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Home Loan Payment Relief
Program Loan
(Subject to Availability)
As part of a nationwide credit union initiative, NWFCU offers the Home Loan Payment Relief Program (HLPR). The HLPR Loan is designed to make owning a home a reality for members who meet median income limits, have limited savings and have a good credit standing.
Designed for first-time buyers, this program allows homebuyers to take advantage of today’s historically low interest rates instead of waiting to save up for a traditional down payment of 5% - 20%. By turning your dream of homeownership into a reality, you can also stop making those rent payments and start building equity!
Benefits & Highlights
- Low monthly payments make home loans more affordable to people of modest means
- 3/1 ARM - after initial 3-year period, rate can change annually
- Limited to first-time homebuyers
- 100% financing available - Private Mortgage Insurance (PMI) is required
Program Requirements
- Good credit rating
- May not own another property
- Available for primary residence only
- Income at or below the median for the area in which you'd like to buy can make you eligible for this discounted 3/1 ARM
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