FRESNO, Calif.–Educational Employees Credit Union (EECU) said it has made some changes with a goal of making it easier for members to qualify for a home loan.
The $4.9-billion EECU said that with its new EECU Advantage Home Loan, qualified borrowers can purchase a primary residence with as little as 10% down on a fixed-rate mortgage.
“This reduced down payment requirement opens the door to homeownership for more members, helping them enter the housing market sooner and with greater financial flexibility,” the credit union said.
New Partnership
In addition to the Advantage Home Loan, EECU said it has partnered with NavPros/Navigator Lending Solutions, a division of Land Home Financial Services, to offer an even broader selection of loan programs, including low down payment options such as FHA, VA, and manufactured home loans, as well as First-Time Homebuyer/Down Payment Assistance Loans.
“Our goal is to remove barriers that keep people from becoming homeowners,” President and CEO Elizabeth J. Dooley said in a statement. “By offering lower down payment options and partnering with trusted providers, we’re making it possible for more members to step into a home of their own.”
