Mortgage Types

Chaco's team of mortgage professionals can help you identify the right mortgage for you. However, if you’re interested in learning more about the different types of mortgages and their individual nuances, the following provides a more thorough breakdown of each.


Ask us about our No Closing Costs options.

Conventional mortgages are established as a loan between you (the borrower) and Chaco Credit Union (the lender). Conventional Mortgage loans can be fixed rate loans or non-fixed rate loans. Downpayment can be as low as 3% on these types of loans.

FHA Loans.
The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so Chaco can offer you a better deal.

  • Low down payments
  • Low closing costs
  • Easy credit qualifying

Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.

VA Loans.
VA helps servicemembers, veterans and eligible surviving spouses become homeowners. As part of our mission to serve you, we provide a home loan guarantee benefit and other housing-related programs to help you buy, build, repair, retain or adapt a home for your own personal occupancy. VA home loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan, enabling Chaco to provide you with more favorable terms.

USDA Loans.
Single-family housing programs provide homeownership opportunities to low- and moderate-income rural Americans through several loan, grant and loan guarantee programs. Visit the following site for property elegibility. 

USDA Link 

Our Difference is Simple

When it comes to your financial plan, we understand what you need now and more importantly, what you need tomorrow. We are here to help you get the most out of both. Whether just starting out or preparing to retire, we help you become financially prepared and fully informed. At Chaco, we bring you the same expertise and competitive services as other institutions, but with the compassion and genuine care that can only come from being member-owned and operated. From CDs and savings to mortgages and more, we work to keep things simple when it comes to your finances – so you can focus on your life. And that makes a difference.