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 real estate 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 Real Estate Team today!
Get pre-qualified now!
Prequalification means we provide an estimated amount you can afford for your mortgage based on the information that you give us. This is an informal process and does not represent a commitment from the lender to loan you the amount you have been prequalified for.
Prequalification is important because it gives you an idea of what you can afford. This estimate helps to ensure that you are looking at houses within the price range that you qualify for. It also assures your real estate agent that you are a legitimate buyer.
Once we complete the initial assessment of your finances, we will provide you with a prequalification letter listing the estimated home value you can afford.
Complete a Pre-qualification Application and submit with your most recent paystubs to email@example.com or by fax to 325-690-1035.
Once you’ve been pre-qualified, get ahead by working through our Home Loan Checklist.
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.
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 ($548,250 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!