mortgage loan options
from conventional to $0 down payment1, we’ve got U
Our $0 Down Mortgage Loan gives you a simple, flexible path to homeownership with personalized support from local Mortgage Advisors—guiding you every step of the way.
the United difference
we've been rolling out the welcome mat since 1949
In this day and age where every bank, credit union, and online site offers you comparable rates on mortgages, United offers you just a bit more. We're local, we're experienced, and we're here for you every step of the way.
Whether you're buying your first home or building your dream home, our Local Mortgage Advisors are ready to find the loan that's best for your unique situation and offer advice. Let's get you one step closer to your dream home today!
3/1 adjustable rate mortgage
For a limited time, we’re offering a special rate when you refinance to a 3/1 adjustable rate mortgage starting as low as 5.490% interest rate8 and 5.581% APR8.
$2,500 homebuyer credit9
Looking for help with the upfront costs of buying a home? If you’re eligible, this limited-time credit can be used towards closing costs or a down payment. Our Mortgage Advisors will help you find the best loan to fit your needs.
A preapproval helps you:
- Set a budget before you start shopping
- Act fast and make a competitive offer
- Stand out above the crowd
Already applied? Log in to:
- Check your loan status
- Complete the next steps on your loan
- Questions? Reach out to your Mortgage Advisor
mortgage loan options
Table Glossary
An adjustable mortgage has an initial interest rate that is fixed for a specific period of time, followed by an adjustable interest rate that can increase or decrease over the remaining life of the loan, based on certain market conditions. United offers two adjustable-rate mortgages (ARM)
- 5/1 ARM: The first 5 five years are a fixed interest rate. Afterwards, the rate is adjusted once a year.
- 7/1 ARM: The first 7 seven years are a fixed interest rate. Afterwards, the rate is adjusted once a year.
This is a good choice if you plan to move before the end of the introductory fixed-rate period, want an initial monthly payment lower than a fixed-rate mortgage usually offers, or think interest rates may go down in the future.
A down payment is an initial up-front partial payment for the purchase of the property. It is money that you physically have at your disposal, it is not borrowed.
Investment property is generally property that you, personally, do not live. This is for property you intend to use to generate income by renting, appreciating value, or other means.
(P)MI stands for (private) mortgage insurance. Mortgage insurance is typically required if you are borrowing a large percentage, usually over 80%, of the property’s value. With United, you can potentially get 100% financing with no PMI.1
Conventional financing are mortgage loans that are not backed or insured by the government. Of conventional loans, they can be either conforming or non-conforming.
DTI stands for debt-to-income ratio. To calculate, add up all your monthly debt payments and divide them by your gross monthly income.
LTV stands for loan-to-value ratio. It is the term to represent the ratio of the mortgage loan as a percentage of the total appraised value of the real property.
A home you live in for some part of the year. Unlike a primary residence, you do not have to live there for most of the year or be close to your work. A second home is intended for personal use.
Conforming is a loan that abides by Fannie Mae and Freddie Mac guidelines, two government-sponsored enterprises. Non-conforming, likewise, is a loan that does not abide by Fannie Mae and Freddie Mac guidelines.
A fixed-rate mortgage is a fully amortizing mortgage loan where the interest rate remains the same for the life of the loan. In other words, your total monthly payment of principal and interest will remain the same over time. This is a good choice if you think interest rates could rise in the next few years, plan to stay in your home for many years, or prefer the stability of a fixed monthly payment.
Property that will be your main home in which you live most the year, receive mail, and is reasonably close to where you work.
Specialty financing are loans offered or secured by a government entity.
mortgage loans in a snapshot
Here's a quick overview of what mortgage loans from United offers. Don't think you'll qualify? Reach out to United and discuss your options. We will fit your needs into the perfect mortgage option for you.
what properties we cover
refinance
‘re-do’ with a refi from United
Simply put, a refi will give you a chance to replace your current mortgage with a new one based on the current market and your current finances.
The best time to refi may be when:
- interest rates are at least 1% lower than your current mortgage
- your credit profile has improved
- you need funds to deal with a financial emergency, finance a large purchase, or consolidate debt
- you plan to stay living in your current home long enough to recoup the costs of refinancing
Refinancing can potentially:
- lower your monthly mortgage payment
- pay off your mortgage faster with a shorter term
- allow you to switch from an adjustable-rate to a fixed-rate, or vice-versa
- obtain a lower interest rate
- provide cash for paying debt and home improvements
- get rid of PMI if you have more than 20% equity in your home
- obtain 100% financing with no PMI
[1] Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions, available on new mortgage applications. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32 . Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. Rate may be increased after consummation. Certain restrictions apply.
[3] Excludes locations that are specified as Commercial Loan Offices.
[4] Payment example, $258,750 retail value of property with 3.5% down amounts to financing $250,000 financed for 360 months at an adjustable rate of 6.421% APR equals a monthly payment of $1,539.29. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Rate may be increased after consummation.
[5] 20% down is for well-qualified borrowers.
[6] Payment example, $250,000 financed for 15 year term / 30 amortization schedule balloon at 7.922% equals a monthly payment of $1,812.67 for 15 years. If only the minimum monthly payment is made, at the end of the 15 year term, a minimum $191,120.78. balloon payment is due.
[7] 0.125% rate discount available to applicants who register, before loan closing, to have their mortgage payment automatically deducted from a United Rewards or Ultra Checking account each month. Offer and terms subject to change. Loans subject to credit and collateral approval as well as program terms and conditions. Payment example, $250,000 financed for 360 months at a fixed rate of 6.922% APR equals a monthly payment of $1,642.32. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. Financing up to 100% of the retail value of the property is available. Up to 360 months financing available. Certain restrictions apply. For well qualified buyers
[8] APR=Annual Percentage Rate. Limited-time rate as low as 5.490% available only on 3/1 adjustable-rate mortgages (ARM) closed after 09/23/2024. Rate and terms subject to change at any time. Loan subject to credit and collateral approval as well as program terms and conditions. Payment example, $250,000 financed for 3-year term ARM at 5.490% equals a monthly payment of $1,417.90 for 3 years. Payment example does not include amounts for taxes and insurance premiums. If applicable, actual payment obligation will be greater. 3-year fixed-to-adjustable rate: Initial 5.490% rate is fixed for 3 years, then becomes variable based on an index and margin. Rate may be increased after consummation. Rate includes a .125% discount available to applicants who register, prior to close, to have their mortgage payment automatically deducted from a United Rewards or Ultra Checking account each month. This offer is exclusive to refinances only. New purchases will not be eligible for the limited-time rate as low as 5.490%. Refinance loan-level price adjustments (LLPA) may be added to the advertised rate based on your financial situation, like your credit score or the amount of your home’s value you're borrowing.
[9] For qualified borrowers financing through the HomeReady and Home Possible loans. For more information, visit fanniemae.com/homeready and freddiemac.com/homepossible. Certain terms and conditions apply.