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Educator Home Loan

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Educator Home Loan

Since the rollout in 2016, the Educator Home Loan program has been very popular with home buyers. During that time we have been able to donate over $10,000 back into the educational communities we serve!

Whether you are a first-time home buyer or looking to upgrade, we have an option for you! Reference below to learn more about the specifics of the program.

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Benefits / Requirements

The Educator Home Loan Program through ISU Credit Union entitles the eligible applicant(s) to complete a mortgage loan with no origination fee (1% of the loan amount) and lender fees ($491.00) waived*.  This program only applies to primary resident conventional mortgage loans.  To be eligible, at least one borrower must be employed by any of our educational partners currently, at the time the loan is applied for and completed.


15, 20 and 30-year No Lender-Fee Loan*
- No origination fee (1% of the loan amount: $100K Loan = $1K in savings)
- Lender fees waived* ($491.00)

  • Underwriting Fee of $200.00
  • Processing Fee Of $150.00
  • MERS Fee of $11.95
  • Credit Report Fee of $29.05
  • AUS Fee of $15.00
  • Flood Certification Fee of $10.00
  • Tax Service Fee of $75.00

Potential savings of $1,500 or more based on loan amount!


Donation to Your School of Choice**
So many programs today are underfunded – we are here to help. The Educator Home Loan entitles the borrower to obtain a donation from ISU Credit Union to their preferred school program for $250. Pick any program you want (softball team, science lab, library, teachers lounge, etc.) and make it better! It's our way of saying "Thank You"!


*Requirements
To be eligible for the Educator Home Loan Program, at least one borrower must work for any of our educational partners (Including Idaho State University, local school districts, etc) currently and at the time the loan is applied for and completed. This program only applies to primary resident conventional mortgage loans. Member is responsible for appraisal fees dealing with home loan. For sellable loan types, you must have been working at the school for at least one month. All industry loan underwriting requirements apply. That would include maximum loan to value, debt to income ratio, full documentation, etc. Rate would be determined using the same criteria as a normal mortgage loan. Additional restrictions and conditions may apply with this mortgage loan. Rates, terms and conditions subject to change without notice. Please see an ISU Credit Union Mortgage Loan Originator for complete details

**Donation to School of Choice. For school donation disbursement of $250, we require request to be submitted in writing. Once received in writing, funds will be sent directly to the program of choice. 

Donation to School of Choice

Donation to Your School of Choice**
So many programs today are underfunded – we are here to help. The Educator Home Loan entitles the borrower to obtain a donation from ISU Credit Union to their preferred school program for $250. Pick any program you want (softball team, science lab, library, teachers lounge, etc.) and make it better! It's our way of saying "Thank You"!

**Donation to School of Choice. For school donation disbursement of $250, we require request to be submitted in writing. Once received in writing, funds will be sent directly to the program of choice. 

How to Apply

Mortgage Applications

Online

New: Application

Returning: Application login

Print

Download: Loan Application

Phone

208.235.7100

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The Home Loan for Educators!

No fees - amazing service - plus you get a $250 to donate to your school of choice....
Posted By: Brent T.
814 days 11 hrs 14 mins 39 secs ago
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