Home Loans

Lock in a mortgage rate and payment. Available for your primary home, including mobile homes.

• Up to 30-year term

• Fixed-Rate APR* Mortgage

• Borrow up to 80% of the appraised value without Private Mortgage Insurance, not to exceed $600,000 (certain qualifications apply) 

• No prepayment penalty

Our low down payment and flexible payment options make it easy to purchase your perfect piece of property.

• Terms up to 15 years

• Borrow up to 90% loan-to-value (LTV) of the vacant land, not to exceed $150,000 (certain qualifications apply) 

• No Private Mortgage Insurance (PMI)

• No prepayment penalty

Pay less for your existing loan! Let our Mortgage Team help you save money by moving your loan from another lender to ULFCU. 

• Refinance up to 80% of appraised value without Private Mortgage Insurance

• Choose from fixed-rate and adjustable-rate mortgage options

• No prepayment penalty

• Lower your monthly payment*

• Get cash out to pay other debt

• Pay off your mortgage sooner

• Convert a variable-rate mortgage to a fixed-rate mortgage

Whether you’re buying your first home, making a move, want to refinance your current mortgage, or need to tap into your home’s equity, ULFCU has money-saving options. Call (337) 482-6956 now to schedule an appointment, discuss rates, or request a free mortgage comparison!

A great option for first-time home buyers. 

• Down payment may be required

• Down payment and closing costs assistance program available for new home purchases

• Assists qualified low- and moderate-income home buyers obtain an affordable first-time home mortgage loan through a private lender

• Up to $11,000 loan, which may be applied toward down payment and/or closing costs

• Secured by a second mortgage and carries a term of 15 years (180 months)

• Participants must meet income requirements and must purchase a home within Lafayette Parish

Use the equity in your home to fund renovations or other personal expenses. Considered a first mortgage (if the home is paid for) or a second mortgage (if an existing mortgage exists on the home) with its own term and repayment schedule.

• Up to 15-year term

• Borrow up to 90% loan-to-value (LTV) of the home, less any first mortgage recorded

• No down payment required

• Choose from fixed-rate and adjustable-rate mortgage options*

Here is a list of documents you and your co-borrower(s) need to provide to begin the home loan application process. Additional documents may be needed later. 

Application

• Completed application with borrower and co-borrower signatures

Income & Tax Documents

• Pay stub(s) for the previous 90 days

• W-2 forms for the previous two years

• Federal income tax returns (personal) for the previous two years, including all schedules

• Account statements for the previous three months on all checking, savings, stock, mutual funds, IRAs, or other liquid asset accounts

• Written explanation if employed less than two years or employment gap within the last two years

Property Information

• Home purchase sales contract signed by you and the seller/all parties (if available)

• Current homeowner’s insurance policy and flood insurance, if applicable

Special Circumstances (If Applicable)

If You Are Self-Employed Or Own A Business

• Federal income tax returns (personal) for the previous two years, including all schedules

• Federal income tax returns (business) for the previous two years, including all schedules

Credit Verification

• Explanation letter for late payments, collections, judgments, or other derogatory items on credit history (if applicable)

• Source of funds documentation for any large deposits on asset or bank statements (if applicable)

• Judicial decree or court order for each obligation due to legal action (if applicable)

• Bankruptcy/discharge papers for any bankruptcies in credit history (if applicable)