Loan Programs

Which Mortgage is Right for You?

There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we’re here to help you choose the best type of home loan for your needs.

INTRODUCING 0% DOWN PURCHASE PROGRAM!

• Borrowers must have an income at or below 80% of the Area Median Income (AMI) for the address of the property they are buyinG
• For very-low-income borrowers (VLIP) whose qualifying income is at or below 50% AMI, they will receive a $2,500 credit as part of the 3% assistance
• Non-occupying co-borrowers are permitted up to 95% LTV
• Only 1-unit single-family homes, PUDs, and condos are eligible. Manufactured homes are not permitted
• The loan must be a 30-year fixed primary purchase
• Minimum FICO score of 620
• Maximum LTV of 97% and minimum LTV of 95%
• Maximum TLTV of 100%
• Down payment assistance can cover up to the lesser of 3% or $15,000 of the down payment
  
• The second lien is due in full as a balloon payment upon refinance or final payment of the mortgage, or payoff. There is no required monthly payment on the second lien, and it does not accrue interest
• Homeownership education is required when all borrowers are first-time homebuyers