America First Credit Union Mortgages

America First Credit Union (AFCU) mortgages are NCUA-insured home loans originated, processed, and serviced in-house by the 6th largest US credit union, founded 1939 in Riverdale, Utah. AFCU offers conventional, FHA, VA, USDA, jumbo, refinance, construction, and lot loans to its 1.5 million members across Utah, Nevada, Arizona, Idaho, New Mexico, California, and Oregon, with member-rate pricing tied to its $23.3 billion cooperative balance sheet.

Mortgage products offered by America First Credit Union

AFCU runs a full-service mortgage shop rather than a referral pipeline. That distinction matters: the credit union retains decisions on its own loans instead of handing files to wholesale lenders, and members deal with AFCU staff from application through closing and beyond. The product menu spans the categories most American homebuyers actually need, from first-time-buyer FHA loans to seven-figure jumbo notes for high-cost markets in California and along the Wasatch Front.

The home-mortgage core covers conventional fixed-rate loans (15-, 20-, and 30-year terms), adjustable-rate mortgages, and FHA, VA, and USDA government-backed options. For members purchasing in high-cost areas where loan amounts exceed the conforming Fannie Mae and Freddie Mac limits, AFCU writes jumbo mortgages in-house — a product some smaller credit unions outsource entirely. Members building a new home can use AFCU's construction-and-lot loan program, which combines lot purchase, construction draws, and end-loan financing under one underwriting decision.

Refinance options for existing homeowners

AFCU offers three refinance pathways. A rate-and-term refinance replaces an existing loan with a lower rate or shorter payoff window, typically targeted by homeowners when market rates drop or after years of payments shorten the practical horizon. A cash-out refinance unlocks accumulated equity by borrowing against the home and taking the difference at closing — common uses include consolidating higher-rate debt, funding a renovation, or covering a college tuition gap. Finally, the credit union's No Closing Cost First Mortgage option waives the standard origination, appraisal, and title fees in exchange for a slightly higher rate, attractive to members planning to stay in the home only a few years.

How to apply for an AFCU mortgage

1. Become a member.Membership opens to residents of qualifying counties in Utah, Nevada, Arizona, Idaho, New Mexico, California, and Oregon, plus family of current members and employees of select employer groups. Open a Share Savings account with a $1 minimum deposit to establish membership.
2. Pre-qualify online.Submit a pre-qualification request through the AFCU member portal at secure.americafirst.com or by calling 1-800-999-3961. Pre-qualification is a soft-pull estimate based on stated income, assets, and target purchase price.
3. Submit the full application.Once you have a property under contract (or are ready for full pre-approval), upload pay stubs, W-2s, two months of bank statements, and a signed purchase contract. AFCU processes the file internally rather than routing it through a wholesale lender.
4. Lock the rate and order the appraisal.After conditional approval, lock your rate (typically 30-60 days) and AFCU orders the appraisal. The credit union's in-house underwriting team typically clears the file within 30-45 days of full submission for conforming loans, longer for jumbo or construction.
5. Close at a branch or via mobile notary.Sign at any of 116 AFCU branches, at an affiliated title company, or via mobile notary in eligible counties. AFCU services the loan itself, so monthly statements, escrow analyses, and payoff requests come direct from the credit union — not a third-party servicer.

Why members choose a credit-union mortgage

The cooperative model changes the underlying economics of mortgage lending. Because AFCU returns surplus earnings to members rather than to outside shareholders, headline rates on first mortgages typically sit a few basis points below comparable bank offers and origination fees skew lower. The credit union also retains servicing on most loans it writes, which avoids the common large-bank pattern where a borrower's mortgage is sold within months of closing — sometimes more than once — to a third-party servicer the borrower never chose.

Relationship pricing is another differentiator. AFCU members with deposit accounts, an auto loan, or a Visa credit card may qualify for modest rate discounts on a new mortgage based on overall household relationship, a structure rarely available at large national banks.

Key mortgage facts at a glance

Construction, lot, and reverse mortgage options

Beyond standard purchase and refinance loans, AFCU offers two specialty products that round out the home-finance menu. The construction-and-lot loan finances a parcel purchase plus the build itself, structured either as a one-time-close loan that converts to a permanent mortgage at completion, or as a two-time-close structure depending on the project's complexity. The reverse mortgage program, available to members 62 and older, lets homeowners convert accumulated equity into a stream of payments, a lump sum, or a line of credit without monthly principal-and-interest obligations during their tenure in the home.

Investment-property loans and Home Equity (First Mortgage) products complete the lineup for members who own free-and-clear homes or want to leverage existing properties for additional financing.

Overview & Key Features

America First Credit Union originates, underwrites, and services mortgages in-house from its Riverdale, Utah headquarters. As the 6th largest US credit union with $23.3 billion in assets and 1.5 million members, AFCU writes conventional, government-backed, jumbo, construction, and reverse mortgages across seven western states, with member-rate pricing supported by its cooperative ownership structure.

• Conventional: Fixed 15-, 20-, 30-year terms and adjustable-rate options at conforming loan limits
• Government-Backed: FHA, VA, and USDA loans for first-time buyers, veterans, and rural-property purchases
• Jumbo: In-house jumbo origination above conforming limits for high-cost markets in California, Utah, and Nevada
• Refinance: Rate-and-term, cash-out, and a No Closing Cost First Mortgage option
• Construction: One- and two-time-close construction-to-permanent loans with integrated lot financing
• Reverse Mortgage: HECM-style products for members 62 and older converting equity to income
• Processing: Internal underwriting, closing, and servicing — no third-party servicer transfer
• Eligibility: Open to AFCU members in Utah, Nevada, Arizona, Idaho, New Mexico, California, and Oregon

People also ask about America First mortgages

Does America First Credit Union offer FHA and VA mortgages?

Yes. AFCU originates the full federal-program menu — FHA loans for low-down-payment buyers, VA loans for eligible veterans and active-duty service members, and USDA Rural Development loans for properties in qualifying rural areas. All three programs are processed in-house alongside the credit union's conventional and jumbo offerings.

What credit score do I need for an AFCU mortgage?

AFCU does not publish a single minimum because each program has different underwriting requirements. Conventional Fannie Mae and Freddie Mac loans typically expect 620 or higher, FHA loans accept scores as low as 580 with 3.5% down (or 500 with 10% down), and VA loans follow VA guidelines. As a cooperative, AFCU underwriting often considers full member relationship history alongside the credit-bureau score.

Does America First process mortgages in-house?

Yes. AFCU processes, underwrites, closes, and services mortgages internally rather than handing files to a wholesale lender or selling servicing rights after closing. Members deal with AFCU staff throughout the life of the loan, and monthly statements, escrow analyses, and payoff requests are issued directly by the credit union.

Can I refinance my existing mortgage with America First?

Members can refinance an existing mortgage for a lower rate, shorter term, or cash-out at closing. AFCU offers rate-and-term refinance, cash-out refinance, and a No Closing Cost First Mortgage option that waives origination, appraisal, and title fees in exchange for a slightly higher contract rate.

Is America First Credit Union FDIC insured?

AFCU is federally insured by the National Credit Union Administration (NCUA) for up to $250,000 per depositor per ownership category. NCUA insurance is the credit union equivalent of FDIC bank insurance, backed by the full faith and credit of the US federal government, and applies to deposit accounts not to mortgage liabilities.