Looking to refinance your current loan? We are committed to helping you reach your goals and to making homeownership affordable.
You want a trusted partner when it comes to refinancing your home. AAFCU is committed to helping you reach all of your financial goals, especially when it comes to making homeownership affordable.
Trust your mortgage refinance with a financial partner that's there when you need them.
Getting a new mortgage loan to replace your existing is called a refinance. You can benefit from refinancing by getting a lower interest rate and reducing your payments, taking out equity for home improvements or going from an adjustable rate mortgage to a fixed rate mortgage.
If you currently have an FHA or VA loan, you may qualify for a “streamline” refinance, which typically requires less documentation.
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 (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 loans typically have lower interest rates than Conventional loans
We offer VA (Cashout) Refinances and VA (IRRRL) Streamline Refinances
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
Any mortgage loan over the conforming limit is considered a Jumbo Loan
Credit guidelines may be a more restrictive than conforming loans
*These programs are not offered or controlled by AAFCU. Program offered may change at any time.
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.
Give us a call to learn how we can make this process as seamless as possible.
During Business Hours - 719.264.1207 or 800.223.1983