Longview Community Bank works with you for a better mortgage experience with personal service and competitive rates.
Meet our Mortgage Team
Longview Community Bank NMLS #408034
If you have less than a 20% down payment, Longview Community Bank offers loan programs just for you.
Downpayment Plus (DPP®) Grant
- Up to $10,000 per qualifying household
- Must contribute at least $1,000 from borrower’s own personal funds
- Income limits apply per county HUD guidelines
- Available to first-time buyers and repeat buyers
FHA (Federal Housing Administration) Program
- 3.5% down payment (may be gift funds, your own funds, or acceptable secondary financing source)
- No minimum loan amount
- Maximum loan amount for most Illinois counties: $472,030 (higher limits available for some northern counties)
- Available to first-time buyers and repeat buyers
Rural Development Program (USDA Loan)
- No down payment required
- Qualified borrowers may receive a loan equal to 100% of the property’s appraised value, not purchase price, plus the upfront guarantee fee
- Available to first-time buyers and repeat buyers
- Property must be in an eligible rural area
- Additional program terms, fees, and restrictions may apply
VA (Veterans Assistance) Program
VA Loan can be used for 1-4 unit properties, including condos and detached Planned Unit Developments (PUDs), provided the Veteran borrower occupies one unit. Terms are for 20- and 30-year fixed-rate first mortgages.
- Minimum credit score is 640
- Maximum total debt ratio 50%
- Maximum total loan to value (TLTV) 105%, including financed funding fee Funding fee is required; can be included in loan amount provided the loan amount does not exceed the VA county loan limits.
- Funding fee amount varies based upon the type of Veteran, type of loan transaction, and whether the Veteran has previously used their entitlement.
- Must escrow for homeowners insurance, real estate taxes, and flood (if applicable)
- Other eligibility requirements may apply; ask your loan officer for details.
Contact Longview Community Bank to speak with a loan officer today to start your mortgage application or for more information about our mortgage loan programs.
