Mortgage Loan Types

• Fixed interest rate and monthly principal and interest payments that never change
• Various term lengths available
• Shorter term lengths help to save on interest; longer term lengths provide lower monthly payments

• Start with fixed payments for 5, 7 or 10 years
• Annual adjustments following initial fixed period
• Interest rate and monthly payment may change

• Minimum loan amount of $484,351^*
• Fixed-rate and adjustable-rate loans available
• Flat origination fee on any loan amount

• Zero Down Payment Home Loan
• Get 100% financing for your home purchase
• Retain liquid assets and increase purchasing power
• Build equity faster than traditional 30-year mortgage term

• FHA fixed rate mortgage
• Insured by the Federal Housing Administration
• As low as 3.5% down payment
• Fixed monthly principal and interest payment; various terms available
• Minimum 620 FICO score

• VA fixed rate mortgage
• Guaranteed by the Department of Veterans Affairs
• 100% Financing available
• Minimum 620 FICO score
• Fixed monthly principal and interest payments; various terms available
• Exclusively for servicemembers and veterans

• USDA loan
• Guaranteed by the U.S. Department of Agriculture, if eligible*
• Get up to 100% financing
• Minimum 640 FICO score

• Other assistance programs
• Options available for down payment and closing costs assistance
• Can be utilized with either conventional or government loan programs

The Neighborhood Connection loans provide affordable financing options for borrowers in low- and moderate-income census tracts. The programs offer borrowers up to 100% loan-to-value (LTV)¹ financing to purchase or refinance the existing balance on their mortgage. In addition, the Budget Booster allows up to 105% combined loan-to-value (LTV)¹ financing for consolidating debt, home improvements and repairs.

Neighborhood Connection Home Loan² – to purchase or refinance your home

• Eligible borrowers receive $2,500 Neighborhood Connection grant toward closing costs³
• Satisfactory employment history
• Program only applies to purchases and refinancing of existing mortgage balance of primary residences or to refinance the balance of your existing mortgage
• Minimum FICO score above 580⁴
• Borrow up to $331,760
• Home buyer education with select HUD approved agencies required for all borrowers
• No late payments on any open accounts in last 12 months
• Fixed-Rate Product

Neighborhood Connection Budget Booster Loan² – for consolidating debt, home improvements and repairs

• Minimum FICO score above 580⁵
• No bank fees at closing
• Competitive interest rate, low monthly payments
• Minimum two tradelines or non-traditional credit
• Satisfactory employment history
• Fixed-Rate Product
• No late payments on any open accounts in last 12 months
• Borrow up to $10,000⁵

• Simplify building your new home under one mortgage team
• Borrow up to $2 million for land, labor and materials
• Interest only payments during construction period
  

• Ultimate Cash-out Refinancing Program
• Get up to 95% loan-to-value (LTV) for your home refinancing
• Access more of your home equity at higher LTV limits
• Lower monthly payments through longer terms at fixed rates
• Adjustable rate mortgages available
  
  
• Rate/Term Refinancing
• Switch from an adjustable-rate loan to a fixed-rate loan
• Pay less interest with a shorter term
• Convert your FHA loan to a conventional loan