Northwest Federal is making home ownership more affordable than ever with these mortgage options:
Qualified borrowers can purchase a home with no money down! Our 100% Financing option is available on primary residence properties (single-family, townhome, condominium) on loan amounts up to $650,000. This mortgage option also features a fixed-rate term—your rate will never increase for the length of the loan.
Well qualified borrowers will benefit from this 100% financing option in which Northwest Federal pays the private mortgage insurance (PMI) on the borrower’s behalf.
With Homebuyer’s Edge, you’ll:
- Save on out-of-pocket costs since no down payment is required
- Save on monthly payments with Lender paid Private Mortgage Insurance
- Enjoy peace of mind with a fixed-rate loan that will never increase for the length of the term
Homebuyer’s Edge mortgage option is available on primary residence properties (single-family, townhome, condominium) on loan amounts up to $650,000.
Our 3% Down financing option is available for first-time home buyers (and repeat buyers) purchasing a primary residence (single family, townhome or condominium). It's a great solution for buyers who want less out-of-pocket expense when purchasing a home—the down payment amount can even be a gift from mom and dad!
- Programs available to assist with funds for down payment and closing costs
Learn more about these programs designed for low and moderate income level first-time homebuyers and public service workers.
- Family Share Secured Loan3
This option lets first-time buyers obtain a mortgage with just a 5% investment of their own funds, provided they have a family member willing to provide the additional 15%. When you combine the two, it equals a 20% down payment—saving the home buyer from having to purchase Private Mortgage Insurance.
1 Not all borrowers will qualify; credit qualifications apply.
2 Not all borrowers will qualify for Homebuyer’s Edge; credit qualifications apply. Private Mortgage Insurance (PMI) is required to be paid by the lender.
3 Normal terms and conditions do apply. Not all borrowers will qualify. Family members as defined by Fannie Mae, include: borrower's spouse, child or other dependent or by any other individual who is related to the borrower by blood, marriage, adoption or legal guardianship; or a fiance, fiancee, or domestic partner.