A Mortgage Option That Helps You Keep More of Your Money
We believe that home financing should open doors without adding unnecessary costs. The Cobalt Zero PMI Mortgage provides qualified borrowers with a conventional mortgage option that eliminates private mortgage insurance (PMI), offering flexible financing for both home purchases and cash-out refinances.
- No PMI*
- 0% down payment
- Up to 100% financing on conventional loans
- Up to 90% financing on conventional cash-out refinances
*Up to 100% loan-to-value (LTV) available for purchase and rate-and-term refinance; up to 90% LTV for cash-out refinance. Property must be a primary residence. Loan amounts from $50,000 to $500,000. Minimum credit score of 700 required. Minimum of three established tradelines (open or closed accounts). Maximum debt-to-income ratio of 45%. Two months of PITIA (principal, interest, taxes, insurance, and assessments) required; gift funds can be used to meet this requirement. The property must be located in Nebraska or Iowa and within Cobalt Credit Union’s lending area.
Additional conditions and exclusions may apply. All programs, rates, and terms are subject to credit approval and may change without notice. Certain underwriting requirements must be met. Closing costs, buyer costs, and escrow fees may apply. For full details, contact Cobalt Credit Union at (800) 228-0392.
