Thinking About Building or Renovating?

• Year 1: In the first year, the interest rate is 2% lower than the note rate
• Year 2: In the second year, the interest rate is 1% lower than the note rate
• Year 3 & Beyond: Once the first two years are completed, interest is calculated at the note rate

Program Highlights:

• Borrower must qualify at the note rate
• Standard agency guidelines apply
• Only seller funds can be used to buy down the interest rate
• Borrower funds cannot be used
• Eligible on Conventional, FHA, and VA loans
• Primary, single family residence only

Did you know you could have as low as a 0% down payment to buy a home? CLICK HERE TO SEARCH

This program offers two term options: a 30-year fixed-rate mortgage or a 7/1 ARM (Adjustable-Rate Mortgage). The ARM offers a lower, fixed rate for the first 7 years, giving buyers time to build equity and plan for the future. This is a 30-year loan with an initial fixed-rate period of 7 years followed by an adjustable-rate period which then adjusts every year based on current interest rates. The rate may increase after closing.

Program Highlights:

• Up to 100% financing (0% down payment)
• Primary residence, purchase only 
• No income or property location restrictions
• Loan amount up to conforming loan limits  

• 5/5 ARM: Fixed rate for five years and then adjusts every 5 years based on current interest rates.
• 7/1 ARM: Fixed rate for seven years and then adjusts every year based on current interest rates.
• 10/1 ARM: Fixed rate for ten years and then adjusts every year based on current interest rates.

There are many reasons borrowers choose an ARM loan over a fixed-rate:

• ARM loans can keep mortgage payments lower during the early years of the loan.
• ARM loans can be more favorable for those planning on moving in the next few years, such as individuals seeking starter homes or homeowners who may anticipate downsizing within the next 5 to 10 years.
• ARM loans may be a good option for those that think interest rates will decrease in the future.

Program Highlights:

• Primary and second homes only
• Up to 95% Loan-To-Value (5% down payment) on primary purchases and rate/term refinances
• 90% Max LTV allowed for second home purchases and rate/term refinances
• Virginia, North Carolina and South Carolina

In addition, when interest rates for 30-year fixed-rate mortgages are high, an Adjustable-Rate Mortgage (ARM) loan can be favorable. 7/1 and 10/1 ARMs are 30-year loans with an initial fixed-rate period followed by an adjustable-rate period.

• 7/1 ARM: Fixed rate for seven years and then adjusts every year based on current interest rates.
• 10/1 ARM: Fixed rate for ten years and then adjusts every year based on current interest rates.

Program Highlights:

• Up to 95% Loan-To-Value (5% down payment) on primary purchases and rate/term refinances
• 90% Max LTV allowed for second home purchases and rate/term refinances
• 80% Max LTV allowed on cashout refinances
• Commitment fee is 1.5% of the loan amount
• No MI required
• Conforming loan maximum by market
• Two most recent bank statements to verify closing funds
• 1 year tax return filed with ITIN to support income
• At least 2 credit lines with minimum 1-year history for each borrower

Refinance options may be available for this remaining balance. This program is based on a 20% down payment with an initial period of 7 years amortized for 30 years. At the end of the balloon period, the balance is due and payable. This is an excellent option for borrowers looking to lock into a lower rate for an extended period of time in a rising rate environment.

Program Highlights:

• Up to $1,000,000 loan amount
• Single unit properties only
• Primary and second home options available
• VA and NC homes only
• 80% maximum loan-to-value | 70% maximum loan-to-value on second home
• Ability to use qualifying assets for income qualification regardless of borrower's age
• Streamlined application and approval process
• Fixed rate for 7 years with a balloon payment feature at the end of the 7-year term
• Property address required

Program Highlights:

• Extended lock available up to 270 days
• 0.50 point due upfront and refunded at closing
• Property Address Required
• Option to float down C&F Mortgage product/rate prior to close
• Refundable .50 Point may be used towards rate buydown
• View full product description under C&F 7-Year Balloon with 30-Year Amortization

This portfolio product, offered by C&F, provides the opportunity for homeowners to finance a higher-priced home at a lower rate for 7 years with a 30-year amortization. This allows the monthly payment to be lower than a 30-year fixed rate throughout the term of the loan and then the remaining balance may be refinanced at the end of the 7-year term (known as a balloon payment). This program is based on a 20% down payment with an initial period of 7 years amortized for 30 years. At the end of the balloon period, the balance is due and payable.

