Mortgages
Settle into your new nest
One of the most rewarding moments in life is walking through the doors of your new home. We're here to make that moment a reality! Through joining efforts with Credit Union Mortgage Association, Inc (CUMA), our members can benefit from extended mortgage offerings. Get started by viewing the mortgage options below.
Here's how it works:
Get Pre-Approved
When you get pre-approved for a Spero Financial mortgage, you can begin the house hunt with the confidence, knowing how much you can truly afford. Plus, a pre-approval is a great negotiating tool, especially if there are multiple offers on a house.
How To Apply?
Review the mortgage options below. Click "Apply Now" and complete the application. Once the information is submitted, a mortgage specialists will follow up shortly.
HOME LOAN OPTIONS
Get the mortgage that fits your dreams and goals.
Conventional Mortgage
Looking to buy a home or refinance? You can go with a 15, 20, or 30-year fixed-rate mortgage for predictable payments, or choose an adjustable-rate mortgage which may save you interest. While adjustable rates can change, there’s a cap on how much they can fluctuate. Plus, with either option, you can pay off your mortgage early without any prepayment penalties.
VA Loan
If you're a service member, veteran, or surviving spouse, a VA loan could be a great way to help you buy a home. VA loans are insured by the Department of Veteran Affairs. Home loans are available for qualified borrowers to build a home, buy/repair a home, purchase a home, and make energy-efficient improvements.
FHA Loan
An FHA mortgage is insured by the Federal Housing Administration (FHA). FHA may be an option for you if you are a first-time homeowner or have a lower credit score. An FHA loan does not require a 20% or more down payment like other traditional mortgages - in fact, in some cases, a down payment may be as low as 3.5%.
USDA Loan
A USDA loan is a great option if you're looking to buy a home in a rural area. It offers low or no down payment and competitive rates, making homeownership more affordable. Plus, it’s backed by the government, so it’s a solid option for eligible buyers.
Jumbo Loan
A Jumbo Loan may be a good choice if you're buying a high-value home that exceeds the limits of a conventional loan. It offers larger loan amounts. Since it’s not backed by the government, you’ll need a solid credit score and a bigger down payment to qualify. It’s a great option for those looking to invest in a luxury property.
Lot Loan
A Lot Loan may be a great option if you're planning to buy land before building your dream home. It allows you to purchase the property now and gives you time to plan your construction later. With flexible terms, it’s a great way to secure land for the future!
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit allows you to tap into your home's equity for things like a home renovation, unexpected expense - you name it! It is a revolving line of credit, where you can withdraw funds as you need them up to a maximum approved limit. It works like a credit card, but it's secured by your home.
Fixed-Rate Second Mortgage
A Second Mortgage lets you borrow against the equity in your home, giving you extra funds for things like home improvements or consolidating debt. Sometimes it is referred to as a Home Equity Loan. It’s in addition to your first mortgage, so you’ll make two separate payments. It can be a smart way to access cash without selling your home.
Financial Stability with a Personal Touch
Last, but not least:
Subject to credit approval and sufficient collateral. Additional eligibility criteria and membership may be required for certain loan types.