Home Loan Options

Overview
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To find the right loan, consider which of these statements best describes what you are looking for:

FIXED RATE loan

I want a predictable monthly mortgage payment that will not change.

Adjustable Rate loan

I am comfortable with my interest rate changing over time if I have a lower rate in the early years of the loan.

NO DOWN PAYMENT MORTGAGE

I am buying a home for $200,000 or less and would like to finance the full purchase price.

JUMBO loan

My loan amount will be more than $510,400 and my down payment will be at least 10% of the purchase price.

95% JUMBO LOAN

My loan amount will be more than $510,400 and I would like to finance up to 95% of the purchase price.

100% PHYSICIAN FINANCING

I am a physician interested in up to 100% financing for my home purchase.

USDA loan

My new home will be in a rural area.

FHA loan

I am looking for flexible credit requirements with a low-down payment.

VA loan

I am serving in the United States Armed Forces or am a veteran, reservist or member of the National Guard.

NC Home Advantage loan

I am purchasing a home in the state of North Carolina and my annual income is $89,500 or less.

Resources

Down Payment Assistance
Explore Freddie Mac BorrowSmart Program

Mortgage Translations

Access a collection of commonly used mortgage documents translated into other languages. The collection includes resources such as a mortgage application, borrower education materials, a glossary of mortgage terms and more.

Mortgage Translations

Mortgage loans are subject to credit approval.

Common features of our most popular mortgage loans include:

	down payment of at least 5%	Special qualifiers
Fixed Rate
Adjustable Rate
No Down Payment Mortgage¹		Maximum loan amount $200,000
Jumbo	Requires 10% minimum down payment
95% Jumbo Loan
FHA
100% Physician Financing¹		Maximum loan amount is $510,400
VA		Current military member or veteran
USDA		Residence must be a rural area
NC Home Advantage		Annual income of $89,500 or less

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Mortgage loans are subject to credit approval.

¹Based on the lesser of the sale price or appraised value. Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for federal income tax purposes. Consumers should consult their tax advisors for further information regarding the deductibility of interest and charges.

Our most popular mortgage loan option, down payments start at 3% of the home’s purchase price.
• Never worry about rising interest rates.
• Flexible terms.

ADJUSTABLE RATE MORTGAGE

Lower interest rate during the first years of your loan.
Rate is set for a predetermined period, then will rest based on loan terms and conditions.

NO DOWN PAYMENT MORTGAGE

Finance up to 100% of the home purchase price or appraised value.
The maximum loan amount is $200,000.
Available to all borrowers, not just first-time homebuyers.
There is no limit on the amount of income earned by the homebuyers.
A variety of terms are available.

For larger loan amounts, with both fixed and adjustable terms available.
Available for primary residences, second homes and investment properties.
Down payments start at 10% of the home’s purchase price.

The maximum loan amount is $2,000,000.
Private Mortgage Insurance (PMI) is not required.
For the purchase of primary residences only.
Gift funds are allowed to fund the down payment and closing costs.
The borrower may have an unlimited number of other financed properties.

100% PHYSICIAN FINANCING

Finance up to 100% of the home purchase price or appraised value.*
The maximum loan amount is $510,400.
Private Mortgage Insurance (PMI) is not required.
A variety of terms are available.

* Based on the lesser of the sale price or appraised value. Interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for federal income tax purposes. Consumers should consult their tax advisors for further information regarding the deductibility of interest and charges.

USDA LOAN (U.S. DEPARTMENT OF AGRICULTURE)

Insured by the U.S. Department of Agriculture.
Geared toward rural property buyers who meet specific income requirements.
Low- or no-down payment.

FHA LOAN (FEDERAL HOUSING ADMINISTRATION

Most flexible qualifying requirements.
Ideal for first-time homebuyers.
Insured by the Federal Housing Administration.
Down payment as low as 3.5% of purchase price.

VA LOAN (VETERAN AFFAIRS)

Low- or no-down payment.
Guaranteed by the Department of Veteran Affairs.
Jumbo option available for larger loan amounts.

NC HOME ADVANTAGE MORTGAGE

Down payment assistance programs available.
You must live in the home as your primary residence within 60 days of closing.
Credit score must be 640 or higher.
Available to first-time home buyers as well as those who have previously purchased a home.

Home Loan Options

To find the right loan, consider which of these statements best describes what you are looking for:

FIXED RATE loan

Adjustable Rate loan

NO DOWN PAYMENT MORTGAGE

JUMBO loan

95% JUMBO LOAN

100% PHYSICIAN FINANCING

USDA loan

FHA loan

VA loan

NC Home Advantage loan

Resources

Down Payment Assistance Explore Freddie Mac BorrowSmart Program

Mortgage Translations

Common features of our most popular mortgage loans include:

Scroll to view the rest of the table.

Down Payment Assistance
Explore Freddie Mac BorrowSmart Program