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Home Possible Mortgage Loan

The Home Possible Mortgage Loan from First Bank of Berne is a smart, affordable solution to make owning a home easy. With our low-down payment requirement—just 3%, this loan offers a 97% loan-to-value ratio, making it an ideal option for borrowers who may not have significant savings. The Home Possible Mortgage Loan is good for a range of buyers, including first-time homebuyers, move-up borrowers, and retirees. It features a fixed-rate mortgage loan with various repayment terms to meet different financial needs.

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Home Possible Mortgage Loan Benefits

As low as a 3% down payment.
Fixed-rate mortgage options.
Multiple term options available.
Reduced mortgage insurance coverage levels for loan-to-value ratios greater than 90 percent.

Key Features

One-unit properties eligible (Manufactured homes are ineligible).
No reserves required for 1-unit properties.
All borrowers must occupy the property as their primary residence.
Income eligibility up to 100% of area median income (AMI), higher in high-cost areas, and no limit in underserved areas.
Eligible funds for down payment and closing costs, such as gifted funds, are allowed.

Competitive Rates

Low Down Payment

Variable Terms

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Financial Calculators

Use our calculators to easily assess and plan for your future goals.

See our full list of Financial Calculators to reach your financial goals.