Yes, we offer the following types of mortgages:
 

• Fixed Rate Mortgage
• Adjustable Rate Mortgages (ARM)
• FHA Loans
• USDA Rural Housing Loans
• VA Loans
• Investment Property Mortgages
• First Time Home Buyer Program with low down payment options
• HARP – Home Affordable Refinance Program

For more information regarding these loan programs, click here.

• Office: : 216-621-6296 x3030 or 1-800-552-6328 x3030
• Cell: 216-262-5164
• Email: mmulhall@ohecu.com

OHecu now offers FHA (Federal Housing Administration) Loans as just one more way of finding a mortgage solution that best meets the needs of the individual member.  

These government backed loans are available to those with “less than perfect” credit or of low to moderate income, offering low down payments and allowing the funds to come from many different approved sources

OHecu is participating in the Home Affordable Refinance Program (HARP) to assist members in refinancing their mortgages – even if the member owes more than the home’s current value.  This program is designed to help members who are current on their mortgages and have lost equity in their homes due to no fault of their own.  These members may have an opportunity to refinance their home loan at today’s historically low mortgage rates.

A USDA home loan is a mortgage loan offered to rural property owners by the United States Department of Agriculture.  Applicants must meet the USDA property and income eligibility requirements.    Some benefits of a USDA loan are:

• No down payment financing 
• No reserves required  
• Not limited to first time homebuyers,
• Gift money ok for closing
• Flexible underwriting guidelines.

A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs (VA).  The VA loan was designed to offer long-term, affordable financing and competitive rates to eligible American veterans (active and former military personnel).  VA loans offer low fixed rates, 0 down options, flexible underwriting guidelines and no monthly mortgage insurance.

It is important to take into consideration the following items when selecting a mortgage lender:

• Interest Rate & Annual Percentage Rate
• Monthly payment and term
• Total amount of closing costs
• Upfront appraisal costs
• Servicing of loan
• Ability to approve loan and close on time
• Knowledgeable Loan Officer
• Communication with Loan Officer during and after the loan closes