American First Credit Union Offers FHA Loans Low Down Payment and Credit Requirements Put Homeownership Within Reach 

La Habra, Calif., February 4, 2009— American First Credit Union is pleased to announce it is now offering Federal Housing Administration (FHA) loans. The FHA loans feature low down payment and flexible credit requirements, along with the security of a fixed, 15 or 30-year term or 3/1, 5/1 or 7/1 adjustable rate mortgages from a financially solid institution. American First’s FHA loans feature:

• No minimum credit score requirements
• Low down payment options
• Available for purchases and refinances on new and existing homes
• Non-occupant, co-borrowers are permitted
• No prepayment penalties

“In this current economic climate,  potential home buyers are having trouble qualifying for loans and meeting the minimum down payment requirements,” said Carlos Miramontez, Vice President of Operations. “FHA loans provide an affordable and secure mortgage solution that will help make our members’ homeownership dreams a reality.”

American First Credit Union (AFCU) is a member-owned, full-service financial cooperative established in 1952. It has five convenient Orange County branches, located in La Habra, Buena Park, Placentia, Orange and Tustin. AFCU has over $700 million in assets and serves more than 70,000 members. Membership is open to anyone who lives, works, worships or attends school in Orange County or 16 additional cities throughout the Greater Los Angeles area. To determine credit union eligibility, visit www.amerfirst.org or call 800/ 290-1112.

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