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Loan Programs

There are few milestones more exciting than purchasing your first home. More than just a roof over your head, your home is a place where memories are made, something you can truly call your own, and often is your most significant financial investment.

Whatever your next move is, we offer tailored mortgage and loan solutions aimed toward getting you into the home of your dreams. From South Central Pennsylvania to Central Maryland, we have loan options for all of your home financing needs!

How to Determine the Best Loan Program For Your Needs:

  • How important is payment certainty? If knowing that your payment will be the same every month is important, consider a fixed-rate mortgage.
  • How important is rapid equity buildup? If rapid equity buildup is a factor, consider a shorter amortization period, such as a 15-year, fixed-rate mortgage.
  • Other factors to consider include:
    • Ability to qualify at market rates for loan amount selected
    • Anticipated term of occupancy
    • Possibility of significant rate changes
    • Existing up-front costs
Loan Programs Characteristics
First Time Home Buyer Program
  • 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 have had ownership interest in a property in the last three years.

FHA Loans
  • 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
Fixed-Rate Mortgages
  • Interest rate does not change.
  • Principal and interest (P & I) payment 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.
Adjustable-Rate Mortgages (ARMs)
  • 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.
Construction to Permanent Mortgages
  • 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.
Refinance Loans
  • 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
Home Renovation Program
  • 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
    *Talk to a mortgage representative to see if the scope of your project qualifies for this program.
Lot Loans
  • 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
USDA/Rural Housing Mortgages
  • 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.
*Flexible terms available. Subject to credit approval. Program may be withdrawn at any time.
Additional terms and conditions may apply, see a representative for more details.

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