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 | 6.000% | 6.947%7 |
Community Hero 5/5 ARM - As low as | 5.875% | 6.897%18 |
APR Assumptions as of 06/14/2024 01:12 PM
rates subject to change
Get Started!
Call 845-457-7700, option 5, or have one of our Mortgage Loan Consultants contact you.
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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 294X294](/media/aviipahu/community-hero-294x294.png)
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.
![Dream Home 294X294](/media/o01bmcxe/dream-home-294x294.png)
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 $9,500 with an additional $500.00 towards the defrayment of homeownership counseling costs, resulting in the potential maximum assistance of $10,000.00.
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!