MyCommunity Home Loan
Your Opportunity for Home Ownership
The MyCOMMUNITY Home Loan Program was developed to help assist individuals who may not qualify for traditional banking products but hope to own a home. The MyCOMMUNITY Home Loan Program offers special loan terms and qualifications to help you build and establish a record of payment, as well as other benefits to help you through the mortgage process.
Through innovative products, strategic partnerships and financial education, we strive to help everyone in our communities who dream of homeownership.
- Lower down payment requirements
- No mortgage insurance premiums
- Do not need to be first-time homebuyer
- No income limits if you buy in a low to moderate income area
- The ability to use a Individual Tax Identification Number (I.T.I.N.)
- Compatible with down payment assistance programs
- Compatible with a gift from a family member
- Seller may pay your closing costs
- Flexible underwriting
In order to be eligible for this home loan program, you must meet the following requirements:
- You must own and occupy the home you are financing.
- At least one borrower must complete home buyer education courses.
- Income must be below 80% of the FFIEC Median Family Income, or home must be in the low-to-moderate census tract within our assessment area.
In general, the fees charged on this home loan will be very similar to and competitive with other options.
To apply for a MyCOMMUNITY Home Loan, speak with a Community Banking Officer.