of refi

Refinancing can potentially

lower your monthly mortgage payment
pay off your mortgage faster with a shorter term
allow you to switch from an adjustable-rate to a fixed-rate, or vice-versa
obtain a lower interest rate
provide cash for paying debt and home improvements
get rid of PMI if you have more than 20% equity in your home
obtain 100% financing with no PMI

See Refi Rates

how much home can I afford?

which mortgage option is best?

what will my payment be?

should I pay discount points?

what is the LTV ratio of my home?

should I refinance my home?

should I make extra payments on my mortgage?

still not sure?

Reach out to us if you are still not sure about going forward with a mortgage loan.

Find a Mortgage Advisor Ask a Question (800) 777-1627

[1] Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions, available on new mortgage applications. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32 . Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. Certain restrictions apply.

[2] Excludes Alaska, Hawaii, and Texas.

[3] Excludes locations that are specified as Commercial Loan Offices.

[4] Payment example, $258,750 retail value of property with 3.5% down amounts to financing $250,000 financed for 360 months at an adjustable rate of 6.421% APR equals a monthly payment of $1,539.29. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Rate may be increased after consummation.

[5] 20% down is for well-qualified borrowers.

[6] Payment example, $250,000 financed for 15 year term / 30 amortization schedule balloon at 7.922% equals a monthly payment of $1,812.67 for 15 years. If only the minimum monthly payment is made, at the end of the 15 year term, a minimum $191,120.78. balloon payment is due.

[7] 0.125% rate discount available to applicants who register, before loan closing, to have their mortgage payment automatically deducted from a United Rewards or Ultra Checking account each month. Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. Certain restrictions apply. For well qualified buyers

[8] APR=Annual Percentage Rate. Limited-time rate as low as 5.99% available on 3/1 adjustable rate mortgages (ARM) closed after May 28, 2024. Rate and terms subject to change at any time. Loan subject to credit and collateral approval as well as program terms and conditions. Payment example, $250,000 financed for 3 year term ARM at 5.99% equals a monthly payment of $1,497.27 for 3 years. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. 3-year fixed-to-adjustable rate: Initial 5.99% rate is fixed for 3 years, then becomes variable based on an index and margin. Rate may be increased after consummation. Rate includes a .125% discount available to applicants who register, prior to close, to have their mortgage payment automatically deducted from a United Rewards or Ultra Checking account each month.

[9] For qualified borrowers financing through the HomeReady and Home Possible loans. Certain terms and conditions apply. Loan must meet certain requirements for future PMI cancellation. Visit fanniemae.com/homeready and freddiemac.com/homepossible for more information.

Deposits

Loans

Cards

Mortgages

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mortgage loan options

limited-time special

3/1 adjustable rate mortgage

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the United difference

We've been rolling out the welcome mat since 1949.

$2,500 homebuyer credit9

3/1 adjustable rate mortgage

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