First-Time Buyer FHA Loan
Benefits of FHA loans
An FHA loan can unlock the door to your dream home. Our loans make owning a home possible for member-owners with evolving financial situations, whether you are a first-time buyer eager to step into homeownership or a seasoned homeowner seeking flexibility.
- Perfect for borrowers without a large cash down payment
- Suitable for both first-time homebuyers and repeat buyers
- Mortgage insurance protects both you and your lender
- Choose either a fixed rate or an adjustable rate
- Mortgage Loan Originator Information about Mortgage Loan Originator Information
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), requires credit union mortgage loan originators and their employing institutions as well as employees who act as mortgage loan originators to register with the Nationwide Mortgage Licensing System & Registry (NMLS), obtain a unique identifier, and maintain their registration in accordance with the requirements of the SAFE Act.
University Credit Union's registration is NMLS #409731, and our individual originators' names and registrations are as follows:
- Merisa Gates - NMLS ID #188870
- Estela Nagahashi - NMLS ID #1699957
- Miguel Olivares - NMLS ID #2068660
- Michelle Pacheco - NMLS ID #662822
- Britini Pender - NMLS ID #694308
- Sheri Sicka - NMLS ID #809498
- Elizabeth Torres - NMLS ID #1757889
- David L. Tuyo II - NMLS ID #1152000
Under the SAFE Act, consumers have easy access to information at no charge regarding mortgage loan originators via www.nmlsconsumeraccess.org.
- Mortgage Loan Servicing Information about Mortgage Loan Servicing Information
Content: Requests for information related to or resolution of an error or errors in connection with an existing mortgage loan must be made in writing via the U.S. mail to:
University Credit Union/TruHome
Member Service Department
9601 Legler Rd.
Lenexa, KS 66219Mortgage payments may be sent via U.S. mail to:
University Credit Union/TruHome
PO Box 219958
Kansas City, MO 64121-9958Contact TruHome by phone during business hours at:
855.699.5946
5 am - 6 pm PST Monday-Friday, 6 am - 11 am PST Saturday
Frequently asked questions
- What is an FHA loan? Click On What is an FHA loan? An FHA loan is a mortgage backed by the Federal Housing Administration, which acts as a guarantor to the lender for part of the loan’s amount. This makes it easier for lenders like University Credit Union to offer mortgages to homebuyers who have limited resources.
- What are University Credit Union’s FHA loan requirements? Click On What are University Credit Union’s FHA loan requirements? You must have a credit score of 580 or more to qualify for a 3.5% down payment. A score as low as 500 may still deem you eligible for an FHA loan if you meet standard debt-to-income ratio requirements.
- How do I apply for an FHA loan through University Credit Union? Click On How do I apply for an FHA loan through University Credit Union? Applying for a University Credit Union FHA mortgage is easy! You can submit an inquiry via our website, and one of our experienced mortgage loan originators will contact you with next steps. You can also begin the process by applying online.
- What’s the difference between an FHA loan and a conventional loan? Click On What’s the difference between an FHA loan and a conventional loan? A conventional loan may require a 20% down payment and have stricter credit score requirements than an FHA loan. FHA loans are backed by the government, making them accessible to those with limited savings or less-than-perfect credit.
- What’s the difference between USDA and FHA loans? Click On What’s the difference between USDA and FHA loans? USDA loans are designed to attract buyers to rural areas, requiring no down payment or private mortgage insurance (PMI). An FHA loan has more flexible eligibility criteria, appealing to a wider range of borrowers. This loan requires a 3.5% minimum down payment and PMI for the duration of the loan.
- What’s the difference between VA and FHA loans? Click On What’s the difference between VA and FHA loans? A VA loan is government-backed and exclusively available to eligible active and retired service members and surviving spouses. A down payment may or may not be required. Unlike FHA loans, no private mortgage insurance (PMI) is required for a VA loan.
- Does University Credit Union offer FHA loans? Click On Does University Credit Union offer FHA loans?
Yes, our FHA home loan program is easy to navigate with the help of one of our experienced mortgage loan originators. Contact us or apply online to get started down the path to homeownership today.
University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, The Big West Universities, Western Athletic Conference Universities, Southland Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.