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Mortgage

COVID-19 is still having an impact on daily business operations.

Below are some areas we are experiencing delays... 

  • Application responses could be delayed 48-72 hours
  • We are experiencing longer than usual turn-around time when working with government offices. This is affecting the ability to process titles, recording, payoffs, etc. in a timely manner. If you have specific questions regarding a payoff, please email [email protected]
  • Refinancing could take approximately 65 days, Purchases could take approximately 45 days

We appreciate your patience.


Now Accepting Applications in ALL 50 STATES!*

USSFCU offers mortgage purchase and refinancing options for primary and secondary residences, vacation homes and investment properties. 

Let us help make your dream home a reality. USSFCU’s in-house mortgage loan team is here to assist you with the mortgage or refinancing process. USSFCU Mortgage Loan options include: 

  • Repayment options including 30, 25, 20, 15, and 10-year terms;
  • A variety of mortgage loan types including Conventional, FHA and VA;
  • Low down payment options
  • Complimentary pre-approval for qualifying applicants

Refinance to potentially lower your rate. Is your current interest rate higher than what is currently available in the market? We may be able to help you find a lower interest rate and reduce your monthly loan payments.

Contact our Dream Team For More Information Today! 

* Only conventional loans are available in all 50 states. Other mortgage loan types have limited availability state to state. Contact 1-800-231-8855 to find out if the mortgage loan type you are looking for is available in your state. Mortgage refinancing is not available in the state of Texas, purchase only. We do not offer CEMA transactions in the state of New York.

RATES

Not all home loans are the same. The loan type you choose will affect how much you will need for a down payment, the total cost of your loan, and the house price range you can consider. Each loan is designed for different situations. Sometimes, only one loan type will fit your situation. If multiple options fit your situation, let’s talk through different scenarios so you can see which type is the best offer for you.

Conventional Loan an option for buyers with good credit

A majority of mortgages are conventional loans. Conventional means that the loan is not part of a specific government program. Conventional loans can cost less than FHA loans but can be more difficult to get.

  • Lower closing costs
  • No private MI for 20% or more down payment
  • 5% down payment option (can be gifted funds if credit score is 660 or higher)
  • 6% seller contribution maximum allowed with 90% loan-to value (LTV) maximum
  • 3% seller contribution allowed with LTV of 90% or higher

FHA Loan an option for buyers with limited funds

An FHA Loan is a mortgage that's insured by the Federal Housing Administration. For borrowers with lower credit scores or a smaller down payment, FHA loans can be a practical option. With down payment requirements as low as 3.5%, FHA loans are especially popular with first-time home buyers.

  • Only a 3.5% down payment is required
  • Non-occupying co-borrowers allowed
  • Down payment can be a gift or loan to the borrower from an eligible source, such as a family member or a state housing agency program.

HomeReady® by Fannie Mae an option for modern buyers.

With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts and grants—with no minimum personal funds required.

  • Non-traditional credit allowed1
  • Down payment options as low as 3%2
  • Reduced mortgage insurance with the opportunity to cancel3
  • Various forms of income accepted for down payments and closing costs—including gifts and grants4

VA Loan an option for active and retired military and their spouses.

To be eligible for a VA loan, you must have sufficient entitlement available and be a(n): veteran (single or married), active duty service member, National Guard member, reserve member, or surviving spouse of an eligible veteran (certain restrictions apply).

  • 100% financing
  • Seller of a home can pay closing costs: up to 2 discount points, the prepaids, and an additional 4% (toward the buyers discretion)
  • No monthly mortgage insurance required
  • Buyers can add up to $6,000 to their VA loan to have energy-efficient improvements installed

All loan programs, rates, terms, and conditions are subject to change at any time without notice. Restrictions apply. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend.

