First Time Homebuyers
We want to help you buy your first home. Learn more about our First Time Homebuyer program that we are now offering!
First Time Homebuyer Program Requirements:
Documentation Needed for Mortgage Loan Approval
Following is a summary list of various documentation required to complete the loan approval process. Other documentation may be required given a borrower's specific situation, i.e. self employed borrowers may be requested to provide additional financial information on the corporation/company.
Residential Loan Application
For a $120,000 loan with a term of 360 months with an APR of 4.165% - the principal and interest payment will be $572.21, after a 5% down payment requirement. APR = Annual Percentage Rate. These rates are effective as of January 27, 2020. Available rates may change without notice. This program is subject to termination at any time.
All loans are subject to credit and underwriting approval. Certain product exclusions may apply. Loan to Value Ratio (LTV) not to exceed 90%. Loans with less than 20% equity will require PMI insurance, escrow requirements will also apply. Not valid for a second home. First lien only. Certain fees and restrictions may apply, or other terms and conditions may apply. Contact your Mortgage Lender for details.