May 12

May 12 Home Loan Designed for Public Servants: Because You Do So Much For Us

First responders, healthcare professionals, teachers, and civil service workers in St. Louis do so much for our community. To show our appreciation, we're offering the Community Contributor Mortgage to help remove some of the financial barriers to homeownership for our valued neighbors.

Together Credit Union members who serve the community in these roles are invited to apply for this special mortgage loan program:

Civil service worker
Firefighter
Healthcare and emergency medical professional
Law enforcement
Military member (both active duty and veterans)
Teacher

What are the program benefits?

Borrowers who finance their home purchase with a Community Contributor Mortgage pay as little as 3% down and do not pay for private mortgage insurance (PMI).

Will these benefits make owning a home more affordable?

In a word: Yes. There are several ways the Community Contributor Mortgage makes homeownership more affordable.

A low down payment means you can keep more money in your bank account for other new home expenses, such as moving costs and furnishings, or to deposit into a home maintenance and repair savings account. You can then use that account to make sure you have funds to pay for routine maintenance, occasional repairs, and property improvements that are a normal part of homeownership.
A smaller down payment also shortens the time it takes to transition from home shopper to homeowner. Since the Community Contributor Mortgage requires a low down payment compared to other types of loans, you won't need to save as long before you're able to put in an offer on your dream home.
Community Contributor Mortgage borrowers have lower monthly payments even though they typically put less than 20% down. That's because this special program removes the PMI requirement. Typically, homeowners who do not possess at least 20% equity in their home (or have paid in at least 20% of the house value) must pay a monthly fee in addition to their regular mortgage payment. However, our program borrowers are exempt from this fee, saving years of monthly payments and thousands of dollars.

How can I apply?

If you're ready to take advantage of this unique program, you can receive a fast approval when you apply online today!

I want to learn more before I complete a mortgage loan application. Who can I speak with about the Community Contributor Mortgage?

We encourage you to schedule an appointment to speak with one of our home loan experts. They can discuss your goals and explain how this program might be the right fit for your finances.

What about other professions?

If you work in a profession that falls outside of the ones listed here, you may qualify for another Together Credit Union home loan. We offer several low-interest fixed and adjustable rate home loan options: First Time Homebuyer Loans, Traditional Loans, and Second Mortgages. Some of these options come with special benefits, too. For example, Together Credit Union's First Time Home Buyer Mortgage is available to applicants buying a home for the very first time who would benefit from a mortgage with no money down, no private mortgage insurance, no origination fee, or lender closing costs.