Decorative Image

Loan products to fit your needs.
ULG strives to provide its customers with high quality service and a comprehensive selection of competitively priced loan products.

Conventional Loans

Conventional loans are loans that are secured by government sponsored entities such as Fannie Mae and Freddie Mac. They can be made to purchase or refinance homes with first and second mortgages on single family to four family homes. This loan can be used for anyone from first-time home buyers, people looking to upgrade, investment homes or second homes.

In general, Fannie Mae and Freddie Mac's single family, first mortgage loan limit is $424,100. This limit is reviewed annually and, if needed, changed to reflect changes in the national average price for single family homes.

Jumbo Loan
Loans which are larger than the limits set by Fannie Mae and Freddie Mac are called jumbo loans. Because jumbo loans are not funded by these government sponsored entities, they usually carry a higher interest rate and some additional underwriting requirements.

In addition to common loan structures such as fixed rate, adjustable rate and balloon loans, Fannie Mae and Freddie Mac also have loan programs for low to no down payments, community lending and affordable housing initiatives.

FHA Loans

FHA loans are fully insured through the Federal Housing Administration (FHA), a government organization. FHA loans offer benefits that include lower down payments, lower closing costs, straight-forward mortgage terms, and easier credit qualification.

FHA Streamlined 203(k) - Renovation Loans
A single-family home rehabilitation program that enables you to finance both the purchase or refinance of a house and/or the cost of its rehabilitation through a single mortgage.

FHA Single Family Mortgage Insurance Program
Programs that help low and moderate income families become homeowners by lowering some of the costs of their mortgage loans.

FHA Mortgage Insurance Costs
For an FHA loan the borrower will be charged a mortgage insurance premium equal to 1.75% of the base mortgage amount which can be added into the mortgage on the property and a renewal premium of 0.85% of the base mortgage amount, calculated monthly, in subsequent years.

Down Payment Gifts for FHA Loans
FHA allows 100% of the down payment to be a gift from friends, family, or other approved sources.

VA Loans

VA loans can mean a lower monthly payment for you if you are an eligible borrower. Take advantage of your VA benefits with this government backed loan. Purchase with no down payment, never pay mortgage insurance, and receive lower rates. No one brings our Veterans home like ULG!

One-Time Close Construction
Closes up front but will not disburse in its entirety at closing, instead the lender will advance funds to acquire the land or payoff any existing lien on the land.

VIP Renovation Program
Finance the purchase or refinance of a home and the cost of certain minor rehabilitation through a single mortgage.

Jumbo VA Loan
For loans with base loan amounts exceeding $424,100.

MCC Program for Eligible Veterans
Qualifying homeowner may be able to claim up to 50% of their paid mortgage interest each year as a tax credit on their federal IRS tax return.

Refinance - IRRRL
With a VA Interest Rate Reduction Refinance Loan (IRRRL) you may be able to lower your interest rate by refinancing your existing VA loan. No Appraisal Required. No Credit Underwriting Package Required. No Cash out Allowed. Certificate of Eligibility (COE) Required.

18164666