Community Lending Programs
Our Community Lending programs offer discounted rates and down payment assistance to help eligible home buyers purchase with less money upfront and save throughout their loan.
What is Community Lending
Community lending programs like CMG Classic Community Lending and CMG Home Run Community Lending, help make homeownership more affordable by expanding access to mortgage financing in eligible communities. These programs may offer lower down payment options, reduced interest rates, down payment or closing cost assistance, and flexible qualifying guidelines for eligible homebuyers. Whether you're a first-time home buyer or looking to purchase in a designated community, community lending programs can help you achieve your homeownership goals with more affordable financing solutions.
Highlights
Community Lending Features
Discounted rates for eligible locations
Community Classic helps make homeownership more affordable by offering discounted interest rates on eligible Conventional Loans.
Highlights:
- Eligibility based on the property's location
- No income limits
- Fixed- and adjustable-rate options
- Available with eligible conventional financing
- Gift funds and grants accepted toward eligible closing costs
Down payment assistance for low-to-moderate income buyers
Home Run helps eligible low-to-moderate-income borrowers reduce upfront costs with down payment assistance and low down payment requirements.
Highlights:
- Up to 5% down payment assistance
- Financing up to 101.5% CLTV
- Home buyer contributes as little as 1%
- Minimum 640 FICO® Score
- As little as 2 months reserves
- Available with 15- and 30-year fixed-rate mortgages
Connect with us to check eligibility
The right program depends on where you're buying, your income, and your financing goals.
Frequently Asked Questions
We’re here to help! Find answers to your everyday banking questions.
Community Classic is a conventional mortgage program that offers discounted interest rates for eligible homes located in qualifying communities.
Eligibility is determined by the property's address or ZIP code. Your loan officer can verify whether a home is located in an eligible area.
No. Community Classic eligibility is based on the property's location rather than the borrower's income.
Home Run is an affordable lending program designed for eligible low-to-moderate-income borrowers that combines low down payment requirements with down payment assistance.
Eligible borrowers may qualify for up to 5% down payment assistance, allowing financing up to 101.5% CLTV, subject to program guidelines.
Home Run borrowers may contribute as little as 1% toward their down payment if they qualify.