1 A minimum of three sources of nontraditional credit are required for HomeReady loans. If a borrower does not have a housing-related source of credit, a minimum 12 months’ of reserves may be required. Restrictions apply.  Financing up to 97% loan-to-value (LTV) can use any fixed-rate term (10-, 15-, 20-, 30-year). Other loan program restrictions may apply. 3 A minimum of 20% established home equity required before borrower is eligible to terminate MI. Other restrictions apply. Standard MI coverage is required on HomeReady® loans with LTV ratios at or below 90 percent, and 25 percent coverage is required for LTV ratios exceeding 90 percent. 4 Restrictions apply. HomeReady® loans are serviced under the requirements for all other Fannie Mae non-government conventional mortgage loans. All eligibility criteria and requirements are subject to the formal terms and conditions of the Fannie Mae Selling Guide, located at https://www.fanniemae.com.

The more you know about the home buying and mortgage process, the more confident you'll feel about making these important decisions that will shape your future. 

First Time Home Buyer Buying your first home is a big step, but it doesn't have to be a scary one. The first time home buyer guide will give you an overview of the home buying process as well as access to various prequalification and payment calculators.

Buying Already own a home but looking for a bigger space? Take the time to choose wisely. Here are some ideas to think about as you begin your search.

Refinancing Wondering if refinancing is right for you?  Here you'll find the information and tools you need to make the choice thats right for you. 

Loan Programs Overwhelmed by your options? You don't have to be. This will give you an overview of fixed-rate vs. adjustable rate and the different types of mortgages available within each category (15 yr., 30 yr., 5/1 ARM, 7/1 ARM, etc.).

Interest Rate Income Qualifier View your potential mortgage interest rate based on your yearly income.

Mortgage Glossary View a listing of commonly used mortgage terms.

Prepare yourself with these insights on mortgages, including the different types and key steps of the process you should be familiar with.

Start Learning

 

All loans subject to credit approval. For more information on loan programs, rates, terms and conditions visit ussfcu.org/rates. All loan programs, rates, terms and conditions are subject to change at any time without notice. Not all members who apply for a USSFCU Mortgage Loan will be accepted.

The United States Senate Federal Credit Union complies with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). A list of our registered originators can be found by searching for the United States Senate Federal Credit Union here.

As a member of the MBa, we join the leading advocate for the real estate finance industry. The MBA provides USSFCU a comprehensive array of capabilities and tools that enable us to successfully deliver fair, sustainable and responsible real estate financing to our members and businesses.

The HMDA data about our residential mortgage lending are available online for review. The data shows the geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. These data are available online at the Consumer Financial Protection Bureau's Web site (www.consumerfinance.gov/hmda). HMDA data for many other financial institutions are also available on the previously referenced website.

It's your staff that make us keep coming back for years and years.

Thank you for letting all of us be a part of your celebration - Happy 85!

USSFCU makes me feel more appreciated than any bank I've had before and helps me save for my future home.

USSFCU Happy 85!!! Best banking and customer service since I was 12. Thank you!

Happy Anniversary to an institution that has become part of our family! Thank you for everything!

Happy Anniversary, thank you for helping retirees with better rates.

Happy Anniversary and thanks to all employees for always being friendly and providing great service.

It's your 85th anniversary, and it's my birthday month - Happy Anniversary to you and Happy Birthday to me!!!

I really enjoy USSFCU's great customer service! They are always so helpful when I call or visit a branch and make my banking experience easy and enjoyable. Thank you!

Congratulations on your 85th year! Thank you for being the best credit union in the business.

Happy 85th Anniversary! I've been a member for 27 years and have always appreciated the great rates and service. Here's to at least 85 more years...

I was referred to USSFCU when I was building my swimming pool. This is the first banking experience that I have had in 48 years that has been so pleasant. USSFCU is the best and the ease of utilizing them for your banking needs is a MUST! Happy Anniversary and MANY MANY MORE!

Happy 85th Anniversary USSFCU and thank you for providing the services that you do as you helped my family to fulfill a dream that we had and it is certainly appreciated.

Happy Anniversary! Much to be proud of... especially the customer service.

When I joined in 1992, I was young and didn't have much financial wherewithal. Over the years, when I've needed a loan, you've helped me out. When I had extra money not doing anything in a savings account, a representative reached out to me to open a money market account. When I bought my first car, you gave me that loan. You've helped me on my fin...

