VA Loan

You may join Hughes Federal Credit Union if you:

• Live, work, worship or attend school in Tucson
• Are employed by one of our Select Employer Groups
• Have a family / household member who is a member of Hughes: Family member – a spouse, child, sister/brother, parent, grandparent, grandchild, stepparent, stepchild, stepsister/brother, or adopted child. A household member is a person living in the same residence sharing household expenses.
• Make a small donation to one of the following community Special Interest Groups:
  • Friends of the Oro Valley Public Library
  • Friends of the Pima County Public Library
  • Friends of the Kirk Bear Canyon Library

Applying for a mortgage can seem like an overwhelming task, but the professionals at Hughes are experienced and available to make the process as stress-free as possible. Watch our video on mortgage application or read our step-by-step guide:

STEP 1: PRE-QUALIFICATION

Most realtors require a pre-qualification form from your lender to begin showing properties, but the benefit to you is personal guidance from our mortgage professionals on selecting your best price range, based on the financial information you provide. This step can be completed online or over the phone with one of our mortgage professionals, and does not include credit verification.

Follow these tips for the best results:

• Understand your current financial standing (i.e. credit scores, debits, and assets).
• Calculate the amount you have for a down payment.
• Determine how long you plan to stay in the home.
• Do not misrepresent the facts in the pre-qualification process. It could derail your home buying process in the income to debit ration verification step.

Run your own preliminary calculations using our special tools or call 520-794-8341 to schedule your free pre-qualification meeting today.

STEP 2: SCHEDULE AN APPOINTMENT AND GATHER YOUR DOCUMENTATION

You’ll need the following information and documents to complete your mortgage application. Please plan to bring these items, for everyone who will be named on the mortgage, to your appointment with a mortgage representative:

• Proof of address for your current residence, as well as the previous two years.
• Social Security numbers.
• Employment history, with names, addresses, and phone numbers of current employer, as well as for the previous two years.
• Bank and account information, including current balances.
• Investment information, including if you currently own another home or property. The lender will need to know that address, current market value, and the amount owed on an existing mortgage.
• Your current debt, including the name of creditors, account numbers, current balances and monthly payment amount.
• Tax returns for the last five years.

STEP 3: COMPLETE THE MORTGAGE APPLICATION

You’ve been pre-qualified and now you’ve found the home you want to buy – make it official. Applying for a loan can be done in person or online here.

STEP 4: PRE-APPROVAL AND PROCESSING

Once the income to debit ratio has been verified, Hughes Federal Credit Union will issue approval on your loan request and evaluate the property you are interested in purchasing.

STEP 5: FINAL APPROVAL AND FUNDING

The paperwork has been completed and you are ready to move forward with closing on your new home!