UCCU Community Blog

Love Where you Bank, Trust Where you Bank

This content shows Simple View

Mortgage

More house. Same payment.

With UCCU’s low interest rates and mortgage insurance rates, you could qualify for up to 14% more house than you could with other local lenders! Here’s how:

LOWER INTEREST RATES
UCCU’s rates are just plain lower than the competition. An independent survey on 10/21/2016 of 30 lenders in our market showed that UCCU’s 30 year fixed rate mortgage was 0.375% lower than the group’s median interest rate.

LOWER MORTGAGE INSURANCE
When your down payment is less than 20%, you are typically required to pay for mortgage insurance. This can be a significant monthly expense that gets added into your payment. UCCU receives lower mortgage insurance rates than banks and mortgage companies, which can make a big difference in your monthly payment.

Call 801-223-7640 to speak to a mortgage expert today!

Share Button


Alternatives to Putting 20 Percent Down on a Home

blog_20down 2

Real Estate is said to be one of the best long term investments out there. If that’s the case, then why put off getting into a home? For some, it’s because there is a misunderstanding on what is required to buy a home. Below are a four loan types and their down-payment requirements.

Conventional
Many believe that 20% is required for this loan type, however,that isn’t true in most cases. By putting 20% down you won’t have to worry about mortgage insurance, and you would qualify for a lower rate. The minimum down payment required for this type of loan is actually just 5%. As for sourcing the funds, the full 5% down payment must come from the primary borrower.

FHA
This is a government backed loan. The minimum down payment required is 3.5%. Considering the nature of the loan, the down payment affects aspects of this loan less. Either way, you will be required to have mortgage insurance with an FHA loan. What’s the advantage to this loan then? The 3.5% can come as a gift from a relative, offering some flexibility on the savings.

VA
VA loans are done via the Department of Veterans Affairs, and allow veterans of the U.S. Armed Services access to programs other U.S. consumers do not. One such program is the no-money-down VA loan.

With 100% financing and accommodating underwriting standards, VA loans make approvals simple and offer lower rates than a comparable conventional mortgage. Additionally, VA loans require no mortgage insurance no matter how much you put down.

First Time Home Buyer

For those who qualify, there are special loan products that will allow up to 100% financing. Those loan requirements can vary by location, so we recommend getting in touch with your local mortgage loan officer to see if you qualify for 100% financing.

The easiest way to make sure you are getting the best type of loan for your situation is to sit down with one of our Mortgage Experts to help you get the home you want, at a price you can afford. You’re just a phone call away from reaching your dream of home-ownership. Visit your local branch or contact us by email at homeloans@uccu.com or by phone at 801-223-7640.

 

Share Button


President's Message April 2016

JeffSermon_2015

We are well into our 60 year celebration and many people are taking advantage of our Cash for You, Cash For Your School initiative. Don’t forget that for every loan you transfer to UCCU we will give you 0.5% cash back, as well as donate 0.5% cash back to the K-12 school of your choice. Tell your friends and neighbors and help support local education.

The Utah housing market is booming. There is significant demand for mortgage and construction services and consumers are continuing to build equity due to rising housing prices. With the growing population rate and the increasing demand for housing, appreciation rates have continued to rise and will likely continue to be favorable.

Trying to help your children get into their first home? It may be easier than you think. UCCU has our first time home buying program that takes the guesswork out of finding the home of your dreams.  UCCU offers support and resources to help you find the right loan product to suit your financial needs. Our BuyerRelax program offers access to mortgage experts who can answer any question – big or small.

It is our pleasure to serve you! We want to be your trusted financial partner now and into the future. Take full advantage of your membership by visiting with one of our financial experts. If you are not yet a member – become one and let the benefits of UCCU membership help you save money, make smart financial decisions, and propel you and your family closer to you financial goals and dreams.

Jeff's signature
Jeff Sermon
President/CEO

 

eNEWS_2016_01_promo1_v2

 

Share Button


Meet your Mortgage Loan Officer

Here at UCCU, we have been helping people buy their homes in our community for decades.  We have experienced home buying experts that will help you every step of the way through the home buying process.  When it comes to real estate, most people have a lot of questions, your mortgage loan officer can help with any question, big or small.

With over 50 mortgage programs offered through UCCU, it’s important to have a mortgage loan officer you can trust.  Our loan officers view each client as a unique individual, along with the value of understanding regulatory changes to ensure each client gets the best financial plan for them.  While everyone’s situation is different, your mortgage loan officer can help you find the perfect solutions to your mortgage loan needs.

We provide 3 easy steps to follow as you prepare to purchase your home:

Finding your price range

The key to finding the perfect home is to find the right price that fits your budget.  A home buying expert will help you determine your price range.  Online calculators may be convenient, but they may not tell the whole story.  Other questions may arise such as property taxes, homeowner’s insurance, etc.  Getting help from a home buying expert is a quick and easy process.

