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Mortgage Resource Center

Get Prequalified
  • We’ve been working hard over the last few weeks compiling lists of resources that will be a starting point for a much bigger library that we hope to create long-term. The goal of our effort is quite simple – we want to provide as much education as possible – curated resources to both existing members and prospective members who are in the market but have yet to purchase a new home.


     

    100% Financing No Mortgage Insurance

    To Qualify: Full documentation of employment, income and assets. 680 or higher FICO score. 45% maximum debt-to-income. $400,000 maximum loan amount. 15 or 30 year term, fixed rate or ARM. Minimum 2 month reserves.

    100% Financing 20 Year Term

    To Qualify: Full documentation of employment, income and assets. 680 or higher FICO score. 43% maximum debt-to-income. $484,350 maximum loan amount. 20 year term, fixed rate or 5 year ARM only. 35% MI coverage. Minimum 2 month reserves.

    100% Financing 30 Year Term

    To Qualify: Full documentation of employment, income and assets. 720 or higher FICO score. 41% (700 FICO)-45%(720 FICO) maximum debt-to-income. $484,350 maximum loan amount. 30 year term, fixed rate or 5 year ARM only. 35% MI coverage. Minimum 2 month reserves.

    Bank Statement Program SE-ONLY

    To Qualify: Self employed (2+ years in same line of work). 740 or higher FICO score. 45% maximum debt-to-income. $484,351 maximum loan amount (JUMBO). 80% LTV. 30 or 15 year term – fixed rate or ARM. 24 months of bank statements. Minimum 3 month reserves.

    Bank Statement Program SE-CONF

    To Qualify: Self employed (2+ years in same line of work). 740 or higher FICO score. 45% maximum debt-to-income. $484,350 maximum loan amount (CONFORMING). 90% LTV. 30 or 15 year term – fixed rate or ARM. 24 months of bank statements. Minimum 3 month reserves.

    Bank Statement Program SE-JUMBO

    To Qualify: Self employed (2+ years in same line of work). 760 or higher FICO score. 45% maximum debt-to-income. $484,351 maximum loan amount (JUMBO). 90% LTV. 30 or 15 year term – fixed rate or ARM. 24 months of bank statements. Minimum 3 month reserves.

    Home Buying Process Wheel

    Home Buying Process: Meet with a Real Estate Professional. Get Pre-Qualified. Search For Homes. Make An Offer. Executed Contract and Escrow. Option and Earnest Money Delivery. Inspections and Repair Negotiations. Appraisal. Final Details. Walk Through. Closing Day.


     

    Mortgage Loan Interactive Lesson

    Explore how mortgage loans work through the AFFCU Financial Education Center. Learn the different types of mortgages, sources for obtaining a mortgage loan, and how to apply.

    Get Started

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