Young couple hug holding keys to their new home

100% Financing Mortgage Home Loan

Purchase your new home with zero down payment

At Members Choice Credit Union, we feel that a financially responsible payment history should count for something and that not having the funds for a down payment should not stand in the way of homeownership. Our 100% financing fixed-rate mortgage loans were designed for homebuyers looking to purchase with no money down.1
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No down payment required

Get 100% financing, plus, low closing costs to save more and get into a home sooner. 15, 20 and 30-year fixed-rate terms available. View our rates.
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No mortgage insurance required

Most lenders require mortgage insurance unless you can make a down payment of 20%. This loan does not require MI, which saves you money each month.
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Local loan servicing and advice

Our personal loan advisor will make your home buying experience easy and stress-free. We’ll never sell your loan and will service it locally through your entire term. 

Making homeownership more affordable

Stop paying rent and start building equity

No down payment required to help you buy a home sooner

Our Choice100 Mortgage is a 100% financing conventional mortgage option with great benefits for home buyers who qualify for a mortgage, but don't have the available savings for a down payment. By purchasing a home with no down payment, you may be able to get the home you want sooner without waiting years to save for your down payment.

Gain more buying power with no mortgage insurance requirement

Most home loan programs require mortgage insurance (MI) if you are purchasing a home with less than 20% down. That insurance can cost you hundreds of dollars per month, in addition to your regular mortgage payment. By eliminating the mortgage insurance requirement, you will reduce your total monthly payments, helping you to qualify for a larger purchase price.

Get started with an estimated rate quote – No credit pull required

Fill out the short form below to get a call back from a Mortgage Loan Officer within the next business day.

Ready to get your mortgage loan started?

Start your Application Online

Apply by Phone

Call us at 281.754.1103 to start a new loan by phone

FAQs about 100% Financing Fixed-Rate Mortgage Loans

Yes, applying for a mortgage loan before you find a home may be the best thing you could do.  When you apply in advance, you are issued a pre-approval letter subject to you finding your new home. You can use the pre-approval letter to assure your real estate agent that you are a qualified buyer and that you are looking in the right price range to fit your budget.  Having been pre-approved for a mortgage may also give more weight on any offer you make.
No, Members Choice does not require mortgage insurance for this financing option.

Mortgage Insurance (also referred to as MI or PMI) is insurance that a buyer pays to protect the lender in case your loan ends up in foreclosure. Though most lenders require PMI for home purchases with down payments of less than 20%, Members Choice Credit Union does not require MI on this 100% financing options, which can keep your monthly payment lower.
Common types of mortgage fees include origination, application, credit report, appraisal, processing and underwriting. Applicable fees will be listed on your loan estimate form, which you'll receive after applying for a mortgage.

Members Choices does not charge a fee to complete an online application for any of our Mortgage loan products. 

Our promise is to provide a high level of service and work in your best interests:

  • We have personalized customer service that aims to meet your personal needs
  • Our member service team offers a local person to talk to and provide faster service
  • You're a member, not just a number
  • We try to make the home buying experience a great one – easy and stress-free
  • We’ll never sell your loan and will retain servicing for the life of the loan

More Mortgage FAQs

Mortgage Resource Center

Free Home Buying Guide

Get our guide for finding, buying and financing a new home for yourself or a family member  

“Your Home Loan Toolkit” can help you shop for a mortgage with confidence

Written by the Consumer Financial Protection Bureau (CFPB), this toolkit serves as a step-by-step guide to help you find your best mortgage.

Your Home Loan Toolkit Guide (PDF)


APR = Annual Percentage Rate.

1100% Financing Fixed-Rate Mortgage: Purchase for primary residence Single Family Home or Townhome located in Texas only. Manufactured homes, and Condominiums not allowed. Our maximum loan-to-value is 100% with a 43% maximum DTI and a minimum 680 FICO. Requires minimum of two years employment in same industry. No history of bankruptcy or foreclosures. Appraisal fee collected at time of ordering. $50,000 minimum loan amount. $726,200 maximum loan amount. Rates shown are based on a $300,000 loan amount with a 740 FICO credit score.

If not currently a Members Choice member, a $5 deposit is needed to establish membership. All memberships and lending products are subject to approval including credit approval.