Finance your Ohio home without making a down payment
Take advantage of KEMBA Financial Credit Union's 100% financing, 7/1 Adjustable-Rate Mortgage (ARM) loan. This mortgage type enables you to finance the entire purchase price of your new home without making a down payment, giving you more purchasing power as you navigate the housing market. Click here for more details about the ARM loan.
- Reduce the up front expenses of buying a new home
- Skip forward to home ownership without years of saving for a down payment
- Use down payment savings for other expenses, such as moving costs
FAQs
What is the advantage of this loan type?
The borrower can finance the full purchase price of the home, eliminating the need for a down payment.
Do closing costs still apply?
Yes, standard closing costs apply.
Can I take advantage of this loan type on a rental property or second home?
No, it must be used on your primary, owner-occupied, residence.
Can I use this loan to refinance my home?
No, it is only available on new purchases.
What is the minimum credit score to qualify?
700 for this product.
What is the maximum loan amount?
$550,000
Does Private Mortgage Insurance (PMI) apply to this type of loan?
Yes, PMI is required.
What is an Adjustable-Rate Mortgage?
Click here for full details.