We are excited to announce our partnership with TruHome, a leading provider of premier mortgage servicing for credit unions. Through this strategic partnership, we aim to provide our members with specialty mortgage options, such as, Federal Housing Administration (FHA) and Veteran Affairs (VA) loans. We are committed to providing our members with the exceptional service they’ve come to expect from Logix, ensuring a streamlined and customer-centric mortgage process.

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Have an existing FHA or VA loan?

Manage your FHA or VA loan online while gaining valuable market insights on your home. You can view your balances, documents, payment activity, and more all in one place.

What is an FHA Loan?

An FHA Loan is a mortgage backed by the Federal Housing Administration (FHA) and a part of the U.S. Department of Housing and Urban Development (HUD). This type of loan offers several advantages, including:

Lower Minimum Down Payment:

FHA Loans require a lower minimum down payment compared to conventional loans, making it more accessible for those with limited savings.

Acceptance of Lower Credit Scores:

Unlike conventional loans, FHA Loans are more lenient when it comes to credit scores, allowing individuals with lower credit scores to qualify for financing.

Higher Loan-to-Value (LTV) and Debt-to-Income (DTI) Limits:

FHA Loans permit higher LTV ratios on purchase transactions, and they can accommodate borrowers with higher DTI levels, subject to automated underwriting system (AUS) approval.

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96.5% LTV on Purchase Transactions

This means you can finance a significant portion of your home purchase through an FHA Loan, requiring a lower down payment.

Favorable Rates for Low Credit Scores

FHA Loans often offer competitive interest rates, even for borrowers with lower credit scores, without incurring loan-level price adjustments (LLPA).

Foreclosure and Bankruptcy Eligibility

Borrowers may be eligible for an FHA Loan three years after a foreclosure and two years after a bankruptcy discharge.

Mortgage Insurance Premium Assistance

The upfront mortgage insurance premium can be rolled into the loan amount, reducing the immediate out-of-pocket expense.

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What is a VA Loan?

A VA Loan is a mortgage partially guaranteed by the Department of Veterans Affairs and exclusively available to eligible veterans. These loans are primarily intended for purchasing or refinancing a primary residence. Eligibility for a VA Loan is based on the following criteria:

Active Military Duty or Honorable Discharge:
To be eligible for a VA Loan, a person must either be currently serving on active military duty or be a veteran who was honorably discharged from the armed forces.
Minimum Service Requirements:
Veterans must meet specific service duration requirements, which include serving at least 90 consecutive days during wartime or at least 181 consecutive days of active service during peacetime.
Eligibility for Surviving Spouses:
VA Loans are also available to surviving spouses of eligible veterans, provided they meet the specific guidelines established by the Department of Veterans Affairs.

Calculate your monthly payments, see if you can lower them, find out if you should refinance, and more!

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Mortgage Rates

Looking for a new home or refinancing a mortgage? We have loans and great rates for every situation.

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Logix Federal Credit Union (NMLS# 503781) offers FHA/VA mortgage loans by partnership with TruHome Solutions, LLC (NMLS# 284608).