Allegacy Partners With Housing Finance Agency.(Allegacy Federal Credit Union partnerships)(Brief...

Allegacy Federal Credit Union has entered into a partnership with this state's Housing Finance Agency to promote home ownership among consumers who otherwise would not qualify for a home loan.

The Mortgage Revenue Bond (MRB) program seeks to offer affordable housing with below-market interest rates for first-time homebuyers. In addition, the program offers 100% financing.

Although Private Mortgage Insurance is required, the premiums are reduced and compare favorably to other standard 100% financing mortgage loan programs, the credit union said.

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