Special Programs for Home Buyers
Whether you are buying a home for the first time or haven't owned a home in 3 years, Walden Savings Bank provides its own first time homebuyer loan program that offers a low 3% down payment. We'll be with you every step of the way. Contact one of our experienced Mortgage Consultants to discuss your first time homebuyer loan options.
Mortgage Rates
| Loan Type | Rate | APR |
|---|---|---|
| First Time Home Buyer 5/5 ARM - As low as | 5.500% | 6.567%7 |
| Community Hero 5/5 ARM - As low as | 5.375% | 6.518%18 |
APR Assumptions as of 11/01/2024 09:10 AM
rates subject to change
Get Started!
Call 845-457-7700, option 5, or have one of our Mortgage Loan Consultants contact you.
First Time Home Buyer Loan
We couldn’t say it better or explain it more simply - our First Time Homebuyer Loan features an adjustable interest rate that changes every 5 years. It’s flexible in many ways.
- Low down payment with up to 97% financing with mortgage insurance
- Purchase or Construction
- Index is based upon the 5-year CMT (Constant Maturity Treasury)
- No Application Fee
- Can be combined with grant monies
- No income, geographic or purchase price limitations
Community Hero Loan Program
Thank you for your service! The Community Hero Loan Program is tailored to Veterans or active Military Members who want to purchase a home. It utilizes our competitive 5/5 Adjustable Rate Mortgage with a 0.125% discount to the interest rate and there is no Application fee.
- Low down payment with up to 97% financing with mortgage insurance
- Purchase or Construction
- Index is based upon the 5-year CMT (Constant Maturity Treasury)
- No Application Fee
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Borrowers will need to document one of the following:
- Current income derived from active duty or military retirement; or
- Military service with DD Form 214 – Certificate of release or Discharge from Active Duty (Dishonorable discharge is ineligible); or
- Eligibility for a Veterans Administration mortgage with a current Certificate of Eligibility.
Homebuyer Dream Program Plus®
This a program provides grant funds to be used towards down payment and closing cost assistance to eligible first-time homebuyers earning between 80% and 120% the Area Median Income (“AMI”).
The maximum grant that a household may receive is up to $19,500 with an additional $500.00 towards the defrayment of homeownership counseling costs, resulting in the potential maximum assistance of $20,000.00.
Learn more about eligibility or contact our team for more information.
Contact one of our First Time Home Buyer Loan Consultants to get your process started!
