Special homeownership mortgage programs
Webster Five offers several unique money-saving mortgage loan programs for veterans and individuals or families with low to moderate incomes.
Home equity plus and mortgage combo
With a Home Equity Plus loan or line of credit in conjunction with a Webster Five mortgage, you can refinance up to 95% of your current home equity or borrow up to 95% to purchase a home. This solution is ideal for properties that don’t meet the down payment requirements of a standard mortgage or as an alternative to Private Mortgage Insurance (PMI). It’s simple, easy and flexible.
Mortgages issued by federally qualified lenders and insured by the Federal Housing Administration (FHA), FHA loans are designed for borrowers who would like to put as little as 3.5% down toward a new home.
Veteran’s administration (VA) loan
A product offered to veterans who meet specific eligibility criteria. The program requires no down payment with flexible underwriting guidelines. Some closing costs are paid by the lender. No income limitations.