Your Guide to Different Types of Mortgages at CCCU

Quick Summary: Clark County Credit Union (CCCU) offers different types of mortgages for Las Vegas homebuyers, including conventional loans, FHA and VA programs and specialized assistance through the Home is Possible and WISH programs.

Navigating the homebuying process in Las Vegas is easier when you understand the diverse mortgage options offered by CCCU. Each loan type is designed to meet specific financial situations and homeownership goals.

Conventional Fixed-Rate Mortgages

Conventional fixed-rate mortgages provide stable interest rates and consistent monthly payments throughout the loan term. This predictability is ideal for buyers planning to stay in their homes long-term, offering financial stability and ease in budgeting.

Adjustable-Rate Mortgages (ARMs)

ARMs start with a lower initial interest rate that adjusts periodically based on market conditions. This option may suit buyers who anticipate relocating or refinancing before the rate adjusts, allowing them to benefit from lower initial payments.

Learn the difference between fixed and adjustable interest rates.

FHA Loans

Backed by the Federal Housing Administration, FHA loans are tailored for first-time homebuyers or those with limited down payments. These loans feature more lenient credit requirements and lower down payment options, making homeownership more accessible.

VA Loans

Available to eligible veterans, active-duty service members, and certain reservists, VA loans offer benefits such as no down payment and competitive interest rates. These advantages facilitate a smoother path to homeownership for those who have served.

Land and Home Construction Loans

For homebuyers looking to build a custom home, CCCU provides financing options that cover both land acquisition and construction costs. This streamlines the process of creating a personalized residence.

Future Income Mortgage Program

This innovative program considers future income potential, assisting professionals who are scheduled to begin under the terms of an employment offer or contract. It enables them to secure financing while in transition.

Assistance Programs at CCCU:

CCCU participates in programs designed to make homeownership more attainable:

Home is Possible Program: This initiative offers interest-free down payment assistance of up to 4% of the loan amount, reducing upfront costs for qualified buyers.

WISH Program: The Workforce Initiative Subsidy for Homeownership provides a 4-to-1 matching grant for low-to-moderate-income first-time homebuyers, significantly enhancing their purchasing power.

Learn more about Home is Possible and WISH programs in our featured blog.

Start your homebuying journey with CCCU!

By offering a comprehensive suite of mortgage products and access to beneficial programs, CCCU equips Las Vegas homebuyers with the tools and support necessary to navigate the homebuying journey confidently and successfully.

For questions or assistance with CCCU’s mortgage loans, speak with a mortgage professional at 702-228-2228 option 1.