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Loan products offered | Conventional, Jumbo, Home Equity/HELOC, Refinance |
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Minimum credit score | Conventional: 620 |
Minimum down payment (Conventional) | 3% |
State availability | Only available in: AL, AR, CO, FL, GA, IL, KS, MO, NC, SC, TN |
NMLS # | 684198 |
To see if you’re eligible for a First Community Credit Union home loan, visit the company’s website. Borrower eligibility and loan availability by state includes:
When applying for a mortgage with First Community Credit Union, be prepared to provide copies of the following documentation and/or information where applicable:
Self-employed borrowers should also be prepared to provide:
First Community Credit Union doesn’t charge application, processing or underwriting fees. However, you’re still required to pay closing costs, which can range anywhere from 1.3% to 4% of your total loan amount. Closing costs typically include:
To apply for a home loan with this credit union:
If you’re not ready to submit a full application and want to speak with a loan representative first, contact the First Community Credit Union mortgage department directly at 636-728-3380 or 888-642-7969, or send an email to mortgage@firstcommunity.com.
First Community Credit Union also offers these specialized types of mortgages:
Compared to other lenders, First Community Credit Union offers a standard range of mortgage options and a few specialty loans, like its first-time homebuyer program with no PMI. The credit union also offers home equity loans, HELOCs and cash-out mortgage refinancing for borrowers looking to tap into their home equity. But unlike other lenders, First Community doesn’t offer government-backed FHA, VA and USDA loans.
Use our handy tool to compare estimated rates you might qualify for among top partners in your quest for the strongest home loan or home equity product. Select between the Purchase or Refinance options, then enter your ZIP, financial details, property type and other specifics to get personalized rates.
As of July 2021, First Community Credit Union has a 3.6 out 5 rating on WalletHub from 28 reviewers. Reviews are mixed, where over half of customers praised the credit union for its personalized, friendly and helpful in-person service, whereas others complained that the credit union wasn’t flexible in resolving issues related to loan payments and funds access.
First Community Credit Union has been accredited with the Better Business Bureau (BBB) since 2000. It has an A+ business rating, a 1- out of 5-star rating from seven customers and 18 complaints closed in the past three years.
Overall, the majority of customer complaints center on bill payment issues and a lack of flexibility from customer service. We found one complaint related to mortgages, mentioning a lost $900 rate-lock fee after a mortgage refinance didn’t close at the last minute.
First Community Credit Union might be a good choice for your mortgage and refinancing needs, but consider the perks and downsides first.
Founded in 1934 and headquartered in Chesterfield, Missouri, First Community Credit Union was known as Monsanto Credit Union prior to 1983. It was originally established to serve customers in Missouri and Illinois, but now offers financial services in multiple states. According to the company’s website, it has nearly 350,000 members, 38 retail branches and over $3 billion in assets.
Review by
Kat Aoki is a writer at Finder focusing on cryptocurrency, mortgages and personal finance products. Since 2011, she’s written hundreds of thoughtful and informative articles to help consumers make better decisions with their money. She’s well versed in working with leading brands in the finance and mortgage industry, including AMEX, Citibank and RealEstate.com.au. She earned a BS in Business Administration and Marketing from California State University and enjoys travel, hiking and yoga in her spare time.
First Community Credit Union may be a good choice if you’re after low rates or live in Missouri or Illinois and want in-person service at a branch. The credit union offers a range of home loans and competitive interest rates on its mortgages and home equity loans. But you won’t find any government-backed options and home loans are only available in select states.
If First Community Credit Union doesn’t have what you need, compare more lenders to find the right one for you.