Military, VA & Special Home Loans

Unique Home Loan Rates as Low As

APR Effective 12/14/2018*

4.647
%
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.

No Origination Fees

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.

Our Loan Options Include:

Collapse BECU VA Home Loans

	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

Expand 30-Year Fixed High-Balance Loan

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

Expand 5/1 Year ARM (Land)

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

Expand 7/1 Year ARM (Land)

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

Expand 10-Year Fixed (Land)

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

Expand 15-Year Fixed (Land)

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

Expand 20-Year Fixed (Land)

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

Expand HomeReady Mortgage: 30 Year Fixed**

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

Expand HomeReady Mortgage: 5/1 ARM 7/1 ARM 10/1 ARM**

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.

Email us to learn about BECU homes for sale.

Make an Appointment

Ready to apply?

Military & Special Home Loans