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Frequently Asked Questions

Simply apply online through our secure online system by clicking the Apply Now button above.  If you prefer to speak with a loan officer contact us at 800-283-MYCU (6928).

What is a P&I payment?

How can I start my application?

P&I is the combined principal and interest you pay your lender each month. The principal amount repays a portion of the amount of money originally borrowed. The interest amount pays the monthly interest accumulated on your outstanding balance. Your total payment will typically include additional items, such as, real estate taxes and insurance premiums.

What is an origination charge?

The origination charge is the amount charged for services performed on the initial loan application and loan processing. This includes all charges (other than discount points) that lenders and brokers involved in the transaction will receive for originating the loan. It includes any fees for application, processing, underwriting services, and payments from the lender for origination.

What are points?

Points (sometimes referred to as discount points or mortgage points) are paid to the lender, usually at mortgage closing, in order to lower the interest rate. One point equals one percent of the original loan amount.

Why does my lender require homeowners insurance?

Homeowners insurance is an insurance policy that protects both you and your lender in case of loss or damage to your property.  The insurance company is chosen by you and the monthly homeowners insurance premium is often included as part of the monthly mortgage payment.

We have the perfect loan to match the home of your dreams! Whether you’re purchasing a new home or looking to refinance your current loan for a lower rate, we make the process simple and help you find the perfect loan to fit your budget.

We offer a variety of mortgage loans with competitive rates. Our friendly mortgage specialists can help you with a home loan to meet your financial goals.

We offer Conventional, FHA, VA, Jumbo, USDA, and unique loans to meet your specific needs!

Click Apply Now to submit an application!

If you prefer to speak with us first please call:

800-283-MYCU (6928)

or Contact Us below

*This is not a commitment to lend. All lending products are subject to credit and property approval. Terms, conditions, and interest rates are subject to change without notice. Certain restrictions may apply and may vary based on borrower qualification and collateral conditions. Refinancing an existing mortgage loan may cause the total finance charges to be higher over the life of the loan. Additional restrictions may apply. Member First Mortgage, LLC is a partner of My Credit Union. For the Texas Mortgage Banker Complaint/Recovery Fund Notice, please visit MFM’s licensing and state disclosure information on the Member First Mortgage, LLC licensing website. My Credit Union: 13016 Hwy 287, Haslet, TX 76052 | (469) 387.7130 | NMLS ID: 806506. Member First Mortgage, LLC Corporate Office: 616 44th Street SE, Grand Rapids, MI 49548 | (866) 898.1818 | NMLS ID: 149532 | For NMLS licensing information, please visit | Equal Housing Opportunity.