Buying a home is one of the most exciting purchases you will make. Providing you with the right financial tools to make this purchase is part of the OHecu mission to assist you in enhancing your financial well-being.
When it's time to look for a new home or to refinance the loan on your existing home, OHecu provides you with a choice in Mortgage Loan products and an easy application process.
Also, when the need arises to take advantage of the equity you have in your home, OHecu is ready to provide you with a convenient tool to make use of your home’s accumulated equity.
1st Mortgage Loan Products
OHecu provides loans for residential property purchases. A variety of product terms are available. Don't forget that you can be pre-approved for a Mortgage Loan before you even start looking for your home.
- Fixed Rate Mortgages
- Adjustable Rate Mortgages (ARM)
- FHA Loans now available
- USDA Rural Housing Loans now available
- Purchase or Refinance Loans up to $417,000
- Investment Property Mortgages
- First Time Home Buyer and My Community programs available with up to 97% financing option
- Jumbo Loans
OHecu now offers FHA (Federal Housing Administration) loans as just one more way of finding a mortgage solution that best meets the needs of the individual member.
These government backed loans are available to those with “less than perfect” credit or of low to moderate income, offering a minimum down payment of 3.5% and allowing the funds to come from many different approved sources.
Home Affordable Refinance Program (HARP)
OHecu is participating in the Home Affordable Refinance Program (HARP) to assist members in refinancing their mortgages—even if the member owes more than the home's current value. This program is designed to help members who are current on their mortgages and have lost equity in their homes due to no fault of their own. These members may have an opportunity to refinance their home loan at today's historically low mortgage rates
||Martin Smith—Mortgage Loan Consultant
Martin Smith is OHecu’s Mortgage Loan Consultant. He has over 10 years experience as a loan originator, 7 years in the Mortgage Banking industry, was a licensed Real Estate Agent and has a Bachelor’s degree in Business Administration.
Contact Martin for an appointment to meet at a time and place of your convenience, or stop in and see him at our Main Office. Martin can be reached at:
Martin is a life long Cleveland resident, attended St. Ignatius High School, and currently lives in the Cleveland’s Ohio City neighborhood with his wife Rhonda.
The home loan checklist includes the documents that you will need to have available when the 1st Mortgage Loan Application is completed.
- Prior year W2s or Federal Tax Return if self-employed
- Most recent pay stub showing year-to-date earnings
- Documents of other income sources that will be considered in the repayment of the loan
- Most recent statements for Checking, Savings and Investment Accounts
- Listing of all outstanding loans, credit cards and other debts
- A gift letter from the person giving you any gift of money or property to assist you in the purchase of your new home