Investment Properties


What is an Investment Property?

An investment property is:

  • Non-owner occupied
  • Used for earning a return
  • Common practice is renting and/or flipping


Email information decided by website developer


Why should I use WCCU?

  • Lower Closing Costs
  • No intangible taxes
  • In house underwriting and decision making

What will you need from me?

  • 2 most recent years tax returns
  • Personal Financial Statement (provided by a loan processor)

What will get me approved?

We make our decision based on the 3 C’s:

  • Character (Credit Score)
  • Collateral (Loan to Value)
  • Capacity (Income /Expenses)

How Much Can I Finance?

75% of Purchase or Appraisal Price (Whichever isless)


$75,000.00 loan for a $100,000.00 house.

What Makes Us Different

  • Closing Fees:
    • ½ point origination fee
    • $12.00 flood fee
    • $30.00 wire fee
  • Exemption from intangible taxes
  • In house underwriting and decision making

Example of lower closing cost

Also, the industry average loan origination on a $200,000.00 property is 1 point which equals $2,000.00. WCCU charges a ½ point loan origination which equals $1,000.00.

Intangible Taxes

Members of credit unions, such as WCCU, do not pay intangible taxes on their loan amount. This saves the members $3/dollars per thousand of their loan amount from closing cost. Why do bank

customers have to pay i

ntangible taxes on their loan amount but credit unions members do not

have to pay intangible taxes. It is because credit unions are considered non


profits and are

therefore tax exempt. This savings is passed on to the member. So. If the

loan amount is


,000, the members saves $600 in intangible fees versus a bank customer.

Balloon Notes

Banks can avoid intangible taxes by ballooning your mortgage loan every 35 months. WCCU

shortest balloon period is 60 months


no intangible taxes. With WCCU, you ca

n extend the


of not having to go thru the cost and aggravation of a mortgage closing by 25 months

versus a bank.