Mortgage Assistance Programs
Get the Financial Help You Need to Lock Down Your Dream HomeService Credit Union Mortgage Assistance Options
Service Credit Union offers various Mortgage Assistance programs to support your journey to homeownership. Whether you need help with down payments, closing costs, or specialized loans, we are here to help.
Down Payment and Closing Cost Assistance
If you are buying a home in New Hampshire, you can apply for up to $10,000 in down payment and closing cost assistance through the New Hampshire Housing Finance Authority’s Home First and Home First Plus programs. This program also offers reduced mortgage insurance rates and low or no down payment options.
VA Home Loans
Our VA Home Loans are designed for active and retired military members, providing benefits such as low or no down payments, lower interest rates, and no monthly mortgage insurance. This government-backed mortgage is ideal for those who have served our country.
USDA Rural Development Loans
For eligible rural and suburban homebuyers, we offer USDA Rural Development loans with 0% down payment options. Areas with populations of 35,000 or less can qualify, making it a great option for low to moderate-income buyers outside city limits.
Accessory Dwelling Units (ADU) Program
Considering an ADU? Our program offers low down payments, credits towards closing costs, and below-market interest rates. ADUs are a popular choice for affordable housing in major markets.
Renovation Loans
Looking to purchase and renovate a property? Our renovation loans cover both the purchase and renovation costs in one fixed-rate mortgage. Whether you are buying a fixer-upper or refinancing your existing home, we can help.
First-Time Homebuyer Resources
Buying your first home can be daunting. Our resources and guides will help you navigate the process with confidence. Learn how to get prequalified, understand the different types of loans available, and find out what steps to take next.
Ready to take the next step towards homeownership? Contact us today to explore our mortgage assistance options and find the best program for your needs.
Frequently Asked Questions
What documents are required for the deferment program?
You will need to provide proof of income loss, such as a layoff notice or recent pay stubs showing reduced income. Additionally, you must complete the application form available on our website or through our support team.
How long does the loan modification process take?
The loan modification process typically takes 30-60 days from the initial consultation to the finalization of new loan terms. This period may vary depending on the complexity of your financial situation and the promptness of document submission.
Are there any fees associated with mortgage assistance programs?
No, Service Credit Union does not charge any fees for applying to or participating in our mortgage assistance programs. Our goal is to provide support and relief without adding to your financial burden.
*Cash assistance offer only available on qualifying loan products for applicants who meet income and property requirements. Property must be located in New Hampshire. Applicable cash assistance will be applied as a credit on the closing disclosure and is not transferable. Additional restrictions may apply. Offer subject to change or be discontinued at any time without notice.
**Applicant subject to creditworthiness, debt-to-income, and property requirements. Please contact a mortgage specialist for additional program details and requirements.