Buying a Home in Los Angeles is More Achievable, According to First Entertainment Credit Union’s New Mortgage Program
First Entertainment introduces home loans with 0% down and no PMI costs give gig workers the opportunity to qualify for a home loan
LOS ANGELES, Calif. (September 13, 2022) – First Entertainment Credit Union, the premiere financial partner to creators and workers of the entertainment industry, is offering a series of exceptional home lending products that will allow first-time homebuyers more opportunities to qualify for a home loan.
“Many of our members are independent contractors within the entertainment industry and due to the nature of their jobs, their income may be intermittent,” said Bill Walker, Vice President of Real Estate for First Entertainment, who is considered one of the most respected credit union real estate lending minds in the industry. “We developed this program around the unique financial situation of gig workers. Offering home loans with up to 100% financing for first-time buyers means we can get more people into their dream home without them having to worry about providing a huge down payment.”
First Entertainment is also providing an additional benefit with their Home Rewards Program. Enrollment is free and anyone who enrolls in the program will have access to Multiple Listing Service (MLS) listings, be paired with a realtor in the area where they are searching, and may qualify for a 20% commission rebate which can help pay for the closing costs.
“We want to support our members along their homeownership journey by removing barriers they may have encountered otherwise,” said Walker. “By providing a variety of loan features and services we can get more people into a new home with payments they can afford.”
First Entertainment Credit Union membership is open to employees, their families and retirees of companies in the entertainment industry, along with Los Angeles County residents and eligible businesses.
About First Entertainment Credit Union
Since 1967, First Entertainment Credit Union has served creators in the entertainment industry. Headquartered in Hollywood, Calif., First Entertainment provides banking and financial services through its 8 branches in Los Angeles County – including the Warner Bros., Sony, and Paramount studio locations – and manages $2 billion in assets with a team of more than 220 employees. First Entertainment provides financial solutions to nearly 90,000 members through accessible 24/7 digital banking, unique entertainment-industry financial products, services, and ATMs. Visit FirstEnt.org.