Happy 85th Anniversary! Thank you for providing such great service to all of us who have worked for the U.S. Senate. Having a credit union devoted to our financial care is appreciated. Here's to 85 additional years!!

Happy Anniversary, USSFCU! I have been a proud member since 1993 when I opened my account upon getting my first job out of college in the Architect of the Capitol Curator's Office. Thank you for your service! It's been a great banking experience for me for 27 years.

Happy anniversary! I'm a 20 year member -- I've had/have numerous loans and have always had a great experience working with your staff.

Happy 85th Anniversary. I have been a member for 27 years. I have had nothing but success with my financial goals as a member of USSFCU. Thanks so much!

I joined USSFCU in 1993. I had just started a job as Executive Assistant to a U.S. Senator and being a Black Woman, I felt intimidated and not always accepted in the Senate environment. The one place I felt truly welcomed and comfortable was in the credit union. The staff was professional, courteous and made me feel at home the minute I walked in ...

I am so grateful to be apart of the USSFCU family. I have received outstanding service and am very glad I decided to join this credit union.

Happy 85th to USSFCU!! Thanks for everything! Here's to 85 more years!

Happy 85 years! May your operations continue to flourish!

The USSFCU has been great. I signed up my 2 sons and they have been able use the banking services for their higher education.

Happy 85th from a 53-year member. I remember when the credit union was located adjacent to the barbershop in the basement of the Old Senate Office Building. Great service then! Great service now!

I work in-state but your agency has made it so easy to do business with in many ways. I have a VISA, checking, savings etc. with you and even when I call from Ohio, everyone is so helpful and eager to help. Thank you and Happy Anniversary.

My 38th year as a USSFCU member! I love the personalized service and your kindness over the years. Happy 85th Anniversary!

My first job in Washington was at NRSC which came with Senate FCU privileges. That was in 1989 - I left DC in 1995 and to this day I love the reaction when people see the senate emblem on my credit card and checks.

I joined right after college after accepting my fist job in the USS; now 26 years later, I'm still a member and so happy with your products and service! Congratulations on 85 years of doing right by your members!

As a member of USSFCU since 1967, I can remember when it consisted of one room in the basement of the Russell Building. Congratulations!

Happy 85th! You don't look a day over 30.

Thanks for the great service members receive every day. Happy anniversary.

I have been a member of USSFCU for sixty years and it is still my financial institution of choice. Their service is exceptional and their staff is friendly and helpful.

I was a senate page and messenger for the sergeant of arms when I was 15. 43 years later I'm still a member. I could find no better place to bank despite overseas military serves. Simper Fi! Works here also.

Happy 85th Anniversary USSFCU. I have been a member since I began working for Senator Alan Cranston (Democrat from California) in 1982. Although, I left the Senate when Senator Cranston left office, I have remained a member of the United States Senate Federal Credit to this day. I have had nothing but positive service from USSFCU and will continue ...

More than 20 years with the USSFCU. I am grateful for their friendship. Happy Anniversary!

Happy anniversary! I feel safe and secure banking with my USSFCU family.

Happy anniversary! The wife and I are so happy to be members.

Happy Anniversary! Keep adding value to the great banking services provided to make peoples' lives better.

Happy Anniversary! Thank you for all you've done for our family over the past 3 years.

Congrats!! This is the first credit Union I've ever joined and my experience so far has been fantastic!! From everyday help with new cards, to recently adding my new wife to our account after our wedding on 9/27! Thank you for all of you do!! Looking forward to another 85 years!

It's hard to believe how much we've been through since we got together in 1972- two children with accounts, cars, home improvements. I don't know what I would have done without you.

Happy Anniversary to our wonderful family! Wishing you many more years of accomplishments!

Happy Anniversary to USSFCU! I have been a member since 1982. I only worked in the Senate for one year but I'd never give up my membership in the USSFCU! Here's to at least 85 more years!!

My 85 year old mom was born on October 8, 1935... exactly when USSFCU was founded! How's that for karma!!

