How does the process work?
It is usually easiest to gather the following information: (most recent 2 paystubs, last 2 years’ tax returns, information about your current monthly bills, your asset and your employer’s contact information. We will review your information and contact you to discuss products that may meet your needs. Applying has never been easier easier please follow this link HERE. to fill out an application. We look forward to working with you!
How much can I afford to pay for my home?
Generally speaking, your monthly payment should not be more than 1/4th (25%) of your monthly income. For a range of home prices based on your down payment and monthly budget try our handy Opportunities Mortgage Tools HERE.
How much money do I need?
Depending on the program you are eligible for, you may not be required to make a down payment. Ideally, it’s best to have at least 20% down, which may lower your monthly payment, interest rate and lower the total interest you’ll pay over the life of the loan.
What are your interest rates?
You may look at our current rates; however, rates are subject to change without notice. Your rate may be higher if you do not elect an automated payment or if your credit score is lower. Other restrictions and fees may apply. Our lending staff can discuss current rates and how to lock in your interest rate.
|Program||Maximum Term (Years)||Interest||APR|
|30 Year Fixed||30||4.125%||4.167%|
|20 Year Fixed||20||3.875%||3.932%|
|15 Year Fixed||15||3.250%||3.322%|
|10 Year Fixed||10||3.000%||3.104%|
|Manufactured Home on Owned Land 2000 and newer||20||5.990%||6.052%|
|Manufactured Home on Owned Land 2000 and newer||10||5.290%||5.399%|
|Manufactured Home in a Park 2000 and newer||10||8.500%||8.616%|
|Home Equity Loan||5||3.490%||3.546%|
|Home Equity Loan||10||4.250%||4.357%|
|Home Equity Loan||15||5.250%||5.326%|
How can I apply?
Applying has never been easier. Just click the “Apply Now” button below and start your application today. We look forward to working with you!
How do I contact you to discuss my specific needs?
You may call us at (800) 865-8328, Monday through Friday from 8:30am to 5pm or email us anytime at Mortgages@oppsvt.org