El Paso Helps First TimeHomebuyers

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EL PASO, Texas - (10/10/05) -- Government Employees CU and fiveother lenders will offer special terms to first time homebuyersunder a a new program unveiled by the city of El Paso last week.The city approved $24.3 million in funding to help funddownpayments and closing costs for first time homebuyers orapplicants who have not owned a home in the last three years. Theprogram, organized by the El Paso Housing Finance Corp., will referhomebuyers to the participating lenders, which also includeCountrywide Home Loans, Patriot Mortgage, Rocky Mountain Mortgage,Tri-State Mortgage and Verde Mortgage. To qualify, homebuyers musthave a record of at least two years employment, good credit andadequate income.

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