Mortgage Application

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-qualified to make the process as seamless as possible.

First-Time Homebuyer Programs

• CHFA- Colorado Finance and Housing Authority*
  

  • Down payment assistance for qualifying residents of Colorado

  • Grant and Second mortgage down payment assistance program may be available

  • Generous income guidelines

  • Some programs don't have a first-time homebuyer requirement

  • Conventional, VA and FHA programs available

  • The property must be located in the state of Colorado

     

• El Paso County Turnkey Program*
  

  Down-payment Assistance Program for El Paso County

  • Up to 5% down-payment assistance

  • Generous income guidelines

  • No First-time Homebuyer requirement

  • FHA, VA 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 and counties in and around the Denver area

  • Up to 5% down-payment assistance

  • Generous income guidelines

  • No first-time homebuyer requirement

  • FHA, VA and Conventional Freddie Mac programs available

   

Loan Types

• Conventional Loans*
  

  • 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 Loans*
  

  • 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*
  

  • 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

• Jumbo 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 controlled by AAFCU. Program requirements subject to change.