2nd Chance Mortgage Loans from CCCU
The CCCU team believes people who have suffered the trauma of a foreclosure, short sale or mortgage loan refusal should not be "marked" for life, and unable to achieve their dream of home ownership. They deserve a do-over – 2nd chance mortgage loan through CCCU.
2nd chance mortgage loans deserve a double-take
Like any traditional mortgage loan, borrowers must meet certain requirements to qualify for a 2nd chance mortgage loan at CCCU:
- Prove two years of residency
- Demonstrate good job stability
- Want the mortgage for a primary residence located in Clark County
- Seek a mortgage loan for no more than three times their annual gross income
- Own no other residential property
The 2nd chance mortgage loans at CCCU generally follow these terms:
- Loans for less than $100,000 must be amortized for 15 years
- A 20 percent down payment is required, along with a 2-point origination fee
2nd chance mortgage loans reflect credit union philosophy
Why would Clark County Credit Union make 2nd chance mortgage loans available when so many banks automatically close their doors – and their vaults – to people with an imperfect credit or home ownership history? Because as a credit union, CCCU is a different entity with a different agenda.
If you've never been a member of a credit union, you might be surprised to know that unlike banks, which are run by shareholders who demand profit, Clark County Credit Union is a non-profit financial co-operative run in a democratic manner by its members. Every member flexes the same vote, regardless of their account balance.
Credit union members expect – and receive – better rates, a full array of financial services and superior service. While banks focus on building profits, credit unions flourish by building relationships. CCCU's 2nd-chance mortgage loans are a natural extension of this philosophy.
Still, it would be wrong to assume credit union members turn a blind eye to investments. Far from it. In fact, CCCU members recently made some outstanding financial decisions and shared in a $3 million bonus dividend last year. When you open an account at CCCU, you become a member/owner.
Borrowers become automatic CCCU members
When you sign a 2nd chance mortgage loan with CCCU, also receive membership in the credit union, opening the door to future dividend payments and CCCU services including:
- Certificates of deposits and IRA certificates
- Credit cards with no annual fees and low interest rates
- Direct deposit services
- Financial education and counseling services
- Highly competitive interest rates on savings accounts, CDs and money market accounts
- Investment services
- Low cost checking with low or no minimum balance requirements
- Low-interest rates on vehicle loans
- Notary services
- Free Online and Mobile banking with bill pay
If you need a fresh start, turn to the people who understand your predicament and will do all they can to help: the team at Clark County Credit Union. Call 702-228-2228 option 1, to start your 2nd chance mortgage loan today.