Happy anniversary United States Senate Federal Credit Union. I love my credit union and the great rates with Visa and car loans. Hoping to refinance my home soon with y'all. My birthday is October 8 and I'll be 57, to think that USSFCU was already 28 years old when I was born. That's amazing keep the good work up.

Thank to the entire USSFCU Team. My every interaction with all of you has been kind and efficient. I appreciate all our your efforts to make our days a little easier and brighter!

Congratulations to USSFCU for 85 years of service...I joined when the Credit Union was just a room in the basement of the Russell Building nearly 50 years ago.

Congratulations Senate Federal Credit Union on celebrating 85 years! I have been blessed to be a member since 1998! I also had the great honor and pleasure to support the Hart Branch of the USSFCU while an employee of the Senate Sergeant at Arms Operations Division! The Hart Branch of the USSFCU has the kindest, friendliest, most professional emplo...

I started in the Senate in 1977. I was in need of a car and had just a few hundred dollars to my name since coming from Minnesota. My boss told me about the Credit Union and walked me over to the Russell building and introduced me to Virginia P. where I joined and she gave me a loan for 1600.00 to buy a car that afternoon.

Congrats! USSFCU has been a reliable financial partner for my family saving me on fees and with low car and personal loan rates. On to the next 85 years!

Thank you for your wonderful service. I joined in 1989 when working for Senator Cochran.

Happy anniversary! Thank you for decades of superb service!

Glad to be part of this great anniversary!

Wishing you a most happy 85th Anniversary. You provide excellent service!

Congratulations to USSFCU on 85 years of service to the community.

Happy Anniversary to one of the best credit unions in the United States! Great for all banking needs.

Happy Anniversary!!! I have been a member since 1993...thank you for the excellent service throughout the years...I wouldn't trust anyone else with my money!

Happy Anniversary USSFCU, you have always been there for me! Your personalized businesses model is unprecedented exhibited by professionalism, kindness with a willingness to make your clients happy will keep us all coming back for years to come! Cheers to the next 85 years.

Happiest of anniversaries to a super credit union. You have given us kind, faithful service. May you be richly blessed in return.

Our family really appreciates all the services the credit union has to offer. We have financed (and re-financed) our mortgage, opened retirement accounts, and established our kids' first bank accounts with USSFCU. Thanks for all that you do!

Thank You for being there through all of these years.

Been a member for more than 50 years. Congratulations!

Happy Anniversary. Keep up the great Union benefits.

I've been a member since I first moved to the area and wouldn't change a thing!

When I became part of the Senate staff it was clear many new doors would open. One, to ussfcu, has remained so for many (about 50 or more) years, helping us through small and larger problems, We have used, enjoyed and appreciated their services.

I've enjoyed banking with USSFCU over the years! It was helpful for managing my money for everything from grad school to my first home to my kids!

A colleague told me she was getting a higher than average interest rate on her savings. I said, "That's the bank for me!"

Congratulations on 85 years. Opening a USSFCU account was one of the very first things I did when I started working on Capitol Hill 20 years ago and I?ve never looked back. It?s my primary bank account to this day. Best wishes for the next 85 years.

Happy 85th. I joined at age 16 in 1979 when I started what turned out to be a full career with the Senate. Things certainly have changed as USSEFCU grew and dropped the "E".

The USSFCU has always been there for me. The staff has shown nothing but professionalism.

Congratulations on 85 years of service to the Congressional community!

I had just graduated from college mid-year and moved to DC from the Midwest in January 1982. One of the first things I was told to do after starting work in the Senate was to open an account at the credit union. I did, and despite the fact that my boss lost in 1984, I have kept my account. The credit union helped me buy my first car. Lots of great ...

It?s a Happy Anniversary for all USSCU members thanks to the 85 years of wonderful and thoughtful service!!! I still love my classic checks! Happy Anniversary!

Happy 85th Anniversary USSFCU! I have been a member since 1983 and I appreciate the tremendous service that I have received throughout my 37 year membership. Keep up the great work!

