Key Features
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Local Processing
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Quick Decisions
Details
A Freddie Mac Conforming Mortgage allows you to borrow up to 95% of the value of the home. Plus, we will service your loan locally.
- Designed for those with a good credit rating and funds for at least 5% down payment plus closing costs
- Range of terms to choose from
- Fixed rate available for 15, 20, and 30 years
- Maximum loan amount of $647,200 on a 1-unit home
- Minimum down payment:
- 5% minimum with Private Mortgage Insurance required
- 20% without Private Mortgage Insurance
- Acceptable sources for down payments:
- 5% with PMI must be the borrower's own funds
- 20% without PMI can include a gift from a family member as long as at least 5% is borrower's own funds
- Acceptable sources for closing costs:
- Borrower's own funds
- Payment options:
- Automatic transfer from another First Citizens deposit account
- Coupon book
- Occupancy:
- Owner Occupied
- Can be up to 4 units if owner occupies at least one unit
- Can be secondary residence