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Home Loans

Getting a home loan with CUA is convenient and easy. We have local underwriters with local servicing/payments and offer flexible programs to meet your needs.

No PMI Home Loan

Credit Union of America is now offering a home loan with 5% down payment*** and no private mortgage insurance (PMI).

  • Fixed rate conventional home loan
  • Finance up to 95% of the purchase price/appraised value, whichever is less
  • Down payment may not come from gift funds
  • Property must be owner occupied
  • Must meet loan requirements and be employed for 24 months with same employer to qualify 

FHLB Homeownership Set-Aside Program Grants

Are you a first-time homebuyer interested in receiving up to $5,000 for your new home? Credit Union of America is proud to offer the Homeownership Set-Aside Program through the Affordable Housing Program. Homebuyers must meet the following criteria:

  • First-time homebuyer, may not own or be an investor in another residence
  • Household income at or below $53,040 for 1-2 persons, or $60,996 for households with 3 or more
  • Must provide $500 down payment or other costs paid outside of closing costs of at least $500
  • Home may be in rural or urban locations in Kansas
  • Must complete homebuyer education approved by designated state organization
  • Non-occupying co-borrower and/or co-owners are not permitted
  • No cash back may be received at closing, no debt may be paid off at closing
  • Loan can't close until confirmation of reservation's income approval has been received
  • Must stay in purchased home for at least five years

3% Down Payment

  • Fixed rate conventional home loan
  • Finance up to 97% of the purchase price/appraised value, whichever is less
  • Down payment** may come from gift funds
  • Seller can pay up to 3% of closing costs

Retire My Mortgage

  • $299 flat closing cost*
  • No appraisal required
  • 10 year term
  • Low interest rate refinancing

Learn what to expect when applying for a mortgage loan with CUA. Check out our online mortgage resources or visit with a CUA mortgage officer at 316.265.3272 extension 191 or 1.800.256.8049.

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*Property must be owner occupied, primary residence. New CUA loans only. Current CUA loans may be eligible for modifications or traditional refinances. Minimum 2 months reserves are required, escrows are optional. Only single family detached/attached and planned unit developments are eligible for the "Retire My Mortgage" product. Example: A $100,000 loan with a $299 closing cost at 4.00% fixed annual percentage rate would result in a monthly payment of $1,217 for 120 months. Other restrictions may apply, for full details, speak with a CUA Loan Officer.

**A $125,000 purchase price with $3,750 (3%) down payment and $121,250 financed at 4.75% fixed annual percentage rate would result in a monthly payment of $632.50 for 360 months. Sample payment only includes principal and interest. Other restrictions may apply, for full details speak with a CUA Loan Officer.

***A $125,000 purchase price with $6,250 (5%) down payment and $118,750 financed at 4.75% fixed annual percentage rate would result in a monthly payment of $619.46 for 360 months. Sample payment only includes principal and interest. Other restrictions may apply, for full details speak with a CUA Loan Officer.

Signature Loans

  • Signature Loans: No collateral required, and you can borrow up to $15,000!
  • Guaranteed Teacher Loans: A 12 month, $1,500 guaranteed loan offered to educators*.
    *Maximum $1,500.00 loan. Stated Annual Percentage Rate includes 5.00% discount for CUA checking with direct deposit. Guaranteed teacher loan requires a copy of your current Kansas USD full-time teaching contract, status as an educator in the state of Kansas, and payroll deduction for loan payment. One guaranteed teacher loan per member at any one point in time. Add-on funding not allowed on guaranteed teacher loans. Part-time teachers and non-teacher workers in the field of education are welcome to apply and must qualify for loan terms. All applicants must qualify for CUA membership and membership must be in good standing. All bankruptcies must be discharged.
  • Healthcare Loans: A 12 month, $1,500 loan available exclusively for healthcare professionals.
  • Laptop Loans: A 0.00% APR loan for up to $2,500 to purchase a computer/laptop/tablet. Available to students with a current student ID.

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Business Loans

Business loans are available for commercial real estate and term loans by working directly with our Business Services team, which includes Marc Howell, Commercial Lender and Carrie Sengvilay, Commercial Services Advisor.

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Home Equity Loans

Apply for a home equity line of credit and have access to funds that can be used for just about anything. Interest is only paid on the balance owed and a new loan application isn’t required when the balance is paid down. It may also provide a tax deduction benefit – talk to your personal tax adviser for more details.

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