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Let the Rivermark First Time Buyer Program Guide You
We understand the home-buying process can be confusing. That's why Rivermark has experienced Mortgage Officers to guide you through the process. We can make the path to ownership easier with loans that eliminate the need for a big down payment and hold down other costs.
3% Down First Time Buyer
Apply Online Get a QuotePlease choose the 60-day lock option when applying for a refinance. Your rate is not locked until you get confirmation from a Mortgage Loan Officer. We look forward to serving you.
For faster service, start your application online. A Rivermark mortgage professional can get you pre-approved quickly. A pre-approval shows realtors that you are a serious buyer and can help to speed up the transaction when you’re ready to buy. Call us at 503.906.9497.
Owning your own home can be an excellent investment. It can also be financially draining if you aren’t regularly maintaining your home. Regular maintenance can take time, planning, and money, but it can help you to save on unexpected repair costs and keep the value of your home up. Below, we share some of our tips for becoming a financially responsible homeowner.
There are many ways you can begin saving for your home loan down payment. Some ways will be easy, while others will take longer and require more sacrifices. So long as you’re committed to owning a home one day, these small sacrifices will be well worth it to accomplish your goals. Here a few ways you can start saving for a home loan down payment today.
There is a lot to know (or learn about) when you’re a first-time homeowner. Such as scheduling mortgage payments and putting together an attractive yet functional curb appeal. But there’s more. As new parts of this experience emerge, there are a handful of things that you should be prepared for. Here are five facts about being a first-time homeowner that you should take into consideration.
*Available for primary residence purchases only up to 100% LTV. Applicants must meet credit and ability to repay requirements. Annual Percentage Rates (APR) effective as of the date shown above. This is an 80/20 mortgage loan. Example is based on a $200,000 purchase price. A first mortgage (5/1 ARM) of $160,000 at
with an APR of
has principal and interest payments of
for 60 months. The example APR includes an origination fee of $1,495. Actual APRs for individual loans may differ. Adjusts no more than 2% annually after 60 months. Rate increases are limited to a maximum of 6% over the initial rate during the lifetime of the loan. A second mortgage of $40,000 borrowed at
with an APR of
will have principal and interest payments of
for 240 months. Tax and insurance payments not included in examples. Property hazard insurance is required. 3% seller concessions allowed with 2 months PITI reserves. 0% seller concessions without 2 months reserves. No gift funds allowed towards closing costs. Escrow account required for taxes and insurance. Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Adjustable Rate Mortgage (ARM) interest rates and payments are subject to change during the loan term. That change can increase or decrease your monthly payment. Consult a tax adviser for information regarding the deductibility of interest and charges. Must be a member to borrow.
**APR and payment calculations are based upon a single family, owner occupied residence with a loan amount of $160,000, 69.99% loan-to-value, origination fee is $1,495, and standard 3rd party charges (e.g. appraisal and title). Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan-to-value, loan purpose (such as investment property) and property type. Representative payments do not include taxes and insurance premiums. Property and/or flood hazard insurance may be required. Actual payment obligation will be greater. Maximum loan limits may apply. Interest rates and APRs offered are subject to change without notice.
Home Mortgage Disclosure Act NoticeThe HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website. (www.consumerfinance.gov/hmda). |
