Expanded Approval Timely Payment Rewards

We say "yes" to underserved borrowers
Our Expanded Approval helps borrowers with less-than-perfect credit buy a home at a competitive interest rate.  In addition, Expanded Approval's Timely Payment Rewards^® feature is a rate reduction incentive to encourage borrowers to improve their creditworthiness by making their payments on time for a consecutive 24-month period, thus qualifying them for a one-time rate reduction.

Consumer benefits

• Loan amounts up to 100% of the purchase price.
• Borrowers only need to make a minimum contribution toward down payment and/or closing costs of at least $500. of their own funds (for LTVs greater than 97%), or 3% from flexible sources of funds (for LTVs over 95%).
• Potential to lower their mortgage payment after making timely payments for a specified period, without the cost of refinancing.
• An effective alternative to FHA financing.
• Available on fixed mortgages only.