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Addison Avenue FCU Home Loan Payment Relief (HLPR)
Addison Avenue Federal Credit Union
www.addisonavenue.com

Program Overview

Addison Avenue FCU Home Loan Payment Relief (HLPR) is a program with a 3% down payment, no PMI (Private Mortgage Insurance) requirement, and a below market interest rate on a 3-year adjustable rate mortgage. No origination fee and low closing costs.

Who is eligible for this program?

Borrower must be a member of Addison Avenue Federal Credit Union. If borrower is not a member, contact Addison Avenue Federal Credit Union to find out how to become a member. Borrowers with incomes at or below 100% of the HUD median income are eligible. Higher in high-cost areas. Funds may be used to purchase an owner occupied property. Maximum % of Sales Price: 97% HUD Median Income Limits: 100 Is this program for first time buyers only? No

Property Eligibility Requirements

The sales price cannot exceed $ 417,000. Allowable property types: Single family homes, 2 units, Townhomes, Condos, PUD's

Benefit Details

Benefit: Addison Avenue is about "people helping people" from all walks of life. With the HLPR program, lower income members have a greater opportunity to purchase a home and begin to build wealth as the equity in their home accumulates. Addison Avenue members will not pay an origination fee so borrowers will save money on their closing costs. Loan Term: 30 years Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments: 3% down payment can be borrower's own funds; they can benefit from low down payment sources or obtain a gift. Addison Avenue may sell this loan but we keep the servicing so you always make your payment to us.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.