Mortgages

CONVENTIONAL LOANS

Choose from 10-, 15-, 20-, 25- and 30-year fixed rate terms.

• 80/10/10 Program- Avoid private mortgage insurance and strict lending requirements of a jumbo loan by buying a home with 10% down and two mortgages totaling 90% of the purchase price.
• Home Ready Program- With a 3% down payment, this is a great choice for low- to moderate-income first or subsequent buyers who meet the income requirements.
• First-time Home Buyer Program- This 3% down payment program may be the best option for first-time buyers whose income exceeds the Home Ready requirements.
• Construction Loan Program- Finance the building of your new home by securing a loan to cover project costs before obtaining long-term funding.

GOVERNMENT LOAN PROGRAMS

• Federal Housing Administration (FHA)- With a down payment as little as 3.5% and flexible underwriting guidelines, you may qualify for FHA financing to protect the lender in the event of defaulting on the loan.
• Veterans Administration Program (VA)- With a 3% down payment and no income restrictions, this is the right choice for low- to moderate-income home buyers.
• Rural Development Loan Program- A $0 down payment and reduced monthly mortgage insurance makes this USDA Single-Family Program the right choice for low- and moderate-income rural residents.

SPECIALTY PRODUCTS

• Bridge Loan Program- Use this 12-month single-pay fixed-rate loan against a current property to finance the purchase of your next home. Only pay interest until your current home is sold and the balance is fully paid.
• Portfolio Loan Program- Borrowers benefit from the 3/1, 5/1 or 7/1 adjustable rate first mortgage for times when a conforming loan will not work.
• Lot Loan- Choose this loan to purchase land on which you plan to develop and construct a home in the future.
• First Time Home Buyer Grant Program- Ask about this $7,500 grant available to qualified applicants.

HOME EQUITY PRODUCTS

• Home Equity Line of Credit (HELOC)- Use the equity in your home for any purpose with an option to pay only interest during the first five years of the loan.
• Home Equity Fixed Rate Loan- This fixed rate 5-year balloon loan can be amortized over 15 years to help fund home improvements, major purchases or other financial needs you may have.