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Union City sits in the heart of Alameda County, where new restaurants and community investments are reshaping the region. The county's median household income of $126,240 supports purchases across a wide range of neighborhoods here.
Community Mortgages are designed for borrowers who want local expertise without the big-bank overhead. Call for current rates and monthly payment estimates tailored to your specific purchase price and down payment.
620
Minimum Credit Score
3% to 20%
Down Payment Range
30-45 days
Typical Close Timeline
$126,240
County Median Income
Community Mortgages in Union City
Community Mortgages typically require a credit score of 620 or higher and down payments ranging from 3% to 20%. The county's median household income of $126,240 sets the baseline for debt-to-income calculations on most loans.
Borrowers with limited savings can qualify with as little as 3% down. Those with stronger reserves and higher credit scores access better terms and faster approvals.
Local decision guide
Use this guide to connect community mortgages eligibility, lender expectations, and local market factors before comparing payment options in Union City.
Union City sits in the heart of Alameda County, where new restaurants and community investments are reshaping the region. The county's median household income of $126,240 supports purchases across a wide range of neighborhoods here.
Community Mortgages are designed for borrowers who want local expertise without the big-bank overhead. Call for current rates and monthly payment estimates tailored to your specific purchase price and down payment.
Community Mortgages typically require a credit score of 620 or higher and down payments ranging from 3% to 20%. The county's median household income of $126,240 sets the baseline for debt-to-income calculations on most loans.
Community Mortgages operate through local brokers and correspondent lenders across California. These lenders typically close loans in 30 to 45 days and offer more flexible underwriting than large national banks.
Broker-based lending means you work with a single point of contact from application through closing. Lenders in this space compete on service and speed, not just rate — that's where local advantage shows up.
Community Mortgages make sense for Union City buyers who value personal service and want to avoid big-bank delays. They're especially strong for borrowers with non-traditional income or credit that needs explanation — a local broker can advocate for you.
Above the $1,249,125 conforming limit, jumbo loans take over and require tighter credit and larger reserves. For purchases under that threshold, Community Mortgages often beat jumbo pricing and approval speed.
Conventional loans demand 20% down to skip mortgage insurance, while Community Mortgages allow 3% to 5% down with insurance built in. That flexibility opens homeownership for buyers who don't have a six-figure down payment saved.
FHA loans run lower rates but carry lifetime mortgage insurance on purchases with less than 10% down. Community Mortgages offer a middle ground: faster underwriting and no lifetime insurance penalty.
Six new restaurants recently opened across the East Bay, including Filipino, Mexican, and Nicaraguan cuisines. That kind of neighborhood investment signals growing demand and stable long-term property values in Union City.
Dublin City Council approved a 113-unit senior affordable housing project, and Berkeley's Measure W allocated $15 million for People's Park housing. These community investments matter to buyers planning to stay 10+ years.
Most Community Mortgages require a minimum FICO of 620. Scores above 680 open better rates and faster approval. Call to discuss your specific credit situation.
Yes — Community Mortgages allow down payments as low as 3%. You'll carry mortgage insurance, but you avoid the 20% down requirement of conventional loans.
Typical close timeline is 30 to 45 days. Local brokers move faster than big banks because underwriting is efficient and you work with one contact throughout.
Community Mortgages cancel mortgage insurance at 78% LTV. FHA insurance lasts the life of the loan if you put down less than 10%. Community rates are often competitive with FHA.
No — Community Mortgages are available to borrowers across California. You don't need to live in Union City; you just need to be buying investment or owner-occupied property here.