Salin Bank's Home Ownership Program
If you’re ready to buy a home but coming up short for a down payment or the closing costs, Salin Bank can help with its Home Ownership Program.
With this special home-buying program, eligible home buyers receive funds to purchase their home. Best of all, these funds are not a loan, but rather grant money that does not have to be repaid if you stay in the home for at least five years.*
Here’s how the Home Ownership Program works: Eligible families will receive up to $10,000 for a down payment, closing costs, or repairs on a home. They simply must invest a minimum of $1,000 of their own money as part of the program to qualify.
Applicants can participate in the Home Ownership Program if they have not owned a home within the past three years and if their annual incomes are 80 percent or less of the median income in the area in which the home is located. Each applicant also must participate in a qualified Home Buyer Education class. Your loan originator will be able to help homebuyers determine if they meet these requirements.
To learn more about Salin Bank’s Home Ownership Opportunities Program, contact a Salin Bank home lending expert today!
* If a homeowner does not live in the home for the five year period, a repayment of 20% is required for each year not in the home. Please see a Salin Bank Mortgage Representative for additional details and requirements.