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The paperwork and costs of buying a home can feel like a long, uphill battle, but it doesn't have to. Various programs are available that reduce—or remove—some of the barriers to homeownership, especially for homebuyers with lower incomes or homes in certain areas.
Community-funded programs can lower costs for some residents.
Through the Community Reinvestment Act (CRA), we provide flexible loans for people with low-to-moderate incomes in underserved areas.
Programs for first-time homebuyers and other qualified borrowers in eligible locations.
Whether you’re already house hunting or just getting started, find out if you qualify for a program that lowers your costs. Each program has its own requirements, and some are available only in specific areas. That's where we can help. Contact us today to find out if you are eligible for any of these money-saving opportunities.
As part of our commitment to the Community Reinvestment Act (CRA), we are proud to offer these CRA-specific loans that feature low down payments, flexible qualifications, and savings opportunities. They can be a great fit for people who have low to moderate incomes or want to revitalize certain neighborhoods.
Flexible Qualifications
This loan features flexible qualifying criteria and options with no down payment. Available in select areas for a new home purchase or purchase with renovation.1
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Flexible qualifications for the purchase and renovation of primary residence properties located in select areas of Michigan.2
Pontiac, Michigan
A program to bridge the gap between price and appraisal for homes in Pontiac, Michigan. 3
Affordable
These loan programs make it easier for creditworthy low-income borrowers to buy a home.
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These programs make homeownership more sustainable for qualified borrowers with low or moderate incomes.
BUY OR REFINANCE
With this loan, you can apply for a fixed-rate conventional mortgage with your Individual Tax Identification Number (ITIN) instead of an SSN.
Saving enough for a down payment can be tough. Let’s see if we can help. We offer down payment assistance bonds, grants, gifts, and many other ways to help homebuyers overcome this obstacle. Contact us to see what's available in your area.
Qualified first-time homebuyers receive up to 3% of the purchase price or up to $3,000 per transaction for down payment and closing costs for all eligible locations. Arizona, California, Florida, New Jersey and New York are eligible for up to $10,000 per transaction.
This program offers up to $8,000 in grant and gift funds to eligible first-time homebuyers living in a designated area (census tract). The new home can be outside the census tract but must be the borrower’s primary residence.
Michigan homebuyers can save on closing costs and get up to $10,000 in a no-interest down payment assistance loan through the Michigan State Housing Development Authority.
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7th Largest Bank Mortgage Originator
We're an award-winning lender with more than 35 years of experience connecting customers to the right mortgage solution for their needs. With hundreds of conventional, jumbo, and government-backed options available, we'll find the right home loan for you, too. Whether you are buying a new home or ready to refinance, you can trust our simple application and streamlined process to get you to closing on time.
Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. Programs available for primary residence only, and homeownership education may be required for a number of these programs. Income and area limitations may apply. Generally, the smaller your down payment percentage, the higher your interest rate. Please consult your tax advisor regarding the deductibility of interest. Important information will be provided to you in the disclosures you receive after we have received your application and the loan documents you are provided at loan closing. A loan-to-value ratio above 80% may result in a need for mortgage insurance. If mortgage insurance is required, the amount of your payment will increase.
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