MORTGAGES

The market may be changing, but our commitment to saving you money and getting you into a new home isn’t. AmeriCU’s mortgage experts will be by your side from application through closing, answering all your questions along the way!

Fixed or variable rate? First time homebuyer or veteran? AmeriCU has a mortgage to get you there. It’s still a great time to buy, so make the move with AmeriCU!

FHA Fixed Rate

Ideal for buyers who may not qualify for a conventional mortgage. A Federal Housing Administration (FHA) loan helps make home ownership possible!

• Low down payment
• Fixed rate for the term of the loan
• Available on 1-4 Family Units

Conventional Fixed-Rate Mortgage

Steady, predictable payments are an ideal choice if you’re planning to live in your new home for many years to come.

• Down payments as low as 3%
• Fixed rate for the term of the loan
• 10 to 30 year terms available
• Mortgage insurance is required with less than 20% down payment

Adjustable-Rate Mortgage

Offering lower initial interest rates and payments for a fixed period; ideal if you plan to sell or refinance your home before a shift in the market.

• Mortgage insurance is required with less than 20% down payment

Construction Loans

Can be used to finance single-family home construction projects.

• A variety of terms available
• Adjustable rates available
• Interest only payments during construction

Jumbo Mortgage Loans

Looking to make a large real estate purchase? AmeriCU offers jumbo loans.

• For loans over $726,200.00
• Fixed or adjustable rates
• A variety of terms available

VA-Fixed Rate Mortgage

Qualifying veterans and active duty service members can finance up to 100% of the purchase price with a low fixed rate.

• Available to qualifying veterans & active-duty service members
• Low fixed rates for the term of the loan
• Finance up to 100% of purchase

USDA Mortgages

Start your road to homeownership when you connect with a USDA mortgage. These loans, backed by the United States Department of Agriculture, are a low-interest mortgage designed for low-to-moderate income families in designated rural communities. Qualified borrowers can get into a new home with no money down. Contact a mortgage executive to learn more!

• No down payment required
• Fixed rate, 30-year term mortgage
• Must be in an eligible rural area as defined by USDA Rural Development
• Single-family homes, only
• Must be your primary place of residence
• Existing homes must meet U.S Housing and Urban Development standards
• Visit the USDA website for all eligibility information

Homebuyer Dream Program Plus (HDP Plus)

AmeriCU is proud to participate in the Federal Home Loan Bank of New York’s Homebuyer Dream Program Plus*. Members may qualify for a grant up to $7,500 with this program.
Grant funding will be open between April 26, 2024 – August 30, 2024 while funds last.

Here are the details:

• Grant amount up to $7,500 towards down-payment and closing costs assistance
• Household is a first-time homebuyer. As defined by the US Department of Housing & Urban Development (HUD), a first time homebuyer is someone who has not had ownership in a principal residence in the last three years.
• Household must meet maximum income allowances (greater than 80% and less than 120% of Area Median Income) for the county in which they are purchasing the property.
• Homeownership counseling certificate to be obtained.