'Flex 100' Home Loan Plan For Those Without Down Payment
The $2.7-billion CEFCU has rolled out an affordable program for home buyers that it is calling the "Flex 100 Home Loan Program."
The program allows the home buyer to finance 100% of the purchase price, offers a fixed payment for the term of the loan, with adjustable rates available for a potentially lower initial rate. Closing costs can be paid from the buyer's own funds or from other flexible sources including gifts and grants.
"The Flex 100 Home Loan Program is a great option for first-time home buyers," said Sara Payne, CEFCU's first mortgage operations manager. "It makes home ownership possible for many families without the burden of acquiring a large down payment. CEFCU is proud to add this program to all of the other affordable CEFCU mortgage products. We look forward to helping more members realize their dream of home ownership."