Military & Special Home loans
Unique Home Loan Rates as low as
APR Effective 6/22/2018*
4.947%APR
VA 30 Year Fixed
VA Purchase 0% Down
4.251%APR
FHA 30 Year Fixed
*See important information about rates, fees and other costs
Sometimes unusual situations require financing that thinks outside the box, and we‘ve got that covered. If a standard loan just won't meet your needs, explore your options with a variety of non-traditional fixed-rate and ARM loans available at BECU.
VA Loans: You Served, Now Let Us Serve You
We're thrilled to be able to offer men and the women of the armed forces multiple purchase and refinance options that they can apply their VA Certificate of Eligibility (COE). By choosing BECU, you combine the benefits you've earned, including a zero down-payment option, alongside the savings of a not-for-profit credit (like fewer fees).
It all adds up to more money back in your pocket.
Limited-Time No Origination Fee Offer
Purchase or refinance your home in Washington or Idaho using a Veteran Affair's loan, and you'll pay no origination fee.* To qualify, you need to set up automatic payments from a BECU checking or savings account, as well as have a Certificate of Eligibility (COE). That's a home loan with no down payment requirement and no origination fee.
This offer is available on purchase or refinanced VA loans made now through Sept. 30, 2018.
| Who is eligible? | Why choose it | |
|---|---|---|
Qualified veterans, reservists, active duty personnel and eligible family members |
No and low down payment options—up to 100% financing |
|
Determine eligibility by obtaining a Certificate of Eligibility (COE) at www.ebenefits.va.gov |
No private mortgage insurance regardless of the down payment amount |
|
Limited closing costs and fees |
||
Flexible credit qualification guidelines |
||
Fixed rate and adjustable rate mortgages available |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You plan to stay in your home for a short period of time |
5/1 ARM has 1% per annual interest adjustment and 5% interest rate cap over life of loan |
It is riskier if you don't expect your income to increase over the initial five-year period to cover the change in monthly payment |
|
You want a fixed rate longer than three years |
Manual underwriting is acceptable |
Interest rate can rise above the current fixed rate over time |
|
You want to qualify for a higher loan amount with lower payments |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You are looking to purchase improved or unimproved property |
You want to purchase land now and build later |
Washington State properties only |
|
You want a lower rate and/or payment than a fixed-rate mortgage offers |
Parcels up to 20 acres |
No large structures or mobile homes are allowed on the property |
|
Purchase loan amounts to $400,000 |
There can be no construction of any sort in progress |
||
Cannot be used for commercial, agricultural, timberland, or farming |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You are looking to purchase improved or unimproved property |
You want to purchase land now and build later |
Washington State properties only |
|
You want a lower rate and/or payment than a fixed-rate mortgage offers |
Parcels up to 20 acres |
No large structures or mobile homes are allowed on the property |
|
Purchase loan amounts to $400,000 |
There can be no construction of any sort in progress |
||
Cannot be used for commercial, agricultural, timberland, or farming |
| Why choose this | Pros | Cons | |
|---|---|---|---|
10-Year Fixed (Land) |
You want to purchase land now and build later |
Washington State properties only |
|
You are looking to purchase improved or unimproved property or refinance improved property |
You own land and wants to refinance to lower rate/payment only |
No large structures or mobile homes are allowed on the property |
|
You want a stable fixed rate payment |
You own land and want to refinance to take cash-out refinance |
There can be no construction of any sort in progress |
|
Parcels up to 20 acres |
Cannot be used for commercial, agricultural, timberland, or farming |
||
Purchase loan amounts to $400,000 |
|||
Refinance loan amounts to $100,000 |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You are looking to purchase improved or unimproved property or refinance improved property |
You want to purchase land now and build later |
Washington State properties only |
|
You want a stable fixed rate payment |
You own land and wants to refinance to lower rate/payment only |
No large structures or mobile homes are allowed on the property |
|
You own land and wants to refinance to take cash-out refinance |
There can be no construction of any sort in progress |
||
Parcels up to 20 acres |
Cannot be used for commercial, agricultural, timberland, or farming |
||
Purchase loan amounts to $400,000 |
|||
Refinance loan amounts to $100,000 |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You are looking to purchase improved or unimproved property or refinance improved property |
You want to purchase land now and build later |
Washington State properties only |
|
Wants a stable fixed rate payment |
You own land and wants to refinance to lower rate/payment only |
No large structures or mobile homes are allowed on the property |
|
You own land and wants to refinance to take cash-out refinance |
There can be no construction of any sort in progress |
||
Parcels up to 20 acres |
Cannot be used for commercial, agricultural, timberland, or farming |
||
Purchase loan amounts to $400,000 |
|||
Refinance loan amounts to $100,000 |
| Why choose this | Pros | Cons | |
|---|---|---|---|
You need expanded options for qualifying income
|
Low down payment
|
Income limitation - not all members will be eligible
|
|
You need flexible credit qualifications
|
Flexible sources for funds for down payment and closing costs
|
Principal residences only (1-4 units)
|
|
If you have limited cash for a down payment
|
Flexibilities for income sources used to qualify
|
| Why choose this | Pros | Cons | |
|---|---|---|---|
You need expanded options for qualifying income
|
Low down payment
|
Income limitation - not all members will be eligible
|
|
You need flexible credit qualifications
|
Flexible sources for funds for down payment and closing costs
|
Principal residences only (1-4 units)
|
|
If you have limited cash for a down payment
|
Flexibilities for income sources used to qualify
|
Have more questions about military or special home loans?
To find out more, visit your nearby Neighborhood Financial Center.
Ready to apply?
*Eligibility for the VA 0% Origination Fee promotion requires completion of the Automatic Payment (ACH) Authorization form authorizing payments from a BECU checking or savings account prior to loan funding. Purchase transactions require receipt of a fully executed Purchase and Sale Agreement no later than 9/30/2018. Loan funding must occur no later than 12/31/2018. Offer applies to purchase and refinance transactions. Loans are subject to credit approval and other underwriting criteria, and not everybody will qualify. Certain restrictions apply. Home loan programs, terms and conditions are subject to change without notification. BECU reserves the right to terminate this offer at any time without notice.
**Income limits may apply. Homeownership education at a cost of $75 (paid to Framework) required. HomeReady is a trademark of Fannie Mae. Loans are subject to credit approval and other underwriting criteria. Certain restrictions apply. Home Loan programs, terms and conditions subject to change without notice.