Program Highlights:

• Up to $1 million loan amount
• Single unit properties only
• Primary and second home options available
• VA and NC homes only
• 80% maximum loan-to-value on primary | 70% maximum loan-to-value on second home
• Ability to use qualifying assets for income qualification regardless of borrower's age
• Streamlined application and approval process
• Fixed rate for 7 years with a balloon payment feature at the end of the 7-year term
• Extended lock options available

This allows the monthly payment to be lower than a 30-year fixed rate throughout the term of the loan and then the remaining balance may be refinanced at the end of the 7-year term (known as a balloon payment). This program is based on a 20% down payment with an initial period of 7 years amortized for 30 years. At the end of the balloon period, the balance is due and payable.

Program Highlights:

• Must meet qualifying criteria for the program
• Rate can be bought down by builder, seller or borrower
• Up to $1 million loan amount

Program Highlights:

• 1.50 point pricing incentive on conventional loans
• Must be in designated census tract
• As low as 3% down payment options available
• Flexible income limitations
• Purchase or refinance

Modify to a permanent secondary market fixed rate mortgage at the current market rate
Or, remain as a 7-year balloon product – loan must be paid off or refinanced at the end of the 7-year term
This product is an excellent option for those looking to build their dream home.

Program Highlights:

• One-Time Close Construction to Permanent loan with option to roll to permanent 7-year balloon OR modify to secondary market fixed rate mortgage at current market rate once construction is completed
• 90% Loan-To-Value up to conforming high balance loan limit on primary residence only
• 80% Loan-To-Value up to $1 million loan amount on primary and secondary residence
• 75% Loan-To-Value $1,000,001 to $1.25 million loan amount on primary residence only
• 70% Loan-To-Value $1,250,001 to $1.5 million loan amount on primary residence only
• Modification to secondary market fixed rate mortgage only applies on loan amounts up to conforming high balance loan limit
• Monthly mortgage insurance required on Loan-To-Value over 80%
• Interest-only payments during construction
• VA and NC homes only

* C&F 7-Year Balloon: This program is a 30-year amortized permanent mortgage with a 7-year balloon. This allows the monthly payment to be lower than a 30-year fixed rate throughout the term of the loan and then the remaining balance is due and payable at the end of the 7-year term (known as a balloon payment). This program is based on a 20% down payment with an initial period of 7 years amortized for 30 years. Refinance options may be available for this remaining balance.

Program Highlights:

• Low construction rate and loan fees
• Interest-only payments during construction
• Up to 90% financing available (loan amount restrictions apply)
• No mortgage insurance required during the construction phase
• Jumbo, rehab and second home options available
• Use your current land as equity for down payment
• Lot loans up to 70% loan-to-value with multiple term options and competitive rates

• As low as 3% down payment if first-time homebuyer
• As low as 5% down payment if not first-time homebuyer
• Ideal for borrowers with stronger credit history

Program Highlights:

• As low as 3% down payment
• Lower mortgage insurance (MI) options
• Flexible down payment sources
• Comprehensive homeownership education
• Income limits vary by location

Program Highlights:

• As low as 3% down payment

Program Highlights:

• As low as 3.5% down payment
• Purchase and refinance options available
• More credit flexibility
• Monetary gifts from family accepted toward down payment, closing costs, discount points, and other prepaid expenses allowed
• Good Neighbor Next Door Program (GNND) allowed (only available on FHA REO properties)

Program Highlights:

• Up to $20,000 in grant funds
• No first-time buyer requirement
• Available for qualified current or retired law enforcement officers, educators, healthcare workers, firefighters, other first responders, veterans and active-duty military, or their surviving spouse who are purchasing a home
• Income limits apply
• Must contribute at least $1,000 toward the purchase of the home
• Must occupy the home as the primary residence for at least five years
• Complete a homebuyer education and financial literacy course specified by the FHLBank Atlanta
• All funds available on a first come first serve basis
• Properties in certain counties in Virginia, Maryland and North Carolina

Program Highlights:

• Up to $15,000 in grant funds
• First-time and non-first-time homebuyers buying a primary residence
• Income limits between 80.01% up to 120% of area median income (AMI)
• Income cannot be under 80% AMI
• $1,000 minimum contribution with a maximum of $250 cash back at closing
• Counseling required

Program Highlights:

• Up to $17,500 in grant funds

Contact us to learn more about our specific Jumbo options.
Program Highlights:

• Loans up to $3 million on primary residences
• Loans up to $2 million on second homes
• Financing on 1-unit investment properties
• 90% LTV on loans up to $900k (mortgage insurance required; 1-unit primary only)
• 89.9% LTV - no MI required on loans up to $1 million (1-unit primary only)
• Financing on condos available
• Cash-out refinances and ARMs available

Program Options Include:

• Bank Statement Options
• ITIN Options
• Platinum Jumbo Options
• 1099 Options
• DSCR Options
• Non-Warrantable Condos
• And more, call us to learn more

Program Highlights:

• Up to $15,000 in down payment assistance
• Must be a first-time home buyer (haven't owned a home as principal residence in the past three years) or a military veteran or are buying in a targeted census tract
• Must meet the income and sales price limits
• Purchases in North Carolina

Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15 – the down payment assistance is forgiven at 20% per year at the end of years 11–15, with complete forgiveness at the end of year 15.

