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Home Loans

Make homeownership happen with affordable loans from HOPE.

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Homeownership is a dream for many families across the Deep South. Hope Credit Union (HOPE) can help you make that dream become a reality.

HOPE offers a full range of home loan options that meet a variety of needs.2 We’ll be there with you during each step of the homebuying process and work with you to find the lowest rates and best choices for you.

 

Take advantage of our special $500 closing cost offer for first-time homebuyers.

 

 

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What Is a Home Loan?

 

A home loan, or mortgage, is money you borrow from a lender to help you buy a house. You agree to repay it over time, usually in monthly payments that include principal, interest, and sometimes insurance or property taxes.

 

With HOPE, a home loan is more than a transaction. It’s a step toward building financial stability, generational wealth, and long-term success. Whether buying your first home, moving to a larger space, or refinancing, we’re here to make it happen.

Affordable Home Program Loan

Rates as Low as

6.979

%

APR

Types of Home Loans Available

Affordable Housing Program

Designed for low- to moderate-income borrowers, our Affordable Home Program permits credit scores as low as 580.

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Conventional Loans

Ideal for borrowers with stronger credit and savings, our conventional loans offer lower interest rates and flexible terms.

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FHA Loans

FHA loans make homeownership possible for first-time buyers and those who can’t afford the larger down payment for a conventional loan.

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ITIN Loans

If you don’t have a Social Security number, you can use your individual taxpayer identification number (ITIN) to pursue the dream of homeownership.

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USDA Loans

USDA loans are a smart choice for those purchasing homes in eligible suburbs and rural areas, with up to 100% financing.

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VA Loans

Loans just for veterans, active-duty service members, and eligible spouses, offering no down payment and competitive interest rates.

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2 Easy Ways to Get on the Path to Homeownership

1

Get Started Online

Use our quick and easy electronic contact form today and get started on the journey to your new home.

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2

Connect with our lending specialists

Connect with one of our mortgage experts and get the guidance you need to complete your application.

Meet Our Lenders

Benefits of Choosing HOPE for Home Financing

Flexible lending Icon

Flexible lending

There’s more to you than your credit score. We offer special loans for those with lower credit scores and limited income.

Low or no down payments Icon

Low or no down payments

With HOPE, you may be able to buy a home with no money down, or as little as 3% down for loans over $250,000. Qualified borrowers may be eligible for down payment assistance based on availability and location.

Lower Fees Icon

Lower Fees

Buying a house is expensive enough. We work to keep fees and costs low to save you money when purchasing or refinancing a home.

Expert Support Icon

Expert Support

Don’t stress about applying for a home loan. Our professional team makes it easy and guides you every step of the way.

Member Success Stories

The power of HOPE enables our members to live their best lives. See how we’ve empowered their financial success—and how we can help you too.

  • “We were almost ready to give up when we came to HOPE. With their affordable financing, we got into a new home in a neighborhood we love.”

    James B.

    Tennessee

  • “I love my home. This is something I’ve always wanted. They chose the right name when they chose HOPE, because that’s what they give people every day.”

    Phyllis R.

    Mississippi

  • “I’d tried to buy a home before, but always met with disappointment. It’s a great feeling to see all the hard work pay off. HOPE knew how important this was to my family and worked as hard as I did to make it happen.”

    Vanessa H.

    Louisiana

Question

The power of HOPE enables our members to live their best lives. See how we’ve empowered their financial success—and how we can help you too.

How do I apply for a mortgage?

Apply for HOPE home loan by filling out an application or visiting with one of our mortgage lenders.

What type of information do I need to apply for a home loan?

When applying for a home loan like a mortgage, you will need:

  • Tax returns and W-2s
  • Current pay stubs to show proof of income
  • Identification, like a driver’s license or passport
  • Your social security or tax identification number

If you’re looking to refinance your home, you’ll need to provide information about your current mortgage and property details, like when it was built and its appraised value.

With Hope Credit Union, you’ll find a partner ready to guide you through the application process every step of the way. Our lending professionals help members just like you with applications every day to make homeowner goals a reality.

How soon will I receive a decision after I submit my application?

Response times vary based on the type of loan for which you are applying and whether you are able to provide all the required information when it is needed.

 

Discuss decision timelines with our staff to get an accurate picture of what to expect in your case.

How much of a mortgage can I afford?

Generally, your mortgage payments shouldn’t exceed 28% of your monthly income. Still, there are a lot of factors to consider when determining “how much home” you can afford, including property taxes, existing debts, savings, and your other monthly expenses.

At Hope Credit Union, our lending professionals work closely with you to understand your unique financial situation and establish a homebuying budget. We offer a wide range of mortgages, including down-payment assistance programs and other loans designed for low- to moderate-income families—all to make homeownership possible for the members we serve.

When is my first payment due?

Your first payment is due 30 to 60 days after you receive your loan. You can find your payment due date on your closing documents and your monthly statement.

I have a bad, limited, or no credit history. Can I still get a loan at HOPE?

At Hope Credit Union, we believe in equal access to economic opportunities and seek to provide financial assistance whenever possible. We don’t count medical collections against you, and we can look at nontraditional if your history is limited.

Visit with a mortgage lender to discuss your specific financial situation and see how we can help.

How do I make a mortgage loan payment?

Paying your loan is easy and convenient. You can mail your payment or make payments online using our free electronic banking options with online or mobile devices, or by phone.

Contact Us

Need more information about a home loan or want help to get started? Send us a message.

1APR is Annual Percentage Rate.

2Loans subject to approval.

3Rates effective as of 04/10/2025 and subject to change. A 30-year HOPE Affordable Home Program mortgage of $150,000 with an interest rate of 6.625% (6.979% Annual Percentage Rate or “APR”) and a down payment of $0 would have a monthly payment of $1,260.47. This example includes monthly taxes of $150 and insurance premiums of $150. Actual rates and APRs and will vary based on a variety of factors, including credit history and score, loan amount, loan-to-value ratio, property and occupancy type, tax and insurance payments, closing costs, and other factors.