Shopping for your home

You’ve been looking for months for your dream home, but having some complications along the way?  Your home buying expert will help you find the home you’ve been dreaming of.  We have the right information that makes searching for you home simple and stress free.

Closing your loan 

Finally, you have found the right home for the right price!  But now gathering all your documents and getting your loan ready for final approval can feel overwhelming.  That’s why your home buying expert will be right by your side every step of the way.  From ordering a home appraisal to locking the lowest possible interest rate and seeking approval from an underwriter.  UCCU has full time underwriters, which is a huge advantage for home buyers.  Your home buying expert will even be there when you close your loan.

So relax!  Our home buying experts make the home buying process easy, simple, and stress free.  We have all the tools you need to purchase your home from start to finish.  So make your home buying experience a fun and pleasant one with your UCCU home buying expert!

Ready to get started?  Visit our UCCU Buyer Relax page to take your first step!

Ready to apply? Visit our Home Loan Center page to get started!

Click here to search for a Home Buying Expert near you!

For questions, please call 801-223-7640

HOme Buying relax

 

 

Share Button


5 Mortgage Shopping Tips

home

Buying a home is exciting but also stressful.  It requires research, patience, and time to find that perfect home you’ve been dreaming of.  What most people do not understand are the many options they can choose from when it comes to their mortgage loan.  Did you know there are just as many options for a mortgage loan as the houses you will be looking at? Here are 5 mortgage shopping tips you should consider before settling on your mortgage payment:

1. Talk to a mortgage professional

A mortgage professional can help you find the right price for the right home.  Here at Utah Community Credit Union, our mortgage loan officers will determine your price range and see if your credit score is ready for a mortgage and if not, we can help you improve your score and get you in the house that is right for you. Sure, online payment calculators are convenient, but do they tell the whole story?  Often times they leave out property taxes, homeowner’s insurance, HOA fees and other missing expenses.  At UCCU we have home buying experts at all 18 of our branches around Utah, Wasatch, and Juab counties ready to assist and answer all of your home buying questions.  So please come and visit us–it’s a quick and painless process!

2. Find which type of loan is best for you

There are dozens of different mortgage loan options to choose from. That’s why our mortgage professionals are available to help you find the right loan for you.  The three most common types of mortgage loans are:

  • Fixed Rate- Conventional

A fixed rate is exactly what it sounds like – a set interest rate that will not change over the life of the loan, which is usually 15, 20, or – most commonly – 30 years.

  • Adjustable-Rate (ARM) or Variable Rate:

Usually offers a lower initial interest rate that will fluctuate over the life of the loan, rising as interest rates rise. Hybrid adjustable-rate programs include fixed rate features  (i.e. 3/1, 5/1,  etc).

  • Federal Housing

Insured by the federal government, FHA loans often qualify buyers more flexibly than traditional fixed loans and only require a 3.5% down payment. Mortgage Insurance is required for all FHA loans.

3. Looking for the right home

Many questions arise when looking for the right home.  Do I need a real estate agent?  What kind of home am I looking for? Single family home? Condominium? Townhouse?  Having the right information is essential when purchasing your new home. That’s why at UCCU we can answer all of your questions and get you the help you need.

4. Avoid timing the market

You have finally found the right home, at the right price, in the right location.  Don’t hesitate, go for it! Many people often feel they need to chase a mortgage rate that is just a little better.  Mortgage rates are unpredictable, so if it’s the right place at the right time, why wait?

5. Closing your loan

So you have finally found the right home at the right price with the right loan.  Great!  The last step is closing your loan. Gathering all of your loan documents for final approval can be overwhelming, but don’t worry, our home buying experts will be there every step of the way. Our experts will guide you through everything from ordering a home appraisal, to locking your interest rate, and getting final approval for your underwriter.

Now you are ready to buy a home, congratulations!  It may seem like a complicated process, but at Utah Community Credit Union we can help you relax.

Visit our website UCCUrelax.com for videos, mortgage information, and steps to follow for the ideal home buying experience.

Share Button


Parade of Homes 2015

Gallery  Comment

Lehi Home

Each year, Utah Valley plays host to the Utah Valley Parade of Homes, a spectacular showcase of  homes throughout Utah County. This year’s event runs from now until June 20.

Utah Community Credit Union is proud to be financing two of the homes in this year’s Parade of Homes. These beautiful homes were built by Highland Custom Homes located in Utah County. Stop by either location (listed below) anytime during the Parade of Homes to speak with an experienced mortgage loan officer.

Highland Home11255 N Normandy Way

Lehi Home1318 E 3150 N

As your high-end mortgage dealer, UCCU has the tools to help you with your real estate needs. Current products include:

  • Possible tax advantages (consult a tax professional for details)
  • Flexible terms
  • No closing costs or annual maintenance fees
  • No hassle application and approval process

Visit Parade of Home’s website for more information about the event.

