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This is a great product if you're looking to refinance at a five-, 10-, or 15-year term, or with a 20-year balloon—and you don't want to pay any closing costs. When you take advantage of this loan, you'll get:

  • No closing costs
  • Lower payments or the ability to pay off your balance more quickly
  • Competitive interest rates
  • Possible tax benefits*
  • Free financial calculators

  • Loans over $300,000 are approved on a case by case basis
  • Minimum $5,000 loan amount
  • Mortgages have loan-to-value (LTV) ratios of 80% or less
  • Up to 15-year variable annual percentage rate (APR) loan, up to 10-year and 20-year balloon fixed APR loans available
  • Variable-rate loans may not exceed 18% APR
  • Reimbursement fee of up to $250 if loan is reconveyed within 24 months.  
  • Home must be located in the state of Utah, Idaho, Arizona or Nevada
  • Adequate insurance evidence must be provided before disbursal of funds
  • Federal law requires a three-business-day rescission period. Upon expiration of said rescission period, funds will be disbursed unless America First Federal Credit Union receives written notice that the right to rescind has been exercised by any party with that right.
  • America First will pay all appraisal costs, except on 100% loans and non-owner-occupied loans (investment properties).
  • If America First is willing to grant a loan without an appraisal, but a member requests a new appraisal, the member is responsible for those costs.
  • If the property tax notice value is equal to or greater than 80% loan-to-value on a mortgage, but a member orders an appraisal in seeking a 50% loan-to-value mortgage, the member will pay all appraisal costs.
  • Income verification
  • Two years of tax returns (if self-employed)
  • A current statement showing the balance of your first mortgage
  • This year's property tax notice or current appraisal
  • Homeowner's insurance statement

*Please consult a tax advisor regarding the tax deductibility of interest and charges related to your Home Equity Loan.

No Closing Costs, No Hassles

Refinance with America First and shorten your term.