FIRST-TIME HOMEBUYER

Interested in buying your first home but not sure where to start? Community Financial’s team of local, experienced mortgage experts can make the mortgage process easier. We’ll answer all of your questions on the purchase process, getting preapproved, and finding the right mortgage option for you!

Contact a Mortgage Specialist

Current Mortgage Promotions

Featured Programs:

0% Down Program

Man pointing at house with 0%

  • Finance up to 100% of the lessor of the purchase price or appraised value for a primary residence.
  • Seller contributions (up to 3% of the purchase price) can be used towards the loan costs, prepaids, and prorations.
  • Mortgage insurance premiums are reduced.
  • Must have good credit (700+), no income limitations apply.

Rural Development

Person holding house made of grass

  • Allows lower income families in rural areas the ability to purchase their primary residence with minimal cash out of pocket.
  • A greater contribution from the seller is permitted to help cover expenses related to loan costs, prepaids, and prorations.
  • Attractive pricing and low mortgage insurance premiums even for those with less than perfect credit.

FHA

FHA loan written on house

  • Financing insured by the Federal Housing Administration to promote homeownership.
  • Finance a new primary residence with as little as 3.50% down.
  • A greater contribution from the seller (up to 6% of the purchase price) is permitted to help cover expenses related to loan costs, prepaids and prorations.
  • More favorable pricing and mortgage insurance premiums for those with fair to good credit.

VA Loans

Man pointing at 0% in a house

  • Financing insured by the Department of Veterans Affairs to promote homeownership for eligible veterans, service members and surviving spouses.
  • Purchase a primary residence with $0 down and reduced closing costs. More leniency regarding credit scores and debt-to-income ratios.
  • No monthly mortgage insurance premiums.

Considering Homeownership

Learn more about the upfront and ongoing costs of homeownership and how they will fit in with your other expenses. This educational lesson in our Money Matter$ eLearning Center will explore loan choices, home buying resources and more.
 

Homeownership Learning Module

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