Financial Samurai - Forums

Real Estate Investing => Managing And Investing In Physical Real Estate => Topic started by: pat on September 20, 2018, 10:47:27 AM

Title: Zero down Loan from NASA FCU what is the catch
Post by: pat on September 20, 2018, 10:47:27 AM
Does anyone know what is the catch with this?
https://www.nasafcu.com/zerodown/
Title: Re: Zero down Loan from NASA FCU what is the catch
Post by: Orphan on September 20, 2018, 03:38:05 PM
Looks like a great deal. After a quick glance it looks it is only offered in about 18 states with 4 states specific as new construction only. I wonder what the member requirements are..? Need to be an employee of family member of NASA.
Title: Re: Zero down Loan from NASA FCU what is the catch
Post by: sevenplaces on September 26, 2018, 06:18:43 AM
It is true you do have to be a member and that it is valid in only certain states. 
***Programs only available in the following designated areas: CO, CT, DC, DE, MA, MD, ME, MN, NC, NH, OR, PA, RI, TX (new purchases only), VA, VT, WA & WV.

However, there are several ways to become a member.  The last one listed below allows you to join without having any direct affiliation to NASA.
[source: https://www.nasafcu.com/membership-old/]

There are several ways you are eligible for NASA Federal Credit Union membership:
I am an employee or retiree of NASA Headquarters, any NASA Center or Facility, or NAS.
I am an employee or a member of one of 900 NASA Federal Credit Union partner companies or associations.
I am a relative or household member of a current NASA Federal Credit Union member.
Help me open an account another way. A complimentary membership to the National Space Society (NSS) entitles you to join NASA FCU.

If I lived in one of the target states for the offer and were refinancing my house, I would consider membership in NASA FCU.
Robert