For Immediate Release
May 16, 2012
Local Contact: Jordan Masi
Arizona State Credit Union
Telephone (602) 467-4133
Home Sales Jump - Arizona State Credit Union Ready With New Loans
Credit Union anticipates high loan demand
PHOENIX, Ariz. –Arizona State Credit Union added construction loans to its home loan portfolio in anticipation of an improving economy, as evidenced by the 27 percent growth of new home sales in March compared to the prior year, according to RL Brown, Phoenix housing expert.
The construction loan program allows members the opportunity to lock in their mortgage rate early and avoid the possibility of fluctuating rates during the construction phase.
Additional perks to this all-in-one loan include needing to only qualify once, signing one set of loan documents and paying one set of loan fees for both the construction-phase financing and permanent mortgage.
"As a local financial cooperative, the Credit Union is proud to offer low rates and flexible terms on a product that few financial institutions are offering," said David E. Doss, President/CEO of Arizona State Credit Union. "We are excited to add construction loans to our home loan options as it is one more way we can assist members residing in the Arizona communities we serve."
The Credit Union offers an array of home loan products, including Home Affordable Refinance Program (HARP) loans, Fannie Mae Homepath Loans, Federal Housing Administration (FHA) and United States Department of Agriculture (USDA) loans, fixed loans, jumbo loans and adjustable rate mortgage (ARM) loans. Home loan consultants are available to assist first-time homebuyers or those wanting to purchase or refinance. For more information, call 800.671.1098.
About Arizona State Credit Union
Arizona State Credit Union is a $1.3 billion full-service, not-for-profit financial cooperative with a statewide branch network serving the people of Arizona. More than 125,000 Arizonans turn to Arizona State Credit Union for outstanding service and value. Arizona State Credit Union has grown dramatically since its founding in 1951, providing a full line of financial products and services at 21 locations across the state. More than 60 years of excellence and outstanding customer service have helped the Credit Union become a six-time winner of Arizona Business Magazine's Ranking Arizona and a four-time recipient of the Peter Barron Stark & Associates Award for Workplace ExcellenceT. Arizona State Credit Union is headquartered in Phoenix and welcomes membership from businesses and individuals throughout the state. Reach us at 800.671.1098 or visit us at www.azstcu.org.