Contact Us

Frequently Asked Questions

Simply apply online through our secure online system by clicking the red apply now button.  If you prefer to speak with a loan officer contact us at 855-636-1057

What is a P&I payment?

How can I start my application?

P&I is the combined principal and interest you pay your lender each month. The principal amount repays a portion of the amount of money originally borrowed. The interest amount pays the monthly interest accumulated on your outstanding balance. Your total payment will typically include additional items, such as, real estate taxes and insurance premiums.

What is an origination charge?

The origination charge is the amount charged for services performed on the initial loan application and loan processing. This includes all charges (other than discount points) that lenders and brokers involved in the transaction will receive for originating the loan. It includes any fees for application, processing, underwriting services, and payments from the lender for origination.

What are points?

Points (sometimes referred to as discount points or mortgage points) are paid to the lender, usually at mortgage closing, in order to lower the interest rate. One point equals one percent of the original loan amount.

Why does my lender require homeowners insurance?

Homeowners insurance is an insurance policy that protects both you and your lender in case of loss or damage to your property.  The insurance company is chosen by you and the monthly homeowners insurance premium is often included as part of the monthly mortgage payment.

Should I Pay Points Calculator by MortgageLoan.com
Mortgage Payment Calculator by MortgageLoan.com

Alcon Employees Federal Credit Union, NMLS ID# 802366

It’s Clear – Our Rates are Great!

Now is the time to get your home loan from Alcon Employees Federal Credit Union!  We combine great rates with superior service to make your home buying or refinancing experience the best yet! 


We offer Conventional and Government loan programs, low down payment programs,programs for borrowers with less than perfect credit, and so much more. Whatever your unique situation requires, we have the mortgage program that’s right for you! 


AEFCU partners with Member First Mortgage, a company built on the Credit Union philosophy of “People Helping People”.  Let us help turn your dream into a reality!

Call us today at 469-409-5770, toll-free at 855-636-1057, or click below to apply:

It’s Clear – Our Rates are Great!

Now is the time to get your home loan from Alcon Employees Federal Credit Union!  We combine great rates with superior service to make your home buying or refinancing experience the best yet! 


We offer Conventional and Government loan programs, low down payment programs,programs for borrowers with less than perfect credit, and so much more. Whatever your unique situation requires, we have the mortgage program that’s right for you! 


AEFCU partners with Member First Mortgage, a company built on the Credit Union philosophy of “People Helping People”.  Let us help turn your dream into a reality!

Call us today at 469-409-5770, toll-free at 855-636-1057, or click below to apply:

Alcon Employees Federal Credit Union, NMLS ID# 802366

Homeowners insurance is an insurance policy that protects both you and your lender in case of loss or damage to your property.  The insurance company is chosen by you and the monthly homeowners insurance premium is often included as part of the monthly mortgage payment.

Points (sometimes referred to as discount points or mortgage points) are paid to the lender, usually at mortgage closing, in order to lower the interest rate. One point equals one percent of the original loan amount.

The origination charge is the amount charged for services performed on the initial loan application and loan processing. This includes all charges (other than discount points) that lenders and brokers involved in the transaction will receive for originating the loan. It includes any fees for application, processing, underwriting services, and payments from the lender for origination.

P&I is the combined principal and interest you pay your lender each month. The principal amount repays a portion of the amount of money originally borrowed. The interest amount pays the monthly interest accumulated on your outstanding balance. Your total payment will typically include additional items, such as, real estate taxes and insurance premiums.

Frequently Asked Questions

Why does my lender require homeowners insurance?

What is a P&I payment?

What is an origination charge?

What are points?

How can I start my application?

Simply apply online through our secure online system by clicking the red apply now button.  If you prefer to speak with a loan officer contact us at 855-636-1057