Homebuying Starts Here!

Authorization for Credit Information Access
Submitting your mortgage application constitutes your authorization for MCU to access and review your credit report and other relevant financial data obtained from authorized credit reporting agencies. This information is solely utilized to determine your eligibility for a mortgage. Please be aware that this credit inquiry may result in a minor, temporary impact on your credit score.

Promotional Rate Information
Should promotional interest rates be available, please note that these are offered for a limited time and are contingent upon meeting specific eligibility criteria. These criteria may include, but are not limited to: a minimum credit score, adherence to loan-to-value ratio thresholds, and specific loan purpose and property type requirements. It is important to understand that promotional rates cannot be combined with other discounts or offers; additional terms and conditions apply. For detailed information regarding promotional rates, please contact us at 1-844-MCU-NYNY (1-844-628-6969), Option 2.

Loan Approval Process and Availability
The approval of all mortgage applications is subject to a thorough credit assessment, verification of the information provided in your application, and a satisfactory property appraisal. Available loan programs, interest rates, and terms may vary based on your location and may not be universally available. Further restrictions may also apply.

¹3% Down Payments
A 3% down payment on a $500,000 loan amounts to $15,000. For complete details on mortgage rates and terms, please contact our Mortgage Lending Department. MCU requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. This is based on a 30-year term (360 payments) with a 6.25% interest rate and a 6.280% APR.

²0.25% Rate Discount
The Rate Discount applies to eligible first-time buyers purchasing a primary residence with a conventional loan. Income and residency requirements must be met. Additional terms and conditions may apply.

³The Homebuyer Dream Program® 
Municipal Credit Union (MCU) offers the Homebuyer Dream Program® (HDP) in partnership with the Federal Home Loan Bank of New York (FHLBNY), subject to program eligibility and availability of funding. Grants of up to $19,500 are available for first-time homebuyers to assist with down payments and closing costs. An additional grant of up to $500 may be provided for homeownership counseling expenses, payable to a participating nonprofit counseling agency.

Eligibility and program requirements apply, and participation is subject to approval by MCU and FHLBNY. Grants are limited and awarded on a first-come, first-served basis.

Important Notes:
Offer valid for eligible mortgage products only.
The lender reserves the right to amend or terminate this promotion at any time without prior notice.
All loans are subject to credit approval and additional underwriting requirements.
Other restrictions may apply.