Homeownership is Within Reach

¹ Conditions apply. Rates and terms subject to change at any time. Discounted interest rate is available on purchase and refinance loans. To qualify for .25% discount, you will need to agree to the following or have already established the following: Establish membership, Open a OneAZ checking account, Set up a monthly direct deposit of $1,000 or more and set up an auto pay for the new loan. The offer does not apply to FHA, VA or USDA mortgages.

¹ 0% Down Payment is for purchase transactions only. Minimum VantageScore 4.0 score and Maximum debt to income (DTI) ratios are applicable; strong financial profile and excellent credit are required on this program. Additional terms and conditions may be applicable, not all individuals will qualify. Inquire about other alternative financial options.

¹90% financing available up to $1,500,000 and 85% financing available on loans $1,500,000.01-$3,000,000.00 depending on program and loan type and term. Terms and Conditions apply; Membership qualifications apply.

¹Terms and Conditions Apply; Maximum income and loan amount limits apply. Fixed-rate mortgages (no cash out refinances), primary residences only. Certain property types are ineligible. All loans are subject to credit approval, underwriting factors, and program eligibility. Membership qualifications apply. For membership eligibility visit OneAZcu.com/membership.

¹24-Day Close Guarantee-Conditions apply. Terms and Conditions must be signed and acknowledged by both parties. For full details, refer to the Mortgage Closing Agreement.

**What is a Temporary Buydown?⁺
A Temporary Buydown Mortgage lowers the interest rate, and the required monthly payments, for the first one or two years of the loan. This feature creates a condition in which the initial monthly payments are more affordable for a short period of time allowing homeowners a way to ease into homeownership.⁺⁺ This is especially beneficial for borrowers who expect their income to increase over time. 
As an example, a 2 / 1 Temporary Buydown is typically structured as follows: 
During the first year, the interest rate is reduced by 2% from what is reflected on the Promissory Note. This lower interest rate results in a lower overall monthly payment obligation for 12 months.  At the beginning of the second year, the interest rate increases by 1%, but still remains 1% below the original Note Rate. This results in slightly higher monthly payments than the preceding year but continuing lower monthly payments than would have otherwise been required during the second year. At the beginning of the third year, the interest rate returns to the original Note Rate and the normal monthly payments are required. These gradually increasing monthly mortgage payments are what allows homeowners the opportunity to ease into homeownership. 
⁺Upfront Costs. It is important to note that the Temporary Buydown Program requires an initial upfront deposit of “Buydown Funds” at closing. This deposit is used to subsidize the normal monthly payments for the first two years of the mortgage. Typically, sellers will offer to pay the “Buydown Funds” on the behalf of buyers as a seller concession at closing. 
⁺⁺Qualifying the Borrower. When underwriting loans with a temporary interest rate buydown, the borrower must qualify based on the Note Rate without consideration of the bought-down interest rate or the lower monthly payment.