Arizona State CU Signs Up For Fannie Maes HomePatch REO Loans
PHOENIX – Arizona State CU said yesterday it is offering its members low-down payment, low-rate loans to buy homes currently owned by Fannie Mae.
The HomePatch loan provides borrowers up to 3.5% closing cost assistance if they purchase one of Fannie Mae’s real estate owned properties between now and Oct. 31. There will be a $1,200 selling agent bonus for selling agents who meet all of the eligibility requirements.
The $1.3 billion credit union is adding FHA and USDA loans to its portfolio of other home loan products, which include fixed loans, jumbo loans and ARMs.