Routing Number: 307070021
Routing Number: 307070021

Purchase

AAFCU is here to be your trusted partner as you start the process of purchasing your dream home.

Overview

Our talented mortgage team is ready to listen to your needs and find a customized mortgage solution just for you. We are a full-service mortgage provider with the benefit of offering personalized solutions. Before you start looking for a home, get pre-approved to make the process as seamless as possible.

First-Time Homebuyer Programs

  • Douglas County DPA*
    • May qualify for down-payment assistance for first time homebuyers

    • Assistance in the form of a second mortgage at a subsidized interest rate

    • Generous income guidelines

    • Can be used for purchasing homes in Douglas County, Colorado

  • El Paso County Turnkey Program*

    Down-payment Assistance Program for El Paso County

    • May qualify for down-payment grant funds, no repayment requirement

    • Up to 4% down-payment grant assistance

    • Generous income guidelines

    • No First-time Homebuyer requirement

    • FHA and Conventional Freddie Mac programs available

    • Property must be located within El Paso County, Colorado

  • Denver Metro Down-Payment Assistance*

    Down-payment Assistance for Denver and participating cities in the Denver area

    • May qualify for down-payment grant funds, no repayment requirement

    • Up to 4% down-payment grant assistance

    • Generous income guidelines

    • No first-time homebuyer requirement

    • FHA and Conventional Freddie Mac programs available

    • Property must be located in the city or county of Denver or 19 other participating cities in the Denver area

     

Loan Types

  • Conventional Loan*
    • First-time home buyers may qualify for a Conventional loan with as little as 3% down (some Conventional loans allow the down-payment to be a gift from a family member)

    • Loan amounts less than 80% of the appraised value of the home do not require mortgage insurance

    • AAFCU offers competitive mortgage insurance rates

    • We offer both fixed and adjustable rate loans

    • If you are wanting to refinance or purchase a new home, contact an AAFCU Mortgage Professional to determine which of our many options are best for you

  • FHA Loan*
    • FHA (Federal Housing Administration) loans may not require as much down payment, and may have less restrictive credit, asset and employment requirements

    • The down payment may be a gift from a family member

    • FHA mortgages allow the use of down-payment programs to provide extra assistance to homebuyers

    • FHA loans may allow non-occupying co-signers

  • VA Loan*
    • VA loans typically have lower interest rates than Conventional loans

    • Can finance 100% of the appraised value of your home up to the conforming limit

    • Purchase loans may not require money out-of-pocket (ask about closing cost options)

    • VA loans are available up to $1 million in some cases. Most loans over conforming limit may require a down-payment

    • Credit guidelines may be less restrictive than Conventional loans

  • Jumbo Loan*
    • Any mortgage loan over the conforming limit is considered a Jumbo Loan

    • Credit guidelines may be a more restrictive than conforming loans

       

  • Reverse Mortgage*
    • Ability to access home equity without needing to make a monthly mortgage payment

    • Access equity through monthly payments or a lump sum payment made to you

    • Can be paid off anytime without a pre-payment penalty

    • Refinance or Purchase loans are available

    • Government Insured by FHA (Federal Housing Administration)

    • AAFCU offers HECM (Home Equity Conversion Mortgage) Reverse Mortgage in all states except MA & WV

    1Not a government benefit program

*These programs are not controlled by AAFCU. Program requirements subject to change.

My Way Mortgage

Take control of your borrowing experience and discover what it's like to design a home loan on YOUR terms!


Value Check®

Are you looking to purchase a home? You can now compare the price of the home to the actual value of the home by using our ValueCheck tool.

Calculator

Paperless Mortgage

In an effort to eliminate the amount of paper involved in the mortgage process, we have created a process that can drastically reduce the amount of paper required to execute your loan. We have implemented many eSign solutions which are easy and allow you to navigate much of the loan process from the comfort of your own home. Most, if not all, of the required documents to process your loan can be transmitted electronically and securely with the help of AAFCU. This process will be outlined early on in your loan process and we are always here to assist you with any questions or concerns.

FAQ


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Contact Us

Give us a call to learn more about how we can help you utilize the equity you have worked hard for.

Mortgage Department

During Business Hours - 719.593.8600 or 800.223.1983