The New Pathway Home Loan opens doors for Low to Moderate income homebuyers, giving them the ability to purchase a new single-family residence with minimal down payments and closing costs.
FEATURES
• 100% Financing
• Owner Occupied Single Family Homes &
Condominiums are Eligible
• Minimum Borrower Contribution of
1% Required
– Can be met through payment of closing costs,
prepaids, and/or the 2 month reserve requirement
– Can be gifted funds
• Competitive Fixed Rate
• No Mortgage Insurance Required
• Competitive Closing Costs
| Terms | Down payment equity | Rate | Points | APR* | Discount Rate** | Discount Points | Discount APR* |
|---|---|---|---|---|---|---|---|
| 15 Year | 5% | 6.250% | 0 | 6.567% | 6.000% | 0.5 | 6.394% |
| 20 Year | 5% | 6.500% | 0 | 6.756% | 6.250% | 0.5 | 6.568% |
| 30 Year | 5% | 6.750% | 0 | 6.949% | 6.500% | 0.5 | 6.745% |
* Annual Percentage Rate
** Best rate available at cfsbank.
Above APR’s assume a $100,000 loan amount for term stated with maximum LTV of 85%. Monthly payment example: 360 monthly payments of $6.40 per $1,000 borrowed at 6.625% Interest Rate with a corresponding 6.827% APR.