Mortgages

At Scott & White Employees Credit Union (SWECU), we understand that securing the right Mortgage is a significant step in your homeownership journey. Our dedicated team is here to provide personalized solutions tailored to your specific needs, ensuring a smooth and supportive experience from start to finish.

VIEW OUR MORTGAGE OPTIONS

Mortgages to Purchase a New Home

Whether you're a first-time homebuyer or looking to upgrade, SWECU offers a range of financing options to help you acquire your ideal home. Our programs include:

  • Conventional Loans: Traditional financing with competitive rates and flexible terms.

  • Construction Loans: Financing to assist with building your new home.

  • Adjustable Rate Loans: Financing with adjustable rates to allow potentially lower initial interest rates and monthly payments.

Our goal is to make homeownership accessible and affordable for our members.

Mortgage Refinancing

If you're considering refinancing your existing Mortgage, SWECU provides options that may help you achieve your financial objectives. Refinancing can offer benefits such as:

  • Lower Interest Rates: Potentially reduce your monthly payments.

  • Shortened Loan Terms: Pay off your Mortgage sooner and save on interest.

  • Cash-Out Refinancing: Access the equity in your home for other financial needs.

Our team will work closely with you to determine the best refinancing strategy for your situation.

Affordable Down Payment Programs

Understanding that saving for a down payment can be challenging, especially for first-time home buyers, SWECU offers programs with flexible down payment requirements. These initiatives are designed to make purchasing a home more attainable, even if you have limited funds available upfront.

Competitive Mortgage Rates and Closing Costs

At SWECU, we strive to offer competitive Mortgage rates and keep closing costs reasonable. Our commitment to affordability ensures that you receive excellent value, helping you manage your finances effectively throughout the home-buying process.

Convenient Online Mortgage Application Process

To simplify your Mortgage experience, SWECU provides an easy-to-use online application system. This platform allows you to apply at your convenience, track the progress of your application, and securely upload necessary documents, all from the comfort of your home.

Connect with Our Mortgage Experts

Navigating the Mortgage landscape can be complex, but you're not alone. Our knowledgeable Mortgage consultants are ready to assist you every step of the way.

TALK TO A MORTGAGE EXPERT

Frequently Asked Questions (FAQ)

What is a "First-Time Home Buyer"?

Technically, you are considered a first-time home buyer if you have not owned a primary residence in the past three years. This means even if you owned a home in the past, you might be eligible for first-time buyer grants and programs today.

What credit score is required to buy a house in Texas?

While requirements vary by loan type, most assistance programs, such as TSAHC, require a minimum FICO score of 620. However, FHA loans may be available to borrowers with scores as low as 580. We recommend applying so our team can review your specific situation.

Do I have to work for Scott & White to get a mortgage?

No! While we proudly serve Baylor Scott & White employees, our membership is open to anyone who lives, works, attends school, or owns a business in Bell County. If you are part of our community, you are eligible.