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Mortgage Products

Some people like choices, others don't want to be overwhelmed with too many options. At Bank Five Nine, we work with you to help find the product that will best suit your personal situation. In addition to several grant programs that may be able to assist you with your lending needs, we offer FHA, WHEDA, VA, and MPFXtra 3D loan products. Let me walk you through these...

FHA

FHA stands for Federal Housing Administration. They are a popular choice because they offer:

  • Reduced credit qualifying requirements
  • Affordable down payment and closing cost options
  • Competitive rates and terms
  • More options than a typical mortgage product
WHEDA

WHEDA is the Wisconsin Housing and Economic Development Authority. A WHEDA Advantage Program loan has some of the same features as an FHA, also making it a popular option. These offerings include:

  • Low down payment options and down payment assistance
  • Low cost, 30 year fixed interest rates
  • Higher income and loan limits
  • Competitive rates
  • Low closing costs
MPF Xtra 3D*

The MPF Xtra 3D provides assistance for credit worthy borrowers with a modest income. It helps minimize the hurdles of home ownership by:

  • Providing 3% of the loan amount as down payment assistance
  • Reducing your monthly mortgage payment by eliminating mortgage insurance
  • Reducing closing costs
  • Offering loan-to-value ratios up to 97%
  • Offering HomeReady® purchase transactions for first-time home buyers
VA**

This program is for those who have served with the US Military and includes:

  • Expanded qualifying requirements
  • Flexible credit
  • No down payment options
  • Flexible underwriting
  • Competitive rates and terms

Bank Five Nine offers additional benefits to those who are approved for a VA home loan. 

Bank Five Nine Veteran Benefits

 

For more information on any of the products we offer, or available grant programs, contact your dedicated lender, Carlos Sanchez, today.

Contact Carlos Sanchez

Mortage products are subject to change and availability. All products are subject to credit score requirements, property type, appraisal requirements, and other considerations. *Owner occupied, 1-unit, fixed rate only. Maximum $150,000 loan size. Minimum 80% loan-to-value ratio. Household income must be at or below 80% of the HUD Area Median Income (AMI) limits for household size. Certain limitations exist for use of deposit payment assistance funds. **VA loan requires a veteran (or unmarried surviving spouse of an eligible veteran) with eligible entitlement.