No Closing Cost Mortgages

Family moved in to new house

No Closing Cost* Mortgage Options

We offer fixed and variable rate “No Closing Cost” Mortgages with slightly higher rates than our regular in house fixed and variable rate programs.

We offer a low minimum 3% down payment**

*Closing costs paid by the credit union include: appraisal fee, credit report fee, flood zone determination, real estate tax monitoring service, the credit union attorney fee, title insurance, mortgage tax, recording fees, search fee (refinances only) and processing fee. There is a 5-year recoup period, if the mortgage is refinanced or paid off in the first five years the closing costs paid by the credit union will be included in the payoff amount. All other fees are the responsibility of the borrower. Property and hazard insurance are required and are the responsibility of the borrower. Certain restrictions apply. **For mortgages with less than 20% down payment, Private Mortgage Insurance (PMI) is required and the member is responsible for PMI premiums. All mortgages are subject to credit approval and mortgage program qualification. Contact our Mortgage Team for details at 716.372.6607.

NMLS #585840

VERIFICATION OF INCOME

  • Two most recent paystub(s) covering the last 30 days
  • Two most recent W2 forms from all employers
  • Self-employed borrowers must provide two most recent tax returns including schedules

VERIFICATION OF ASSETS

  • Two most recent checking, savings or investment statements to verify funds for down payment

REQUIRED DOCUMENTS

  • PURCHASE TRANSACTION
  • Copy of Purchase Contract with Addendum
  • REFINANCE TRANSACTION
  • Copy of Deed
  • Copy of Abstract of Title
  • Survey
  • Copy of Tax Bills and Receipts
  • Copy of Home Owners Insurance Declarations Page