Your home is the most important purchase you will make in your lifetime. Do you really want to trust your home mortgage to an internet site? At First Abilene Federal Credit Union you talk with real people. Our mortgage team will sit down face-to-face and design a mortgage plan that is right for you. Make the move to First Abilene, contact our Mortgage Team today!
Fixed Rate Mortgages
- Interim Construction
We offer 10, 15, 20, and 30 year fixed rate mortgages. The interest rate remains the same for the duration of the loan. Our rates and terms are competitive, plus we offer fast turnaround with timely processing. We can furnish you a pre-qualification letter on you mortgage request within minutes of receiving your application information. Lower interest rates are available with good credit scores and larger down payments.
Conventional loans with a 95% LTV (Loan-to-Value) are still available for buyers with acceptable credit scores and approvable ratios. Buyers must have a minimum of a 5% down payment from their own funds. The seller is limited in paying 3% of buyer’s closing costs.
FHA loans are also available with as little as 3.5% down. The seller can pay up to 6% of buyer’s closing costs.
VA loans are available to qualified veterans with up to 100% financing.
Land loans are available with 20% down and a maximum 15 year term.
Interim Construction loans can help you build your dream home with a 90% LTV and 6 month term available. No monthly payments are required until completion.
For the larger loan amounts on home purchases and refinances, jumbo mortgages are still available. Although interest rates are usually higher than on conforming loans ($417,000 or less), rates are still affordable.
First Abilene FCU does not offer financing for manufactured housing.
Bi-weekly & semi-monthly payments are available on our loans so you do not have one large payment due each month. You can save substantially on interest and pay your loan off early!
To download a Mortgage Loan Application, click here.
Download a Home Loan Checklist!
Helpful Mortgage Documents