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Alliant’s New 0% Down Mortgage Program Helps Consumers Overcome Obstacles to Homeownership

06/22/2017• Alliant News

Alliant Credit Union’s new zero down payment mortgage program is aimed at helping consumers overcome common barriers to homeownership.

The new Alliant Advantage Mortgage Program (AAM), which launched last month, features two exceptional options for well-qualified homebuyers. The premier 0% down product for first-time homebuyers offers loan amounts up to $500,000 with various term options available and no private mortgage insurance (PMI) requirement. The AAM also features a 5% down product on loan amounts up to $650,000 that does not require consumers to be first-time homebuyers and also eliminates PMI. 

Alliant Vice President of Residential Lending Jerrold Anderson said the Alliant Advantage Mortgage program is another example of the credit union’s consumer-focused mission.

“We know that saving for a huge down payment is often the biggest obstacle people face when buying a home and that PMI is a large pain point for homeowners who haven’t reached 20 percent equity in their home. Our new program addresses both of those issues,” Anderson said. “We are always looking at ways to give consumers a better value, and our member-first mission is reflected through our excellent rates and programs like AAM.”

Alliant Advantage Mortgage is the latest addition to the credit union’s growing residential mortgage product portfolio, which also includes two 3% down products – one for first-time homebuyers – and competitive rates across the board.

“Homeownership is a goal for many Americans, and sometimes it can feel out of reach,” Anderson said. “Alliant wants to make homeownership easier, less overwhelming and more attainable through our products and services.”

Alliant also is currently offering discounts on closing costs for purchases. The Alliant Advantage Mortgage program is not available in Florida or Nevada.

About Alliant

Alliant is a not-for-profit financial cooperative with more than 345,000 members and over $9.8 billion in assets. Headquartered in Chicago and founded in 1935, Alliant is one of the largest credit unions in the United States. As a member-owned financial cooperative, Alliant’s mission is to foster its members’ financial well-being and serve their best interests. Learn more about Alliant at www.alliantcreditunion.org.

 

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Maggie Jenkins
PR & Social Media Specialist
773-462-3958
mjenkins@alliantcreditunion.com

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