VISALIA FIRST TIME HOMEBUYERS
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| interest only PLUSsm Designed to enhance affordability and home ownership opportunities by allowing borrowers to pay only the interest on their loan for a fixed period of time. After that, borrowers pay principal and interest at the same low interest rate. The program features a conventional loan with a below market fixed interest rate, 35 year term, and interest-only payments for the first five years. The interest rate does not change for the entire 35 year term. The interest only PLUSsm loan has a maximum Loan-to-Value (LTV) limit of 100% and can be used together with CalHFA approved down payment and/or closing cost assistance options for a total Combined Loan-to-Value (CLTV) of 107%. The borrowers qualify at eh interest-only payment, plus impounds. |
For more information, contact us at All loans subject to credit approval and property appraisal. Programs and rates subject to change without notice. National City Mortgage, a division of National City Bank. |
The Premier Path To Home Ownership - CalHFA and National City Mortgage