First-Time Home Buyer Program
Our First-Time Home Buyer Program is referred to as Home Loan Payment Relief (HLPR). The HLPR loan can make home ownership more attainable for Members with modest incomes. The program is available to Members who have not owned a residence in the past three years. Household income limits do apply to be eligible.
Features:
- 5/1 ARM w/ 40-year term
- Lower interest rate than standard conforming
5/1 ARM
- Finance up to 90% of the purchase price for primary residence homes (detached) and condominiums
- Free 45-day rate lock
- No prepayment penalty
5/1 CMT ARM
(Maximum Loan: $417,000)
| Rate | Points | Margin | Caps | Index | APR | Est. Pymt.
/$1,000 |
| 5.625 | 0.000 | 2.625 | 2/2/6 | 0.370 | 5.02% | $5.24 |
| 5.500 | 0.250 | 2.625 | 2/2/6 | 0.370 | 5.00% | $5.16 |
| 5.375 | 0.375 | 2.625 | 2/2/6 | 0.370 | 4.97% | $5.07 |
The rates quoted above apply to a 40-year term and are effective as of 01/06/2009. They are not guaranteed until locked, and are subject to change without notice.
The Annual Percentage Rates (APRs) are based on a loan amount of $350,000 for the stated term and a Loan-to-Value of 80%.
Not applicable to pre-approvals without property selected.
To speak to a real estate loan consultant, please call
714/258-4000 or 800/462-8328, extension 8236.
Consultants are available Monday - Friday, from
8 a.m. to 7 p.m., and Saturday, from 9 a.m. to 3 p.m.
