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""Arizona State Credit Union"":http://www.azstcu.org is now offering Fannie Mae HomePath loans, making it one of only a handful of credit unions in the nation approved for the mortgage program.
[IMAGE]""HomePath"":http://www.homepath.com is the GSE's venture for marketing and selling REO properties it takes ownership of after the foreclosure process, providing special financing terms for the purchase of select Fannie Mae-owned properties.
Arizona State Credit Union says its participation in the Fannie Mae program is expected to help reduce the inventory of foreclosed homes on the market in Arizona.
[COLUMN_BREAK]According to the credit union, this loan option presents numerous benefits and opportunities for homeowners, including up to 3.5 percent closing cost assistance if they purchase one of Fannie Mae's REO properties between now and October 31.
The GSE is also extending a $1,200 bonus to selling agents who close the deal for a Fannie Mae-owned home before the end of October.
""The Credit Union's core values include helping members reach their financial goals so we open our arms to any opportunity that allows us to assist members with getting into a home when they may not otherwise be able to,"" said David E. Doss, president and CEO of Arizona State Credit Union. ""The Fannie Mae HomePath Loan is truly a great addition to our home loan options and we are excited to offer it.""
Arizona State Credit Union is also adding Federal Housing Administration (FHA) and United States Department of Agriculture (USDA) mortgage loans to its array of home loan products, which include fixed loans, jumbo loans, and adjustable-rate mortgages.
Arizona State Credit Union is a $1.3 billion full-service, not-for-profit financial cooperative with a statewide branch network.