For more information about UCCU and getting financing for your construction project, visit uccu.com.

summer loan sale rates as low as 2.49% fixed apr click here to learn more

Share Button


Buyer Relax Auto: A Member's Experience

Gallery  Comment

Casey Paint

Learning how to get a good deal when buying a new or used car can require a lot of time and stress… but it doesn’t have to. Just ask UCCU member Casey Stevens.

“When I was ready to look for a car, I spent hours and hours doing research online,” said Casey. “By the time I went to the dealership, I still had a lot of questions, but I was just hoping I could drive away with the car I wanted at a fair price.”

Unfortunately, Casey walked out of the dealership without a car and even more questions.

“The dealership put together a financing deal for me,” he said, “but it felt wrong. I wasn’t sure why, but I knew I didn’t want to make a bad decision, so I left.”

Casey walked out of the dealership, across the street, and into his local UCCU branch. That’s when he met Amber, a UCCU Auto Buying Expert.

“Amber was awesome,” he said. “While she was answering my questions, she asked if I had heard of Buyer Relax.”

Buyer Relax is a free service from UCCU that can turn anyone into an auto-buying expert. When visiting UCCURelax.com, shoppers will find “10 Essential Car-Buying Tips” that can help them get the best deal on any vehicle. They can also check current rates and get pre-approved, right online, for the guaranteed lowest rate. There’s even “Buyer Relax Experts,” for anyone who needs (or would just prefer) to speak with a human being.

“It was so helpful,” he said. “Buyer Relax puts all of this positive and helpful information right in front of you, in a way that’s really easy to understand. It not only confirmed everything I had learned from hours of painstaking research, it even taught me a few important things I hadn’t been able to learn on my own.”

Before long, Casey had the car he wanted, a 2011 Mazda 3 Sport, along with a low rate on an auto loan from UCCU.

“I’m very happy with my car, “ Casey said. “I only wished I would have known about Buyer Relax sooner. It could have saved me a lot of time!”

Buyer Relax is available to everyone at UCCURelax.com.

Share Button


President's Message March 2015

Gallery  Comment

JeffSermon_2007_v26

Buyer Relax

We are all familiar with the phrase: buyer beware, but at UCCU we want you to be informed and confident when making big purchases. Last year the credit union provided a website with 10 of the best tips to know when buying a car.

A purchase even more complicated and the largest financial investment most people make is a home – so the credit union has provided this new, valuable resource to help guide you along to the path to home ownership. Visit UCCURelax.com to find all the support and information you need when purchasing a car or a home. And be sure to pass this information on to anyone you know.

Family Event: STEM Fest 2015

The credit union has teamed up major partners to provide the first ever STEM Festival to the community. STEM stands for Science, Technology, Engineering, and Math. The main goal of STEM is to get children excited about career opportunities in STEM related fields. Many companies in Utah are looking for qualified candidates with STEM related backgrounds and studies to fill their positions.

STEM Fest is a free event for families to bring their children of all ages to have fun, and get excited about science, technology, engineering, and math. It’s never too early for children to follow their passion and dreams.

UCCU is focused on our community and helping educate the leaders of tomorrow. Here at the credit union, we offer careers in technology and math, but no matter what career path is chosen one of the most important educational tools is learning how manage finances. I hope you will join us this month at STEM Fest!

Unleash your child’s curiosity, March 27th | 2 PM – 8PM @ the UCCU Center.

Thank you for being a member and help spread the benefits of membership to your friends and family.

 

Sincerely,

jeff's signature

Jeff Sermon
President/CEO
Utah Community Credit Union

 

Share Button


Mortgage Rates Have Dropped in 2015

ManRatePoster

2015 is a new year for everyone. Amid all of the New Year’s resolutions, many people are trying to save money and get more financially sound.

At UCCU we want to help you reach your goals. If you thought you missed the refinance windowthink again. Mortgage Rates have dropped! Call UCCU for a free mortgage analysis to see if a refinance might make sense for you. Any of our qualified Mortgage Loan professionals can help you calculate a mortgage rate that keeps your goals in mind while benefiting you the most. 

Visit any one of our 18 branch locations or call us at 801-223-7640 to find out how you can meet your financial goals this year

Share Button


Lower Your Home Equity Payment Today

Consolidate your debt into one loan with one low payment.

With UCCU’s new Low Payment Calculation, you can consolidate your debt into one loan and one really low payment! No-fee home equity lines of credit–with Low Payment Calculation–available right now at UCCU. Only 1.99% Fixed APR for nine months, then 3.74% Variable APR thereafter.

For more information visit uccu.com or call us at 801.223.7650

Share Button



top