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PLAQUEMINE, La. – Dow Louisiana FCU has partnered with Fannie Mae to offer the MyCommunityMortgageT line of products to its members who otherwise wouldn’t qualify for a home loan under other mortgage products. MyCommunityMortgage is designed to assist low and moderate income families, public service employees, and people with a disability to be able to afford to purchase a home. The program was developed to allow borrowers who have limited savings, no credit histories, or non-traditional sources of income a way to buy or refinance a single-family home or condo, or a two- to four-family home that is used as a primary residence. The program also includes features specifically tailored for public service employees such as teachers, police officers, firefighters, and health care workers, as well as for borrowers with a disability. Under the MyCommunityMortgage guidelines, qualified borrowers can finance up to 100% of the value of a home with a down payment of as little as $500. DLFCU has approximately 13,000 members and about $115 million in assets. -

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