Abound Credit Union

PO Box 900, Radcliff, KY, 40159  

Abound Credit Union Headquartered in Radcliff, Kentucky, we are 17 branches strong and offer smart banking solutions to over 100, 000 members throughout Central Kentucky. We are the largest Kentucky based credit union and believe that together we can make more possible. If you are looking for more in life, and a bank, we’re here for you. Together w

For 70 years, Abound Credit Union has provided financial services to hardworking Kentuckians. Formerly Fort Knox Federal Credit Union, we take pride in our military roots and proudly stand together to help our communities thrive.

Headquartered in Radcliff, Kentucky, we are 17 branches strong and offer smart banking solutions to over 100, 000 members throughout Central Kentucky. We are the largest Kentucky based credit union and believe that together we can make more possible. If you are looking for more in life, and a bank, we’re here for you. Together we rise!

Top 10 Easy-to-Qualify Real Estate Loans Offered by Abound Credit Union

Abound Credit Union is committed to helping members achieve their real estate goals by offering a variety of easy-to-qualify loans. Whether you're buying your first home, investing in property, or renovating your current residence, Abound Credit Union has tailored solutions to meet your needs. Here, we delve into the top ten real estate loans available, designed to simplify the financing process.

1. First-Time Homebuyer Loans

Overview

Abound Credit Union supports first-time homebuyers with loans that feature low down payments and flexible terms. These loans are specifically designed to make the home buying process accessible and affordable.

Key Benefits

• Low Down Payment Options: Start your homeownership journey with minimal upfront costs.
• Competitive Interest Rates: Benefit from rates that make monthly payments manageable.
• Support and Guidance: Access resources and expert advice to navigate the buying process.

Ideal For

• New Buyers: Individuals entering the real estate market for the first time.
• Limited Savings: Buyers with limited funds for a down payment.
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2. Fixed-Rate Mortgages

Overview

Fixed-rate mortgages offer stability and predictability, with consistent monthly payments over the loan term. Abound Credit Union provides competitive fixed-rate options for various loan durations.

Key Benefits

• Consistent Payments: Enjoy the security of knowing your monthly payment won’t change.
• Long-Term Planning: Fixed rates provide a stable financial outlook.
• Variety of Terms: Choose from different term lengths to suit your financial situation.

Ideal For

• Budget-Minded Homeowners: Those who prefer predictable payments.
• Long-Term Residents: Ideal for buyers planning to stay in their home for many years.
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3. Adjustable-Rate Mortgages (ARMs)

Overview

For those who seek lower initial interest rates, adjustable-rate mortgages (ARMs) from Abound Credit Union offer an attractive option. These loans have interest rates that adjust periodically after an initial fixed period.

Key Benefits

• Lower Initial Rates: Enjoy reduced payments during the initial fixed-rate period.
• Potential Savings: Benefit from lower rates if market conditions improve.
• Flexibility: Ideal for buyers planning to move or refinance before the adjustment period.

Ideal For

• Short-Term Owners: Buyers who plan to sell or refinance before rate adjustments.
• Market-Savvy Individuals: Those who anticipate favorable interest rate trends.
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4. Home Equity Loans

Overview

Abound Credit Union offers home equity loans for homeowners looking to leverage their property’s equity. These loans are perfect for financing renovations or consolidating debt.

Key Benefits

• Lump Sum Financing: Receive funds upfront for large projects or expenses.
• Fixed Interest Rates: Enjoy predictable monthly payments.
• Potential Tax Benefits: Interest may be tax-deductible (consult a tax advisor).

Ideal For

• Home Renovations: Fund major improvements or repairs.
• Debt Consolidation: Pay off high-interest debts with a lower-rate loan.

5. Home Equity Lines of Credit (HELOCs)

Overview

A HELOC from Abound Credit Union provides flexible access to funds by tapping into your home’s equity. It’s a revolving line of credit that you can draw from as needed.

Key Benefits

• Flexible Access: Borrow only what you need, when you need it.
• Interest-Only Payments: Pay interest only during the draw period.
• Variable Rates: Potentially lower rates compared to fixed loans.

Ideal For

• Ongoing Projects: Perfect for staggered expenses like ongoing renovations.
• Emergency Funds: Access cash for unforeseen expenses.

6. Investment Property Loans

Overview

For members interested in real estate investment, Abound Credit Union offers loans specifically designed for purchasing income-generating properties.

Key Benefits

• Competitive Rates: Attractive terms for investment purposes.
• Diverse Property Types: Finance single-family homes, multi-units, or condos.
• Expert Guidance: Access advice from real estate investment specialists.

Ideal For

• Aspiring Investors: Individuals looking to start or expand their property portfolio.
• Seasoned Investors: Those seeking additional properties for rental income.

7. Jumbo Loans

Overview

Abound Credit Union provides jumbo loans for financing properties that exceed conventional loan limits. These options are tailored for high-value real estate purchases.

Key Benefits

• Higher Loan Limits: Finance luxury or high-cost properties.
• Competitive Pricing: Attractive rates for larger loan amounts.
• Flexible Terms: Options to suit diverse financial strategies.

Ideal For

• Luxury Homebuyers: Those purchasing high-end real estate.

8. VA Loans

Overview

Abound Credit Union offers VA loans to eligible veterans, active-duty service members, and their families. These loans come with favorable terms and no down payment requirements.

Key Benefits

• No Down Payment: Purchase a home with zero money down.
• No Private Mortgage Insurance (PMI): Save on monthly costs.
• Competitive Interest Rates: Benefit from lower rates compared to conventional loans.

Ideal For

• Veterans and Military Families: Those who have served or are currently serving.
• First-Time and Repeat Buyers: Military members purchasing homes.
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9. FHA Loans

Overview

Federal Housing Administration (FHA) loans are designed to help low-to-moderate-income buyers become homeowners. Abound Credit Union offers these loans with low down payment options and flexible credit requirements.

Key Benefits

• Lower Credit Score Requirements: More accessible for those with less-than-perfect credit.
• Low Down Payments: As low as 3.5% of the purchase price.
• Assumable Loans: Transfer the mortgage to a qualified buyer if you sell.

Ideal For

• First-Time Buyers: Individuals entering the housing market.
• Lower Income Families: Those needing assistance with down payment and credit flexibility.
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10. USDA Loans

Overview

For those looking to purchase property in rural areas, Abound Credit Union offers USDA loans with zero down payment and affordable terms.

Key Benefits

• No Down Payment: 100% financing options available.
• Low Mortgage Insurance Costs: More affordable monthly payments.
• Competitive Fixed Rates: Secure stable payments over the life of the loan.

Ideal For

• Rural Homebuyers: Individuals purchasing in USDA-eligible areas.
• Moderate Income Buyers: Those seeking affordable homeownership solutions.

These ten loan options from Abound Credit Union provide a comprehensive range of solutions to meet diverse real estate needs, ensuring that every member can find a pathway to homeownership or property investment.

LENDING PROFILE

• RESIDENTIAL: Hard Money , FHA , Construction loans , HELOC , VA , Portfolio
• COMMERCIAL: Hard Money , Construction , Portfolio
• LAND: Hard Money