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What types of mortgage loan products does Justice FCU offer?

April 26, 2017FCU Justice mortgage loan Offer products types

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What types of mortgage loan products does Justice FCU offer?

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Justice FCU offers residential mortgages to members who are buying or refinancing a home. We offer both conforming and jumbo conventional loans. A conforming loan is a loan that meets the lending guidelines of Fannie Mae and represents loan amounts established by the Economic Stimulus Act of 2008. Conventional loans that are too large to be purchased by Fannie Mae are called non-conforming or jumbo loans. Jumbo loans traditionally have higher interest rates than conforming loans. Jumbo loans also have higher down payment requirements. Justice FCU does not offer 100% financing on jumbo loans. Justice FCU only offers conventional loans. Justice FCU does not offer FHA or VA (government guaranteed loans). We offer both fixed rate and adjustable rate conventional loans on properties which are an owner occupied principal residence or owner-occupied second home.