The Community Reinvestment Act (CRA) was designed to assist borrowers who purchase homes in areas where household incomes are predominantly low and moderate. In addition, the guidelines for these loans - such as lower down payments, no mortgage insurance, allowable grant programs and gifts from family and friends - make it easier for borrowers to qualify.
DOWN PAYMENT DETAILS
3% down, 1-unit
5% down, 2-unit
No PMI, 660 minimum credit score
1-4 units, single family homes, condos & PUDs.* (No Rate Adjustments for Multi-Family)
Properties in low/moderate income census tracts*
Seller concessions, down payment assistance, & gifts
Do You Qualify For Our CRA Program?Qualification varies by scenario. Reach out to your Greenway loan officer today to find out. Max DTI 45%, other income restrictions apply. Additional guideline limitations and restrictions apply.
*Condos & PUDS must be Fannie or Freddie approved. Income limits apply for properties outside low/moderate income areas.