First-Time Homebuyer Program
We know that buying a home for the first time is a daunting process, which is why we’ve created a special First-Time Homebuyer Program to help you through it!
| Benefits |
|---|
| Our first-time homebuyer program loan offers a fixed rate, so you'll have the same interest rate for life. | - No money down, 100% financing
- No income limitations
- No private mortgage insurance required
- Reduced loan origination fee
- Local lending
|
Fixed Rate Home Loans
This is the most popular type of home loan because it is easier to budget.
| Loan Type | Benefits |
|---|
| Fixed rate home loans have the same interest rate for the life of the loan. Generally, the shorter the term, the lower the rate. | - Protection from rising interest rates
- Predictable monthly payments means it's easy to budget
- Low, affordable interest rates
- Multiple terms available
- No initial loan application fees
|
Jumbo Mortgage Loans
Looking for a luxury or high-end home? Or a house in a high-demand area?
| Benefits |
|---|
| Fixed and variable rate options available for loan amounts above the conforming limit of to $766,550. | - Competitive interest rates
- Purchase and refinance options available
- Loan amounts up to $2 million
|
FHA Home Loans
The Federal Housing Administration backs qualified loans provided by Northwest Community to promote home ownership to those with limited savings.
| Loan Type | Benefits |
|---|
| This loan is good for those who are looking to buy their first home but don’t have a 10% down payment. | - Low down payment requirement
- Flexible credit requirements for those working on improving their credit
- Gifted down payment funds from family are eligible
|
VA Home Loans
The Department of Veteran Affairs backs mortgages provided by Northwest Community to qualified military members.
| Loan Type | Benefits |
|---|
| A mortgage loan for qualified military members. | - No down payment required
- No monthly mortgage insurance premium
- Flexible credit requirements for those working on improving their credit
- Available to qualified Veterans who are looking to purchase or refinance
|
ITIN Home Loans
| Loan Type | Benefits |
|---|
| A mortgage loan for members with ITINs. | - Helps build credit
- Become a homeowner without needing a social security number.
|
Twin 97 Home Loans
Don’t let the upfront costs deter you from your dream of buying a home. Our Twin 97 home loan aims to ease the burden with lower down payments and fewer restrictions on new home buyers.
| Loan Type | Benefits |
|---|
| A perfect loan for first-time home buyers who have as little as three percent to put down on a home. | - Affordable 3% down payment, with a budget-friendly fixed rate
- 100% gift funds are permitted for down payment and reserve requirement
- Reduced mortgage insurance premiums available
- No income restrictions
- Homebuyer education class not required
- While this program allows for primary residences only, the borrower may have owned other residential properties
|
Apply for a Twin 97 Home Loan
All loans subject to credit approval. Minimum FICO is 680. Standard closing costs and fees still apply. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. Mortgaged property must be located in Washington or Oregon state. Certain restrictions may apply. Contact a mortgage loan officer for more details. Equal housing opportunity lender. NMLS #530610
Twin 100 Home Loans
Realize your dream of owning a home. Finance 100% of your mortgage with zero percent down payment.
| Loan Type | Benefits |
|---|
| A great option for first-time home buyers as it provides 100% financing, requires no down payment, and doesn’t require you to attend home buyer education classes. | - Does not require you to purchase your home in targeted markets
- Homebuyer education class not required
- No income restrictions. Does require a 43% maximum debt-to-income ratio
- Does require that your home meet the owner-occupancy requirements and condominium warrantability
|
Apply for a Twin 100 Home Loan
All loans subject to credit approval. Minimum FICO is 700. Standard closing costs and fees still apply. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. Mortgaged property must be located in Washington or Oregon state. Certain restrictions may apply. Contact a mortgage loan officer for more details. Equal housing opportunity lender. NMLS #530610
