Homeownership is possible with
Cherry Mortgage
Cherry Mortgage
A mortgage you can afford from a lender you can trust
Homeownership is possible with our Cherry Mortgage. It’s an affordable option with a minimum 1% down payment, a fixed interest rate and a 30-year term. If you are ready to apply for your mortgage with United Housing, fill out our Cherry Mortgage application below.
The key to your new home
The Cherry Mortgage might be the tool that makes homeownership possible for you. We’ve included key qualification details to help determine if this is the right loan for you.
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The Cherry Mortgage can finance up to $150,000 of your home purchase. That doesn’t mean the home has to be valued at $150,000 or less, but that’s the most you can borrow with this product.
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The Cherry Mortgage is for homeowners who will live in the home full-time. It can’t be used for a property you intend to rent.
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The Cherry Mortgage offers a fixed interest rate and a 30-year term, resulting in a consistent, budgetable mortgage payment.
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All borrowers must complete a Homebuyer Education course to qualify. United Housing offers several education options, including in-person and online classes. Check out our upcoming schedule here.
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You must have a credit score of at least 600 to qualify.
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You must show 24 months (2 years) of employment history when you apply. Your debt-to-income ratio can be up to 42%. IF you have student loans, payments are not included in your debt-to-income calculations if they’re deferred for 12 months.
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Borrowers must invest a minimum of 1% of the purchase price. If you need help with closing costs our team can help you find products to support you.
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Cherry Mortgage can still help you if it has been 2 years since discharge and you’ve reestablished your credit.
Need down payment assistance?
If you require a loan greater than $150,000, you may qualify for down payment assistance through one of our banking partners. Contact them for application information.