Mortgages

Once you become a WPCU member, securing a mortgage loan is simple. We’ll connect you with a knowledgeable Mortgage Loan Originator and provide resources to help you get where you need to be for higher approval odds. All loan applications are subject to credit review and approval.

Wright-Patt Credit Union offers lower, competitive mortgage rates, lower-to-no fees, and more flexible lending criteria. An appropriate down payment can help make mortgage rates and monthly payments more affordable. All loan applications are subject to credit review and approval.

You can apply for a mortgage loan online at your convenience, or visit your closest Member Center. You can also call (800) 762-0047 ext. 7680 and ask to speak with one of our friendly and helpful Mortgage Loan Originators.

The key to buying the right home for you and your family is knowing how much you can comfortably afford to pay each month. In addition to your monthly mortgage payment, remember to consider property taxes, PMI if required, maintenance and homeowners insurance.

Use these calculators to learn more about how much you can afford to spend on your home.

Just like there is no one-size-fits-all home, there isn't a one-size-fits-all mortgage. There are lots of options that can be tailored to suit your individual situation. At Wright-Patt Credit Union, we are committed to helping you find the right mortgage for you so you can move toward the goal of homeownership with more peace of mind for as long as you own your home.

When you're ready to meet face-to-face with a Mortgage Originator, simply call (937) 912-7000 or (800) 762-0047 and ask to be directed to one of our friendly and knowledgeable Mortgage Originators, or click here.

Please consult with your Mortgage Loan Originator by calling (937) 912-7680.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

Once you have a sales contract in hand, you can lock your interest rate on your Wright-Patt Credit Union Construction Loan. You'll enjoy peace of mind knowing that your rate is protected through the life of the loan—from construction through conversion.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

The timeframe for a foreclosure varies from county to county, but this is an example of what a typical foreclosure timeframe might be:

• First 30 to 90 days - Homeowner does not make monthly mortgage payments.
• After 90 days - Lender can file a mortgage foreclosure lawsuit in court.
• 28 days - You receive notice of a mortgage foreclosure lawsuit. You have 28 days from the date of service to file an answer with the Court.
• After the 28 days - If an answer is not filed within the 28 day deadline, the lender can get a Default Judgment against you and ask the Court for an order to sell your home.
• Next 3 to 6 months - After the Default Judgment, your home is appraised to determine its value at an auction conducted by the County Sheriff's office. The sale date is published in the local newspaper 30 days prior to the sale. Most counties list properties up for auction on their website.
• Day of Sale - Auction takes place and a "winning bid" is accepted. Bidding usually starts at 2/3 of the appraised value.
• Next 2 weeks - Lender asks the Court to "confirm" the Sheriff's sale. The Court will order a Sheriff's Deed to the auction winner. You no longer own the property.
• Next 2 to 4 weeks - The new owner requests the Court to have you removed from the property. The Sheriff will generally give you two weeks to move out of the property.

The entire process can happen as quickly as 6 months, so if you are having problems making your mortgage payment, contact us immediately. The sooner you act, the sooner we can work to help keep you in your home.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

Our goal is to help keep you in your home and there are a number of options we can help you with:

• Refinance: If you have a good payment record and the ability to continue making payments, this may be your best option. Contact Wright-Patt Credit Union's Mortgage Department at (937) 912-7681 or (800) 762-0047 ext. 7680 to talk with a Mortgage Originator about refinancing your existing loan.
• Repayment Plan: In this solution, you make your monthly payment plus a portion of the past due payments until the loan is current.
• Reinstatement: You pay the total amount owed in one lump sum by a specific date.
• Forbearance: Your payments are reduced or suspended for a short period of time, usually three to six months. This option is often combined with a repayment plan or modification that brings the account current at a specific time.
• Loan Modification: Your loan is permanently changed in one of the following ways: adding the past due payments to the existing loan balance, changing the interest rate, including making an adjustable rate into a fixed rate or extending the number of years to pay.
• Claim Advance: If the mortgage has insurance (PMI), you can take an interest-free loan to bring the account current and allow several years for repayment.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

In 2006, the Ohio NeighborWorks organizations created a Home Rescue Fund for low and moderate income households that are in danger of losing their home. This fund can provide funds to assist in a rescue loan for individuals behind on their mortgage and in danger of foreclosure.

• The total assistance available per family is approximately $3,000-$5.000 depending on income level.
• It is intended to help borrowers who have fallen behind for some reason buy are now able to make their monthly payment. They are just having difficulty "catching up" on the amount past due.
• The reason for delinquency must be "cured" – this means that if you fell behind on your mortgage due to layoff – you must be back to work.
• This is a "forgivable mortgage loan" – if you live in the home for a minimum of three years, you are not required to repay the funds. If you leave the home before the end of three years, you will be required to repay the amount.
• Other requirements and guidelines may apply.
• Click here to find out more about the Ohio Home Rescue Fund and list of Ohio NeighborWorks organizations.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

We do have to place some exclusions on the program. These exclusions are related to decisions you may make as the borrower. Here's what they are, and why they are needed.

• Should you choose a third-party lender product such as a government loan (FHA or VA) or a loan through Personal Credit Solutions, the guarantee is not offered since we cannot control their fees. We will work with the lender to ensure that you are provided a fair and accurate Good Faith Estimate.
• Should you choose to increase your loan amount from the original request in excess of $10,000, we will not be able to offer the guarantee. Some closing costs, such as title insurance, are based on the loan amount.
• Should you choose to purchase borrower title insurance, this item will not be covered in the guarantee. All other closing costs will be guaranteed.
• Should you choose to purchase discount point(s) after the initial application, this item will not be covered in the guarantee. All other closing costs will still be guaranteed.
• Should you choose a construction loan, the number of draws will affect the closing costs. Therefore, costs for draws and title updates will not be guaranteed. All other closing costs will be guaranteed.
• Finally, prepaid items - items that are paid in advance - are excluded from the guarantee. They include prepaid interest, prepaid hazard (property) insurance, prepaid property taxes, and other prepaid charges that are not paid to Wright-Patt Credit Union or myCUmortgage. These amounts are dictated by third party providers, such as your insurance company or the County Treasurer. Wright-Patt Credit Union has no control over these items, and therefore cannot guarantee them.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.

Yes, we offer a variety of rate lock options. Contact a Mortgage Originator by calling (937) 912-7680 or (800) 762-0047, ext. 7680 for details.

Mortgage loans processed by myCUmortgage, LLC — a wholly-owned subsidiary of Wright-Patt Credit Union, Inc. All loans subject to credit approval and property appraisal.