SECU of Maryland joined the limited number of credit unions offering to finance 100% of a real estate purchase.

The $2.8 billion institution, based in Linthicum, Md., said the borrower would still have to put down the lessor of $1,000 toward closing costs or 1% of the sale price. Members eligible for the 100% LTV mortgages will also need a good credit score, the credit union said, and demonstrate an ability to repay the loan. Also, borrowers can only use the loan to purchase primary real estate and cannot own any other real estate at the time of application.

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