Looking to buy your first home?
Look no further than FNBT.
Take advantage of
our 2020 First-Time Home Buyers Program
- Application fee waived
- Interest rates will be offered 1/4% below our current residential mortgage rates.
- Pre-authorized payment deductions will come from the borrowers’ FNBT Checking or Savings Account.
- Program runs through 12/31/2020, subject to availability
Borrower Qualifications
- Must be a first-time home buyer. Cannot own or have previously owned a home (investment
or residential)
- Maximum gross yearly income of borrowers is based on the property’s location. Examples: In Allentown, Bethlehem and Easton PA MSA, the income limit is $64,160.00. In Monroe County, PA, the income limit is $63,040.00
- No mobile home mortgages
- Minimum of 3% down with Private Mortgage Insurance. Down payment and closing costs may be in the form of a gift. Borrowers and property must meet all MI requirements for PMI approval.
- Borrowers and property must meet all standard Freddie Mac guidelines and qualifying ratios.
Affordable 3/2 Housing Guidelines and Requirements
3% Minimum Down Payment
Gifts must come from:
- A relative, defined as related by blood, marriage, adoption or legal guardianship
- A domestic partner or fiancé
Reserves: Per AUS Guidelines
Ratios: Not to exceed 45%
Credit:
- Nontraditional Credit - Max LTV 90%
All loans must be manually underwritten by MI Company
- 3 sources of Nontraditional Credit are required
- 1 source must be from a housing expense (rent)