Program Features
- Primary residences can be purchased or refinanced
- Personal funds, grants, gifts from family, or government assistance can all be used to make down payments²
- For purchase transaction lender credit can be applied to closing costs, down payment, and prepaid for purchase transactions³
Program Requirements
- Applicants are subject to income restrictions⁴
- There must be a primary residence within our designated lending area⁵
- Central Trust Bank-approved homebuyer education sessions are required⁶
Home Turf Loan
In addition to many of the same features as the Home Turf Assistance program, the Home Turf Loan Program offers a number of additional options for purchase or refinancing, such as:
- Fixed 15, 20, or 30 year terms
- No Private Mortgage Insurance (PMI) required
- Minimum down payment of 3%. Lesser down payment options are available based on credit score and debt to income ratio.
For more information about the program, contact Emerald. Low to moderate income census tracts within the indicated lending areas are eligible for the Home Turf Loan.
Home Turf Home Improvement Loan
With our Home Turf Home Improvement Loan, you can enhance your home in a number of ways, including HVAC, roof, flooring, bathroom/kitchen renovations, and siding. The program includes the following features:
- No bank fees to those income qualified
- No Private Mortgage Insurance (PMI) required
- Low interest rates
- Fixed and adjustable rates available
For more information about the program, contact your local lender.
¹Funds are only available to be used for Bank Central mortgages. Funds are available for a limited time. ²Required down payment amount will vary based on loan program selected. ³Lender Credit applied to closing costs only for refinanced transactions. ⁴Income is limited to 80% of FFIEC MSA median family income. ⁵Dwelling must be owner-occupied. Product is only available in specific geographies. ⁶Homebuyer education is only required on purchases. Applicant subject to credit and underwriting approval. Underwriting restrictions may apply. Information is subject to change. See loan officer for details.