Home Loans

Home Equity Loans

If you are currently a home owner, you should consider a second mortgage/home equity loan. With a second mortgage/home equity loan you have a fixed rate loan for a specified period of time. The amount of your loan is based on the equity you have in your home and the funds can be used for any purpose.

Home Equity Lines of Credit

With a variable-rate credit union home equity line of credit (HELOC), you can use the equity in your home to make home improvements, consolidate high-interest debt, finance your education, and much more. A Home Equity Line of Credit allows the flexibility of drawing on it at any time for up to 10 years. You can use what you need as you need it. The amount of your loan is based on the equity you have in your home and the funds can be used for any purpose.

Mortgage Loans

The dream of owning your own home can be a reality with ASFCU's outstanding first mortgage rates and options. Whether you are a first-time buyer, looking to upgrade to a better home, or wish to refinance your present mortgage, ASFCU can help you reach your goals.

First Time Home-Buyer

Are you thinking about purchasing your first home, but are not sure how to go about it? Start by having a conversation with your credit union. Together, we can walk through some of the scary questions that most first time homebuyers have.

Why Buy? There are many reasons to look at home ownership including, tax deductions, appreciation on your investment, excellent rates, solid home values and control of your property.

Are You Ready to Buy? This is a hard question to answer but if you have good income, good credit, and a down payment now may be the time to buy, but don’t forget to factor in your future plans (career, family, schooling, and if you plan to stay in the community).

What Type of Home? Are you good with your hands…then you may want a fixer-upper, not so good at that type of stuff…maybe you want new construction, either way make sure you consider all aspects of the home, in all seasons.

Are There Special Programs for First Time Homebuyers? Aurora Schools and our partner 1st Mortgages offer a variety of programs including first time buyer, down payment assistance, closing cost assistance and many more valuable programs, ask us today.

How Much Can You Afford? As a general rule, housing costs should not exceed more than 29% of your gross income. However, there are many things to consider when figuring out this question. The best idea is stop in today and get preapproved. A preapproval is possibly the most powerful tool you can have in the first time buyer process.