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ECU 100 Mortgage
Don't let a down payment get you down.
Features
Are you feeling overwhelmed by the amount required for a down payment on a mortgage loan? ECU has got you covered with the ECU 100 loan. This program is designed to eliminate some of the stress associated with a traditional mortgage loan by offering up to 100% financing, which means no down payment is required. We will be with you every step of the way, from the application process to the closing.
- Up to 100% financing available – even if you aren’t a First Time Home Buyer (purchases only)
- No Private Mortgage Insurance (PMI) required
- Fixed and adjustable-rate options available
Learn More
Calculators
Purchasing or refinancing a home can be stressful, leaving you asking lots of questions! Should you buy or rent? Will refinancing save you money? How much will your monthly payment be? Check out our calculators designed to answer these questions and more!
Compare Mortgages
With so many choices, how do you know which loan is right for you?
See the chart below to see the unique features of each. For additional information, please give us a call at 800-999-2328.
| Loan Type | Maximum Loan to Value | Term | Mortgage Insurance | Prepayment Penalty |
|---|---|---|---|---|
| Fixed & Adjustable Rate Mortgages | 97.00% | 15/20/30 year | Yes | No |
| Federal Housing Administration (FHA) | 96.50% | 15/30 year | Yes | No |
| USDA | 100.00% | 30 year | Yes | No |
| First Time Home Buyers Program | 105.00% | 30 year | No | No |
| ECU 100 Mortgage | 100.00% | 15/20/30 year | No | No |
| Veterans Administration (VA) | 100.00% | 30 Year | Yes | No |
| ECU Purchase Plus | 105.00% | 15/30 Year | No | No |
FAQs
- What is the ECU 100 Mortgage?
The ECU 100 Mortgage is a home loan designed to help buyers who are not first-time homebuyers with the costs of traditional expenses associated with a mortgage loan. This loan offers a no down payment option, no Private Mortgage Insurance (PMI) requirement, and up to 100% financing on the purchase price of the home. - What type of housing can I finance with the ECU 100 Mortgage?
With the ECU 100 Mortgage, the home must be an owner-occupied primary residence on a traditional stick-built, single-family dwelling home. - Are closing costs associated with the ECU 100 Mortgage?
Yes. There are closing costs with the ECU 100 Mortgage loan. Funds can come from flexible sources such as gift monies or a secured loan.