Page Banner image

Whether you’re still saving up or your money’s tied up in other investments, there may be times when putting down 20% isn’t an option.

For a transaction in which the borrower isn’t putting 20% down, many conventional lenders will require costly private mortgage insurance. Spectrum Credit Union helps you avoid this expense with an 80-10-10 mortgage. Put down as little as 10% — no private mortgage insurance required.*

Key features:

  • Put down as little as 10% of purchase price
  • Take out 80% of your purchase price in a first mortgage
  • Take out 10% of your purchase price in a second mortgage

Requirements:

  • Available for jumbo and conforming loans with no prepayment penalty
  • Borrowers’ credit scores must be at least 660 with up to 50% debt-to-income ratio
  • Total purchase price must not exceed $1 million

More information

Our Mortgage Relationship Managers are here to help you every step of the way. Please call our Home Loan Help Desk at 888-750-4124. For those outside the U.S., call 510-251-6010. 

To check your pending application status, simply log in to your existing application.

* Subject to credit score. All loans are subject to approval. Terms are subject to change at any time and without notice. The program may be used for owner-occupied properties only.

Ready to become a member? Let’s get started.

If you’re eligible for membership, we’re ready to hear from you. Not sure if you’re eligible? You can check if you qualify here.

Why join Spectrum Credit Union? Learn more.

From everyday finance to life’s big money moments, it’s better when you belong.