Federal Credit Union (eFCU) officials on Thursday announced a new mortgage loan program tailored for the medical professionals in the El Paso community.
“This program will not only make the home buying process easier for busy medical professionals, it will also help reduce the costs associated with buying a home,” said credit union representatives.
“Evolve FCU is proud to introduce mortgage loans for healthcare professionals and is excited to expand this program to local El Paso heroes.”
The loan is available to anyone in the medical profession who has at least two years of certification to maintain their position, provided the specific requirements set by the eFCU are met.
Founded in 1936, the Federal Credit Union, formerly the El Paso Employees Federal Credit Union, provides full-service banking to anyone who lives, works, or prays in El Paso.
Mortgage Loans For Health Professionals Overview:
- Healthcare Professional Mortgage Loans: $ 60,000- $ 750,000
- Duration: 10, 15, 20 or 30 years
- Medical certificates: Any person in the medical profession who has had at least two years of certification to maintain their position. (There is no requirement for a 2-year work history.)
- First mortgage loan with a term of up to 30 years that was granted for the purpose of acquiring or without disbursement refinancing of an owner-occupied main residence.
- Second and investment houses are not eligible under this program.
- All mortgages must be drawn up in accordance with the FNMA and / or FHMLC underwriting guidelines.
- Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP) is not required for this loan product.
To learn more about this mortgage product and take advantage of its benefits, contact: Luz Alaniz at 915.599.6820 (NMLS # 1506705) or Click here to visit the website.