Low Down Payment Options
Reach your goal of owning a home.
Get a loan with a low or no down payment.
Our programs have lower closing costs than most banks or mortgage companies.
Our Home Loan Consultants can go over your options and help you choose the best loan for your needs.
Dreaming of buying a home, but not sure if you qualify? Our low down payment loan options can help you call a house a home.
Contact one of our experienced Home Loan Consultants today to discuss your options and get pre-approved. Connect with us today.
100% Financing Conventional Loans
- No down payment required
- To qualify, you need a strong credit history
- Your loan must have Private Mortgage Insurance (PMI)
- Fixed Rate and Adjustable Rate options are available with great rates and low closing costs
FHA Loans
- Minimum down payment of 3.5% of the home purchase price
- Your credit history does not need to be perfect to qualify
- Your loan must have Private Mortgage Insurance (PMI)
- Great Fixed Rates with low closing costs
VA Loans
- Certificate of Eligibility from the VA required for active-duty service members, veterans or surviving spouses
- No down payment necessary
- Your credit history does not need to be perfect to qualify
- No Private Mortgage Insurance (PMI) required
- Great Fixed Rates with low closing costs
Sikorsky Credit Union has been named the #1 Credit Union in CT for the past five years and offers membership to those living, working, volunteering or worshiping in Fairfield, New Haven & Hartford counties.
Today's Rates
Frequently Asked Questions
A lender will look at your credit and work history, income, and assets to determine the maximum purchase price/loan amount you are qualified for based on current market interest rates. Once you get pre-approved, you’ll receive a letter stating how much you are qualified for (based on the information you provided).
It is important to remember that the amount you are qualified for can change if your circumstances change or if interest rates change. A mortgage pre-approval is very helpful when establishing your budget, and it makes you more attractive to sellers. If you are searching for new home, it makes sense to get pre-approved and provide your Real Estate Agent with your pre-approval letter so they can start showing you homes.
The mortgage pre-approval process is a much more thorough review of your finances. Your loan officer will pull and review your credit and complete a comprehensive review of your work history, income documentation (W-2’s, tax returns), and available assets (bank and investments statements). Getting pre-approved will help you make an offer with confidence knowing the lender has most of the information needed to make a loan decision that is not associated with the property (i.e., appraisal, title search, homeowner association rules).
Getting pre-approved at Sikorsky Credit Union is quick and easy! Some of the documents you will want to get ready include:
- Personal identification
- Most recent month of pay stubs
- Last two months of bank and asset statements (all pages)
- W-2's from the last two years
Once you have everything you need, you can contact a Home Loan Consultant directly to schedule a face-to-face appointment at one of our branch offices. Or, if you prefer, you can apply online and someone will be in touch. Our Home Loan Consultants live and work in the communities we serve and offer personalized service tailored to your individual needs. They will be with you from start to finish to answer any questions you may have and guide you along the way. Once you are pre-approved, you will receive your letter and you can let your home buying journey begin.
Buying A Home Just Got Easier
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