Ever since I joined in 2011, I've experienced nothing but superior service from USSFCU! From teller assistance to phone conversations, I have never been disappointed. I've banked with many different institutions but I can never see myself leaving USSFCU. Thanks so much!

Happy 85th birthday to an incredible credit union who is always looking out to its members each and every year. Congratulations on this milestone!

Congratulations USSFC! Great customer service. A first class organization!

Very thankful of the stability provided by the USSFCU in these crazy times. Wishing you all safety and love and Happy Anniversary.

Congratulations USSFCU!!! I am a long time member, not only because it is convenient but because of the great service from Credit Union staff. Friendly efficient service from staff at the Hart, Alexandria and GAO locations always comes with a smile. I can't wait for the next annual meeting. Thanks and looking forward to another 85 years.

Thanks to the USSFCU I was able to receive a car loan after years of bad credit. This is a wonderful institution.

Happy Anniversary! Thank you for all that you do. We love our new pool!

I worked in the Senate for 23 years and it was so convenient to dash down to the Credit Union. Following that, I went to the State Department to work for a senior official. My contact from the Credit Union (Dana) was extraordinarily helpful in all things money-related for my "Principal" and for me. I couldn't have managed nearly as well as I did wi...

Thank you for serving the community. It is a pleasure and a joy to say I am a member.

Congratulations USSFCU! I appreciate your efforts to expand services and protect your membership here and abroad.

As a member for more than 40 years, I am thrilled that the USSFCU has reached this milestone, and I wish continued success in the next 85!!!

I have been a member for 40 years and it is one (1) of the best decisions I have ever made for my financial future. Greta, was my 1st teller and has continued to be a very supporting advisor throughout all these years..Happy Anniversary to all your members.

The USSFCU has ALWAYS given me and my family the best service for the last 20 years. I would never switch my banking to any place else. They?re the best!

Eighty-five years is about a lifetime. That's how long we can depend on USSFCU to be with us in good times and bad - for a lifetime.

Estoy muy contento ...

Congrats on making it to 85 and still giving the 3S: Stability, Security, Service and do add Satisfaction

Happy Anniversary! 85 years of helping people fulfill their financial goals, woohoo!!!

I just heard! Is it true? Eighty-five years... Whoop-de-do!

USSFCU has been a great resource for this service disabled Vet - thank you & happy anniversary!!!

Happy 85 Anniversary, I thank for the great job you guys always do, Thanks for allowing me to be part of your family.

Awesome to be celebrating my 25th year Silver anniversary with my credit union spouse the same week that USSFCU is celebrating 85. Much love and gratitude.

A credit union is the financial bestie for working people. I was employed as a credit union rep for 9 years. I promoted legislation to save credit unions as a Us Senate staff representative. Credit unions know who we are as people. I salute the services and dedication of 85 years non stop from the UNITED STATES SENATE FEDERAL CREDIT UNION. Please g...

It?s not just a corporate anniversary, it is an anniversary of a family and community that has grown stronger over the years. USSFCU started with a few but now there are many, not only in numbers but also in engagement, resources, and talents. Wishing you many more years of unparalleled service and success. Happy 85th anniversary USSFCU!

Congratulations from Michigan. Many more successful years ahead.

Happy Anniversary! Your dedicated customer service, both in person and by phone, is greatly appreciated. Thanks for doing it right!

Happy 85th anniversary USSFCU. Thank you for your service! I appreciate the credit union so much.

Congrats! Thanks for being my bank for 42 years!

Have been a happy USSFCU member since the 1980's!

Cheers to our Credit Union on its 85th! Proud to be a Member! Being part the USSFCU has special meaning for me because the first Federally-chartered credit union in the United States was in my hometown: Texarkana, Texas (Morris Sheppherd FCU, in 1934). In addition, a huge influence in my future life in Washington was Congressman Wright Patman, who ...

Happy anniversary USSFCU! I've been a member for 30 years (I'm pretty sure). It's been a great convenience having you in the building, and everyone is always super nice. Thank you!

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