McKenzie Valley FCU is proud to announce a new mortgage program designed specifically for first-time homebuyers. The program offers competitive interest rates, flexible repayment terms, and other benefits that are aimed at making home ownership more accessible. Those who may not have been able to afford a new home in the past can finally achieve their homeownership goals!
According to recent data, the cost of housing in many parts of the country has been rising rapidly. This way, first-time homebuyers find it quite difficult to enter the market. This has resulted in a growing demand for affordable home loan options that cater specifically to this demographic.
The new mortgage program we offer is aimed at meeting this demand by providing first-time homebuyers with a range of benefits. Here are some of them:
Reduced down payment requirement
While many traditional mortgage options require a down payment of 20% or more, we only require a down payment of 5%. This lowers the barrier to entry the market and makes it easier and faster for first-time homebuyers to get the amount they need to get started.
Competitive interest rates
As your interest rate directly affects the total loan cost, it’s important to maintain it at a reasonable level. Taking into account long mortgage repayment terms, an overpayment can be significant. Thus, we strive to help our members get the best deals on the market by reducing interest rates for first-time homebuyers. Our borrowers can save money on their monthly mortgage payments and keep them within their budget.
Flexible repayment terms
Borrowers can choose from a range of repayment options that best fit their financial situation and goals. We offer both fixed-rate and adjustable-rate mortgages, which allows borrowers to tailor their mortgage to their unique needs and budget. Repayment terms are reduced up to 30 years.
We strongly believe that our new mortgage program for first-time homebuyers is a significant development in the current housing market. By providing affordable home loan options, McKenzie Valley FCU is helping to make the dream of homeownership more accessible to a wider range of people. We’re always in touch. Don’t hesitate to contact us and learn more about what we can offer you today!