If your needs don't fit within the framework of the more traditional loans, we have other options for you.
Additional Disclosures
First-Time Home Buyer Program
| Best Choice If:You want a loan with: .
Very low initial payments
If you plan on staying in the home for 5 years or less and want to keep your payments low.
| Advantages:Interest rate stays fixed for first 5 years. Adjusts annually thereafter
Modification to a fixed rate is available after 12 payments are made. Not available on investment properties.
| Disadvantages:Interest rate and monthly payments will adjust in the future.
Interest rate can rise above the current fixed rates over time.
This loan is not available on investment property at this time.
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Residential Investment Property Program
| Best Choice If:You are looking to buy or refinance investment property titled in your individual name (not in your business name) | Advantages:Competitive rates and up to 80% loan to value loan amounts
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Retirement Home
| Best Choice If:You are looking to buy a retirement home at current market rates and plan to retire in this property.
The retirement home is suitable for year-round occupancy.
You have exclusive ownership of the property
The dwelling is a 1-unit property.
| Advantages:Competitive rates and up to 90% loan to value loan amounts.
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Second Home/Vacation Properties
| Best Choice If:You are looking to buy a second home or vacation home.
The second/vacation home is suitable for year-round occupancy.
You have exclusive ownership of the property
The dwelling is a 1-unit property.
| Advantages:Competitive rates and up to 90% loan to value loan amounts.
| Disadvantages:Shorter loan term (15 years). |
Streamline Refinance Program
| Best Choice If:You currently have a mortgage with AA Credit Union
You want to take advantage of a lower rate environment
You want to change the loan term or loan program. Ie. 15 year fixed to a 30 year fixed. Available on Jumbo loans as well.
| Advantages:Costs may be lower than a full refinance
Closing costs may be be rolled in
| Disadvantages:You cannot take any cash out or pay off any debts aside from the original mortgage.
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