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No Points, No Closing Costs Mortgage

Need a break from mortgage fees?

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At Members First, we're like little home loan champions - here to save the day! We're small enough to get to know you, which lets us make a big difference in your finances.

That's what inspired our No Points, No Closings Costs Mortgage.* We heard from members who knew they could afford a mortgage payment; they just couldn't get over the hurdle of paying upfront costs. So we designed a mortgage that let our members purchase their own home, even without points or closing costs.

If you're in the market for a new home or have decided to refinance to lower your payment, the No Points, No Closing Costs Mortgage features:

  • Zero points
  • No Closing Costs
  • Fixed rate financing
  • Competitive rates
  • Local servicing
Whether you want to find out more or you're ready to apply now, we're here to help.

If you have any questions or would prefer to complete a printed application, please contact a mortgage representative by email or phone at (800) 860-3832 or (603) 622-8781, ext 770.

The Fine Print
An appraisal fee of $500.00 will be collected upon credit approval and reimbursed at the time of closing.

No Closing Costs are incurred on Fixed Rate First Mortgage Loans with the following requirements: (1) No Closing Cost program is selected at application; the rate for this product is higher than the traditional rate. (2) Loan amount is $100,000.00 or greater. (3) Property is a Single-Family Primary Residence or Second Home. (4) All Borrowers have a credit score of 680 or better on 2 out of 3 credit bureaus. (5) Home is not listed for sale. (6) Member selects auto-transfer from a Members First account as a payment method. (7) Maximum Debt-to-Income ratio of 43%. (8) Loan meets investor requirements for Loan-to-Value, Mortgage Insurance approval if required, credit profile, appraisal, and title.

At closing, a credit equal to the amount of the third-party bona fide charges will be reflected on the HUD Settlement statement, subject to the following exceptions: Fees for owner's title insurance or state transfer taxes (if transaction is a purchase) are not included in the No Closing Cost Program, and are the responsibility of the borrower. If the title is held in a trust, fees for trust review and trustee certificate preparation and recording will be incurred by member. Fees for additional title work or documentation to correct title defects will be charged at the time of closing and are not covered by the No Closing Cost program. Escrow Deposits and Interim interest from the date of disbursement to the 1st of the following month will be charged at the time of closing and are not covered by the No Closing Cost program. The appraisal fee will be collected at the time the appraisal is ordered. When this happens, you will be credited at closing for the amount of the appraisal fee collected. No refund of appraisal fee if loan does not close. If Mortgage Insurance is a requirement of the loan, the Mortgage Insurance premiums are not covered by the No Closing Cost Program. Homeowners insurance is a requirement of the loan and the cost of the insurance is not covered by the No Closing Cost program. If flood insurance is required, it is not covered by the No Closing Cost Program.

Offer subject to change at any time.


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