MORTGAGE LOANS: HOME BUYING OR REFINANCING
Build Your Future with Us
We’re With You Every Step Of The Way!
We Handle Your Home With Care.
Your home deserves the best mortgage loan, and since 1948 we’re the local mortgage lender people know they can trust!
FIRST-TIME HOMEBUYER MORTGAGE PROGRAM
Buying a home for the first time doesn’t have to be a scary time! Greenwood Credit Union is here to help you every step of the way with local and personal attention that treats YOU THE BEST! Plus, you get:
- 0.25% Mortgage Rate Discount
- Only 3% Down Payment – gift funds accepted!
- $500 off closing costs
- Additional 0.125% off with Auto Pay from a Greenwood Checking Account
Minimum credit score of 660. Qualification restrictions apply. Offer may change without notice.
FIXED OR ADJUSTABLE RATE MORTGAGE
Because you want the option to best take advantage of today’s interest rate environment. Choosing a fixed rate mortgage lets you lock in your rate for the life of your loan and guarantee your mortgage payment (principal & interest) will never go up. An adjustable rate has a lower initial rate that is fixed for 3, 5, 7 or 10 years. Let us help determine the best product for you.
Frontline Workers Homebuyer program
We provide special financing for those who serve our communities.
Designed for those who work for the following:
Teachers & Professors, Firefighters, Law Enforcement (Federal, State, Local), Medical Professionals & Nurses, EMTs & Paramedics and active or former Military.
Phone: 401-524-8853 (cell) / Main: 401-562-2729
Email: [email protected]
Key Highlights
- Primary residence only
- No current homeownership at time of closing
- Fixed-rate & ARM options (30-year max term)
- Up to 41% debt-to-income ratio
- Low borrower contribution (as little as $1,000)
- Gift funds allowed for down payment & reserves
- Seller concessions up to 3%
What You’ll Need
Income & Employment- Full documentation required
- W-2 or self-employed income accepted
- 2-year history required
Credit Requirements
- Strong payment history required
- No recent bankruptcies, foreclosures, or short sales (last 7 years)
- Minimum established credit (no “no-score” borrowers)
Additional Considerations
- All borrowers must occupy the home
- No non-occupant co-borrowers
- No subordinate financing (no second loans)
- No interest-only or renovation loans
Eligible Property Types
- Single-family homes
- Approved condominiums
Know What You Want in a Mortgage?
Get started fast & easy right here:
Need Some Help to Find the Best Mortgage for You?
For help in choosing the right mortgage for your specific situation, contact Colleen Mooney:
Phone: 401-524-8853 (cell) / Main: 401-562-2729
Email: [email protected]