Affordable Loan Programs

Fremont Bank is proud to offer flexible mortgage products designed for homebuyers looking into more affordable mortgage options. Both options you will find here—the HomeReady® program and Federal Housing Administration (FHA) loans—contain less stringent requirements that expand the eligibility to obtain and sustain homeownership. Now, borrowers who previously haven’t been able to qualify have more choices. If you’re looking for home financing with a lower down payment requirement, read on to find out if either option is a good fit for you. We’re happy to work with you every step of the way.

FHA Loans

FHA loans are designed to help homebuyers by offering low down payment options and flexible credit qualification. How is that possible? The FHA, a part of the U.S. Department of Housing and Urban Development, insures the loan, so your lender can offer mortgages easier for first time homebuyers to qualify for. Down payments can be as low as 3.5% of the purchase price on a 1-4 unit properties.

FHA mortgage loans are available for home purchases and refinance both with fixed and adjustable-rates. FHA loans offer several key benefits unavailable with other loan products.

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HomeReady® Loans

The HomeReady® program was created by Fannie Mae to address financial challenges experienced by many borrowers. Features of the program are designed to offer expanded eligibility for sustainable homeownership. First-time and repeat homebuyers can purchase a home with a down payment as low as 3% of the purchase price.

Other features include reduced mortgage insurance coverage requirements, flexible sources of income with no minimum contribution requirement from the borrower’s own funds on 1-unit properties and expanded debt-to-income ratios. This enhanced affordable loan is designed to meet the diverse financial needs of responsible, creditworthy borrowers.

Learn More About HomeReady® Loans

Speak with one of our loan officers about how our affordable loan programs can help you secure your new home or refinance your current one.

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Loan Resources

Fremont Bank is dedicated to providing assistance to guide you through the home mortgage process. Check out our Loan Resources page where you can check the status of your application, find out how to get pre-approved and view informative videos.
 
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Today's Rates

View our rates to find a loan that suits your borrowing needs. We offer competitive rates and flexible terms on Purchase Loans, Refinance Loans, Large Loans and Home Equity Lines of Credit for qualified buyers. You can also see customized rates based on your own situation.

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Rate Watch

Are you interested in refinancing or purchasing a new home, but not sure yet? Do you want to know what the market is doing and be alerted when rates start to drop? Sign up for Fremont Bank's Rate Watch Email.

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