Loan Programs

• Must be a first time home buyer*.
• Fixed interest rate, 30 year loan with no mortgage insurance.
• 100% or less of median income for given area.
• As little as 3% down, 1% of purchase price must come from borrowers own funds.
• 6% maximum seller contribution.
• All applicants are required to participate in First Time Home Buyer education.

*Borrower must not had ownership interest in a property in the last three years.

• Fixed interest rate with 30 and 15 year terms
• Lower interest rates than conventional programs
• No income limits
• As little as 3.5% down, may be gifted
• 6% maximum seller contribution

• Interest rate does not change.
• Principal and interest (P & I) does not change.
• Fixed-rate mortgages fully amortize over a defined period of time and are paid in-full at the end of the loan term.
• Different loan terms are available (10, 15, 20, 25, and 30 year terms are available).
• The shorter the term, the faster equity is built and the loan is paid off.

• There is potential for the interest rate/ payment to fluctuate.
• ARMs transfer to borrowers a portion of the risk associated with a changing economy.
• In exchange for sharing the risk, ARMs offer borrowers initial interest rates that may be substantially lower than fixed-rate mortgages.
• The lower interest rate may help borrowers qualify more easily; qualifying factors may vary.

• We provide a mortgage to build your dream home that has a construction period of up to 9 months and will automatically convert to permanent financing.
• The construction mortgage is an ARM mortgage during the construction period with various conversion options.
• Financing is available up to 95% of the lesser of the appraised value or acquisition cost, and lot equity can be applied towards the down payment.
• Borrower pays “interest only” during the construction period as the home is being completed.
• Flexible draw schedules to work with any construction project.

• Fixed rate and adjustable rate loans
• Available for primary residences, vacation homes and investment properties
• Financing up to 95% of appraised value for rate or term reduction refinances
• Financing up to 80% of appraised value for cash out refinances
• Closing costs can be wrapped into new loan – no cash out of pocket
• Easy process and local processing

• For existing homes or new homes that need
  improvements
• Various program and term options available
• Fixed rate option available for borrowers who meet
  secondary market guidelines
• Flexible draw schedule options available
• 4, 6 and 9 month build periods available
• One time close with modification upon completion

• Loans to purchase the perfect lot so you can start planning for the new home of your dreams.
• Flexible programs to meet any budget while you complete the plans for your new home construction.
• Financing available up to 90% of the lesser of the appraised value or purchase price for borrowers with credit scores of 720 and above, and up to 80% for credit scores below 720.
• Minimum credit score is 660

• Borrowers must meet income requirements in order to qualify for the program.
• The subject property must be located in the areas designated as “Rural Housing Eligible”. Contact one of our Loan Originators for more details.
• USDA mortgages are fixed-rate mortgages.