First Time Homebuyers Program
Get a move on.
In the last five years rents have skyrocketed nationwide, while mortgage rates have remained near record lows.
That means there’s no better time to buy your first home than right now. And we can help you do just that.
Although the process of buying a first home can be overwhelming, the benefits of being a homeowner make it all worthwhile. At Hatboro Federal, we work with first time home buyers to take the stress and confusion out of the loan process.
Hatboro Federal’s First Time Home Buyers Program (1) is specifically designed to help you buy your very first home. We explain your mortgage loan options to help you understand the financing process and take the time to answer your questions.
RATE EFFECTIVE: May 19, 2018
Interest Rate: 4.50%, 4.532% APR (2)
So if you’re ready to take advantage of all the benefits of home ownership, you’ll be glad you waited until now.
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(1) A first time homebuyer is defined as an individual who meets any of the following criteria:
- An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time home buyers).
- A single parent who has only owned a principal residence with a former spouse while married.
- An individual who is a displaced homemaker and has only owned a principal residence with a spouse.
- An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
- An individual who has only owned a principal residence that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
(2) First time homebuyers only. Annual Percentage Rate (APR) as of the publication date for a 30 year term loan. APR based upon a principal loan amount of $100,000 with a 20% down payment. The terms of repayment are 360 monthly payments of $5.07 per $1,000 borrowed. Loan payments do not include taxes or insurance, if applicable, and the actual payment obligation may be greater. First lien, owner-occupied, purchase transactions only. Homeowners insurance required. Loans up to $453,100. A minimum down payment equal to 5.00% of the purchase price is required. Terms up to 30 years. An escrow account is required for all mortgage loans with a Loan to Value Ratio (LTV) of over 75%. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums. Private Mortgage Insurance (PMI) is required on all mortgage loans with an LTV over 80%. Borrower is responsible for all non-bank fees, including its portion of transfer taxes, title insurance and recording fees. Other conditions, including income limitations, may apply. Subject to credit approval, income verification and collateral valuation. Offer subject to change without notice.
For more information about our First Time Home Buyer Program, please call Lee Bergiven or Tim Nogowski in our Lending Office at 215.675.4424.
|Loan Officer||Loan Officer|
|Lee Bergiven||Tim Nogowski|
|NMLS #1096343||NMLS # 73964|