Low Down Payment Options

Though many institutions will say a 20% down payment is needed to buy a home, this simply isn't true. With Wailuku Federal Credit Union, a 1% down payment may actually get you into your dream home. The 20% threshold exists because most lenders require Private Mortgage Insurance (PMI) if you can’t put down 20% or more. With these lenders, you pay the PMI premium but they get all the protection. With WFCU, though, if you buy your home with as little as 1% down you have the option of letting the lender pay the PMI or taking care of it yourself. We’ll evaluate your situation and help you determine which option is better. We’ll also work with you to ensure your monthly payments match up with your monthly income. You can learn more about the different PMI payment options here.

Come visit us today at WFCU, and we’ll walk you through the process of making the dream of homeownership a reality!

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or speak with one of our loan experts by calling (808) 442-8024.