America First Credit Union Mortgages

An AFCU mortgage is a home loan originated by America First Credit Union — a member-owned, federally insured credit union founded in 1939 and headquartered in Riverdale, Utah. AFCU underwrites conventional, FHA, VA, USDA rural, jumbo, construction, and reverse mortgages in-house, returning the cost savings of a not-for-profit structure to members through lower rates and lower fees than typical bank mortgages.

Mortgage Products Offered by AFCU

America First Credit Union runs a full mortgage shop. Loans are originated, underwritten, and serviced in Utah rather than sold to a third-party servicer at closing, which means a borrower works with the same institution from application through final payoff. The product mix mirrors what a regional bank would offer, with the credit-union rate advantage built in.

Conventional fixed-rate loans run 10, 15, 20, 25, and 30-year terms. Adjustable-rate options include 5/6, 7/6, and 10/6 ARMs. Government-backed loans cover FHA, VA, and USDA rural housing. Jumbo financing goes up to the AFCU internal cap for high-cost markets in Utah's Wasatch Front, Las Vegas, Boise, and Salt Lake metro counties.

How to Apply for an AFCU Mortgage

1. Become a member. Membership eligibility covers residents of UT, NV, AZ, ID, NM, CA, and OR plus family of existing members. Opening a $5 savings share establishes membership.
2. Gather documents. Two months of pay stubs, two years of W-2s or 1099s, two months of bank statements, and two years of tax returns for self-employed applicants.
3. Submit application. The online application takes 20-30 minutes inside the AFCU member portal. A loan officer is assigned within one business day.
4. Lock the rate. Once underwriting issues a conditional approval the borrower can lock the interest rate for 30, 45, or 60 days while the loan is processed.
5. Close in branch or remotely. Closings happen at any of the 116 branches, at the title company, or via remote-online-notary in jurisdictions that allow it.

Loan Limits and Down Payments

Conventional conforming limits follow the FHFA schedule, set at $806,500 for one-unit homes in most counties for 2026. High-cost county ceilings reach $1,209,750 — applicable to several California and Salt Lake metro counties on the AFCU footprint. Anything above the conforming limit moves into jumbo territory and is underwritten internally.

Minimum down payments vary by loan type: conventional 3%, FHA 3.5%, VA 0%, USDA 0%, jumbo typically 10-20%. AFCU offers down-payment assistance referrals through the Utah Housing Corporation and partner state agencies for qualifying first-time homebuyers.

Key Mortgage Facts at AFCU

Conventional vs FHA vs VA — Which Fits You?

Three loan families cover most AFCU mortgage borrowers, and the right pick comes down to credit score, down-payment cash, and military service history. The differences in mortgage insurance handling alone can swing a monthly payment by $150-300.

Conventional loans suit borrowers with 620+ FICO and the ability to put 5-20% down. Private mortgage insurance (PMI) is required below 20% equity but cancels automatically at 78% loan-to-value. FHA accepts FICO scores as low as 580 with 3.5% down, but its mortgage insurance premium (MIP) stays for the life of the loan unless 10%+ is put down initially. VA loans are restricted to eligible veterans, active-duty, and surviving spouses — they require zero down and carry no monthly mortgage insurance, only a one-time funding fee.

Mortgage Products at AFCU

Refinance Options

Refinancing replaces an existing mortgage with a new one — typically at a lower rate, a shorter term, or to pull cash from accumulated equity. AFCU runs three refinance tracks. Rate-and-term refi swaps one fixed loan for another at current market pricing. Cash-out refi lets a borrower take new debt against home equity, capped at 80% combined loan-to-value on most conventional products. Streamline refi (FHA and VA only) reduces paperwork to verify income and skips a full appraisal in many cases — useful when rates drop by more than 0.5 percentage points.

How long does an AFCU mortgage take to close?

A typical AFCU mortgage closes in 30-45 days from full application submission. The timeline depends on the appraisal scheduling (usually 1-2 weeks), title work (1-2 weeks parallel), underwriting decisions, and your responsiveness to documentation requests. AFCU processes loans in-house rather than reselling — this often means faster decisions than non-credit-union lenders that broker through third parties.

Overview & Key Features

America First Credit Union mortgages are originated, underwritten, and serviced in-house at the Riverdale, Utah headquarters by the 6th largest US credit union ($23.3 billion in assets, 1.5 million members, 116 branches). AFCU offers the full range of residential mortgage products — conventional, FHA, VA, USDA, jumbo, construction-to-permanent, refinance, and reverse — without selling loans to outside servicers at closing.

• Conventional Loans: 10/15/20/25/30-year fixed plus 5/6, 7/6, 10/6 ARM, minimum 3% down
• FHA Loans: 3.5% down, 580 minimum FICO, HUD-insured, available statewide
• VA Loans: Zero down, no PMI, one-time funding fee for eligible veterans
• USDA Rural: Zero down for qualifying rural and suburban properties
• Jumbo Loans: Above $806,500 conforming limit, internally underwritten
• Construction-to-Perm: Single-close loan converts when home is complete
• Reverse Mortgage: HECM products for borrowers age 62 and older
• In-House Servicing: Loans stay with AFCU — no third-party transfer post-closing
• Phone: 1-800-999-3961 for mortgage specialist line
• Online Application: 20-30 minute application inside secure.americafirst.com

People also ask about AFCU mortgages

What credit score do I need for an AFCU mortgage?

Conventional loans require 620 minimum FICO. FHA accepts 580 with 3.5% down. Jumbo loans typically need 700+. Underwriting weighs the full picture — income stability, debt-to-income ratio, and reserves — not the score alone.

Does AFCU sell mortgages to other servicers after closing?

AFCU services most of its mortgages in-house at the Riverdale, Utah headquarters. Borrowers continue using the same member portal, same phone number, and same autopay setup for the life of the loan.

What is the maximum jumbo loan amount at AFCU?

The conforming limit ceiling is $806,500 in most counties for 2026; loans above that are jumbo and underwritten internally. AFCU sets internal caps by market — Salt Lake metro and Las Vegas reach higher than rural Idaho or New Mexico.

How long does it take to close an AFCU mortgage?

Typical purchase loans close in 30-45 days from application; refinances close in 21-35 days. FHA streamline and VA IRRRL refis can close in as little as 14-18 days when documents are submitted promptly.

Does AFCU offer down-payment assistance?

AFCU partners with the Utah Housing Corporation and state housing-finance agencies in other footprint states. Qualifying first-time buyers can layer grant assistance on top of an FHA or conventional loan to cover part of the down payment and closing costs.

Can I get a construction loan from AFCU?

Yes. AFCU offers construction-to-permanent financing — a single closing that converts to a standard mortgage when the home is complete. Borrowers draw funds in stages as construction milestones are met.