For a conventional mortgage, you have several down payment options starting as low as 5% of the sales price. If your down payment is less than 20% of your home's value, Private Mortgage Insurance (PMI) is required. Examples of Down Payment Options 95/5 Financing 95% of your loan is financed with OU Credit Union 5% down payment paid by applicant Private Mortgage Insurance Required 20% Down 80% financed with OU Credit Union 20% down payment paid by applicant No Private Mortgage Insurance
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Oakland University Credit Union
savings are Federally insured to at least $250,000 by the
and backed by the full faith and credit of the United States Government.
APR = Annual Percentage Rate. APY = Annual Percentage Yield.
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