mortgage loan options

United offers a variety of mortgage options tailored to your needs, whether you're buying, building or refinancing. Our mortgage advisors are here to help every step of the way. Explore our current specials and get started today!

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the United difference

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

In this day and age where every bank, credit union, and online site offers you comparable rates on mortgages, United offers you just a bit more. We're local, we're experienced, and we're here for you every step of the way.

Whether you're buying your first-home or building your dream home, our expert Local Mortgage Advisors are ready to find the loan that's best for your unique situation and offer expert advice. Let's get you one step closer to your dream home today!

Apply now online Find a mortgage advisor


mortgage loan 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.

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.

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.

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.

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 autopay from a Rewards Checking or Ultra Checking account7
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

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

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?

you bring the dreams

we'll bring the dollars

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further reading

Mortgage Preapproval

What is mortgage preapproval?

Advice Hub | 4/1/2023

Whether you’re looking for your first home or your dream home, it’s important to find out how much you can afford and what listing price you’re comfortable with.

Read Article

How to save for a home

Tips to save for mortgage down payment

Advice Hub | 2/14/2023

Saving for a down payment on a house can be the biggest obstacle first-time or repeat home buyers have to overcome.

Read Article

Should I buy a home when interest rates are high

Should I buy a home when interest rates are high?

Advice Hub | 12/27/2022

A high interest environment could work to your advantage

Read Article

Dreaming of building your dream home

Dreaming of building your next home?

Advice Hub | 9/20/2022

If you’re ready to move but just can’t find the perfect home in your area, chances are you’ve started dreaming of building your home.

Read Article

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