Our First Time Homebuyer mortgage is for individuals who: have not owned a home within the past 3 years or owned a home jointly with a spouse, but not individually, within the past 3 years. This definition includes a married couple if either has not owned a home within the past 3 years.
Counseling required to prepare for homeownership; including mandatory topic of predatory lending. Counseling must be completed by at least one adult resident homebuyer. Maximum loan-to-value is 90%. No private mortgage insurance required. Maximum term is 30 years.
Posted rates are for well qualified borrowers. Final rate determined by credit score.