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Current Mortgage Rates
| Program |
Rate |
Points |
APR |
| 15 Year Fixed Rate |
5.875 |
Zero ( 0 ) |
5.969 |
| 15 Year Fixed Rate |
5.375 |
2 |
5.782 |
| 30 Year Fixed Rate |
6.375 |
Zero ( 0 ) |
6.433 |
| 30 Year Fixed Rate |
5.875 |
2 |
6.121 |
| 3 Year ARM |
5.750 |
Zero ( 0 ) |
5.805 |
| 5 Year ARM |
6.250 |
Zero ( 0 ) |
6.307 |
| 7 Year ARM |
6.875 |
Zero ( 0 ) |
6.972 |
| 15 Year Fixed Jumbo |
6.875 |
Zero ( 0 ) |
6.972 |
| 30 Year Fixed Jumbo |
7.250 |
Zero ( 0 ) |
7.311 |
| Last Updated: Jun 20, 2008 |
 
AFC First Financial Corporation is an award winning Pennsylvania based financial institution founded in 1947.
AFC First is an Equal Housing Lender FannieMae Approved Energy Loan Lender.
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About AFC First
AFC First Financial Corporation, a Lehigh Valley, PA based private financial institution founded in 1947, operates as a mortgage banker (retail and wholesale), consumer portfolio lender, and the provider of the EnergyLoan program, a residential financing program for energy related home improvements.
 Founded in 1947 by John L Krajsa Sr. and Anna C. Krajsa, AFC was one of the first independent lending institutions licensed by the Pennsylvania Department of Banking. John L. Krajsa Jr. and Peter J. Krajsa joined the company in the 1970s and assumed ownership in the late 1980s. Peter J. Krajsa is the current owner. The company began as a specialty lender making unsecured character loans to good credit borrowers; a market then not serviced by traditional banking institutions. As the marketplace changed and credit card and other consumer loan vehicles emerged, AFC First began to focus on home improvement lending (HVAC and remodeling) as a way to expand its base of good credit customers. The company also entered the secondary mortgage or home equity lending business in 1980, among the first such companies licensed in the state.
In 1981 the company began to fund its portfolio in part with investment certificates offered directly to the public through an offering registered with the Pennsylvania Securities Commission. AFC First also began active participation in the secondary market selling mortgages on a bulk and flow basis. Throughout the 1980s and early 90s the company expanded its business throughout Pennsylvania primarily through correspondent relationships with community banks, mortgage companies and mortgage brokers as well as quality home improvement dealers.
In 1995 AFC First began offering FHA Title One Home Improvement Loans on a statewide basis, and in 1999 was approved as a FannieMae Energy Loan lender. It has continued to expand the Energy Loan program offering it in cooperation with selected sponsoring manufacturers, utilities and other organizations. In early 2005, AFC First was selected by the West Penn Power Sustainable Energy Fund to create the HELP program and to launch in the West Penn Power service territory.
The Lehigh Valley Chamber of Commerce has recognized AFC with its Excellence Business of the Year Award and it is an accredited member of most state and national trade associations.
AFC First is licensed and regulated by the Pennsylvania Department of Banking under the Secondary Mortgage Loan Act and the Consumer Discount Company Act. As such a licensee it meets the requirements to function as a first and secondary mortgage banker or broker and is exempt from the Pennsylvania Mortgage Bankers and Brokers Act. It makes first mortgages under the Pennsylvania Loan Interest and Protection Law and is a Federal Housing Creditor under the Garn-St. Germain Act. As a licensed consumer lender or sales finance company in Pennsylvania, Delaware, New Jersey, Connecticut, Maine, Virginia and Vermont, the company makes the EnergyLoan program available to homeowners in those states as well as Massachusetts, New York under exemptions.
AFC First is an approved lender by the Federal Housing Administration under Title One and Title Two of the Federal Housing Act, an approved FannieMae Energy Loan Lender and is an approved correspondent lender of organizations such as J.P Morgan Chase and Sovereign Bank.. |