Program Highlights:

• Down payment assistance up to 3% of the loan amount
• Opportunity to add the NC 1st Home Advantage Down Payment, a $15,000 down payment assistance option
• Income cannot exceed $140,000
• Purchases in North Carolina
• Must qualify for FHA, USDA, VA or conventional loan and meet the sales price limits of the loan type

Program Highlights:

• Purchase or refinance
• Primary, second home or investment property
• Requires as little as 5% down on primary residences and 10% down on second homes and investment properties

Program Highlights:

• Used for remodeling and repairs
• Purchase or refinance
• Primary residence only
• Loan amount based on the lesser of as-completed value of the home or sales price, plus the total cost of renovation
• Requires only 3.5% down payment
• Allows monetary gifts from family
• Minimum renovation of $5,000 for Standard (Maximum based on project specifications)
• Maximum renovation of $75,000 for Limited (No minimum)

Program Highlights:

• Purchase or refinance
• Primary residence only
• Up to $50,000 in repairs

Program Highlights:

• Up to 100% financing
• No cash reserves requirements
• Closing costs can be financed if certain requirements are met
• More credit flexibility
• No first-time homebuyer requirement
• Property must be primary residence
• Income and credit restrictions apply
• Limited to "rural" areas as designated by USDA

Program Highlights:

• Up to 100% financing (purchase only)
• More credit flexibility
• No monthly mortgage insurance
• No first-time homebuyer requirement
• Gift funds acceptable for closing costs
• A variety of terms or loan types available
• Purchase or refinance

Program Highlights:

• Could eliminate funds needed for closing
• No repayment required
• First-time buyer required

Program Highlights:

• As low as 3% down payment required
• Affordable monthly payment
• Helps existing homebuyers “move up”
• As low as 1% down with Virginia Housing DPA Grant
• Could help to reduce existing mortgage payment
• Available for first-time and repeat buyers
• Eligible for Virginia Housing’s Down Payment Assistance grant (DPA) (restrictions apply)
• Available for limited cash-out transactions as well as purchases
• Eligible for Virginia Housing’s Plus Second Mortgage.

Program Highlights:

• Receive up to 2.5% of the purchase price for FHA loans or 2% for Fannie Mae
• Borrower must contribute at least 1% of the sales price (money can come from a gift)
• Can be used with Virginia Housing Fannie Mae & Virginia Housing FHA
• No repayment required
• Cannot be combined with VA, USDA, Plus Loans, Virginia Housing Conventional bond or other down payment assistance programs
• Must meet income limits

Program Highlights:

• FHA insured
• As low as 3.5% down payment
• Liberal credit qualifying
• As low as 1% down with Virginia Housing DPA Grant
• Eligible for Virginia Housing’s Down Payment Assistance grant (DPA) (restrictions apply)
• Eligible for Virginia Housing’s Plus Second Mortgage

Program Highlights:

• 2% reduction to the interest rate published by Virginia Housing
• First generation homebuyer*
• The first mortgage must be one of Virginia Housing’s bond programs (Conventional Bond, FHA Bond, VA Bond or RHS Bond)
• Various down payment assistance options are available, including Virginia Housing's Plus Second Mortgage, Down Payment Assistance Grant, Closing Cost Assistance Grant as well as outside assistance, subject to program guidelines

*All borrowers have never owned a home (primary, secondary, investment), even if purchasing in a targeted area. The borrower's spouse, whether or not they are a borrower, has never owned a home, including primary, secondary, or investment, excluding ownership of heirs' property as defined. All borrowers' parents and/or legal guardians have not owned a home in the last 3 years, including primary, secondary, and investment excluding ownership of heirs' property as defined.

Program Highlights:

• Eliminates funds needed for a down payment
• Helps to keep total mortgage payment affordable
• Could eliminate funds needed at closing
• Increases homeownership for first-time and specific repeat buyers
• Higher income limits assist buyers who don’t qualify for grant funds

Program Highlights:

• USDA guaranteed
• As low as 0% down payment
• Low mortgage insurance
• Eligible for Virginia Housing’s Closing Cost Assistance (CCA) grant

Program Highlights:

• VA guaranteed
• As low as 0% down payment
• Liberal credit qualifying
• Eligible for Virginia Housing’s Closing Cost Assistance (CCA) grant