Home Loan Center

We review your income, debts, credit history, and other factors. You will need to demonstrate income is sufficient for the loan request and provide a history of making timely payments. Please contact one of our home loan consultants at 800-290-1112 to get pre-qualified and learn more about our lending programs.

Not necessarily, but the higher your credit score the better. It is possible to obtain a conventional mortgage loan with a credit score as low as 620. Generally, the lower the credit score, the higher your interest rate and cost will be.

Please contact one of our home loan consultants at 800-290-1112, who can work with you to determine what loan amount you qualify for.

The amount of cash needed depends on several factors. In general, the cash needed may include earnest money paid when you make an offer, the loan down payment that you make, and your closing costs associated with processing the loan.  Please contact one of our home loan consultants at 800-290-1112 and they will be happy to help you with the details.

Yes, depending on qualifying factors. Mortgage interest rates are typically lower than interest rates on credit cards and other types of loans so consolidating debt will help reduce your monthly expenses.

Yes, depending on qualifying factors. We offer fixed-rate Home Equity and Home Equity Line of Credit (HELOC) programs that allow you to tap into your home’s equity and take cash out.

We do not charge an upfront fee to apply for a home equity loan. An early closure reimbursement fee applies if you close your home equity loan before 36 months.

Yes, approval is based on the lowest two middle scores of both borrowers.

In most cases we are able to offer financing for homes on large tracts.  It's important that the appraiser be able to obtain information about the recent sale of similar homes on similar lots in the area.

Yes, we provide financing for mobile homes as well as other types of prefabricated homes.

For a fixed-rate mortgage, the interest rate and the monthly payment of principal and interest remain the same during the life of the loan.

For an adjustable-rate mortgage, the loan interest rate (and your payment) may go up or down based on an economic indicator called an index.

The program that is best for you depends on numerous factors related to your current financial situation and how long you intend to be in your home. Please contact one of our home loan consultants at 800-290-1112 to help you evaluate your options to select the program that works for you.

The LTV ratio is calculated by dividing a home loan amount by the property’s value. The higher the LTV ratio, the riskier the mortgage is for the credit union, which may result in the loan being assigned a higher interest rate than it might have with a lower LTV ratio. In addition, the LTV ratio can be a factor in determining whether your loan requires private mortgage insurance (PMI).

For most loans, the mortgage payment includes the loan principal, loan interest, and taxes/insurance held in an escrow account. At times, the borrower may pay the taxing/insurance entity directly.

Points are the percentage of the loan amount that the borrower pays to the lender that generally lowers the loan interest rate.

A rate lock is an agreement that specifies the number of days for which your loan's interest rate and points are guaranteed.  It is peace of mind from interest rate fluctuations that may occur during the processing of your loan.

It is an account set up to collect your real estate tax and homeowner’s insurance from your monthly mortgage payment. When your payments are due, they will be paid using your escrow account.

Private mortgage insurance is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Private mortgage insurance is generally required for a loan with an initial loan-to-value (LTV) ratio of more than 80%.

American First Credit Union, P.O. Box 58662, Tukwila, WA 98138

Mortgagee Clause: AFCU ISAOA, PO BOX 58662 TUKWILA, WA 98138

Yes. Please contact Real Estate Servicing at 1-800-290-1112 ext.4340 to obtain the current payoff amount. Funds can be wired to Routing Number 322275607, Account Number 99999932, and must reference the borrower's name and loan number.

Payoff Statement requests should be faxed to 562-237-5194 or e-mailed to realestateservicing@amerfirst.org.  If the request is coming from a third party, please include the member’s written authorization to release information.

No. Please contact Real Estate Servicing at 1-800-290-1112 ext.4340 to obtain the current payoff amount and to obtain further instructions to pay off the loan.

Yes, a separate mortgage statement is generated for first and second mortgages.  Home Equity Lines of Credit will remain on the combined monthly statement generated on the last business day of the month.

Login to Online Banking, which can be done from our website main page (www.amerfirst.org).  Click on the account title that you would like to view.  Click on the "statements" link to the right of the account title.

American First Credit Union, P.O. Box 60035, City of Industry, CA 91716

American First Credit Union, P.O. Box 2477, Brea, CA 92822

You can obtain general account information by calling us at 1-800-290-1112 ext. 4340. If you need a Verification of Mortgage Statement, there is a $20 processing fee due at the time of generation.

Your payoff statement will include the recording and reconveyance fee based on the county in which the property is located. We will request that the county release the lien when we receive your fee payment. The county will then send you mail confirmation when the process is completed. Please note that processing could take 8-10 weeks, depending on the county.

If your account is impounded, American First Credit Union will pay out taxes based on the date in which we receive the bill. Please note some counties take several weeks to show the installment as paid.

The 1098 and 1099 statements will be mailed to you by January 31st.