In Brief: Glenfed Loan Program Eyes 100% Financing

Glendale Federal Bank plans to offer a 30-year, fixed-rate or adjustable mortgage that can be used for a down payment.

The new loan will give low- and moderate-income borrowers a chance to finance up to 100% of a home's purchase price, the thrift said.

The mortgage, called an Advance Loan, is being tested in a pilot throughout California.

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