What is a Heritage Loan?

The Heritage Home Program℠ Loan is a low-interest fixed-rate home equity loan for homeowners to affordably maintain and improve their older houses. The low interest loan product is financed through Key Bank and Third Federal Savings & Loan with fixed-interest rates available as low as 1.4%.

What is US mortgage?

A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you’ve borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.

Are overtime and commission income Acceptable forms of income Heritage Bank?

Overtime and commission income is an acceptable form of income.

What is the first heritage?

First Heritage became a community chartered credit union in December 2001, with the ability to serve all people who live, work, worship, attend school or maintain a business or other legal entity in Chemung or Steuben Counties, New York and Tioga County, Pennsylvania, as well as their immediate family members*.

Can you get scammed by mortgage broker?

Mortgage fraud is typically carried out for profit or for housing. Mortgage scams for profit: Those who attempt mortgage fraud for financial gain are typically lenders, brokers and other entities that make false claims in order to obtain monetary compensation or equity from lenders and homeowners.

What is the interest rate on a heritage home loan?

The Heritage Home Program℠ Loan is a low-interest fixed-rate home equity loan for homeowners to affordably maintain and improve their older houses. The low interest loan product is financed through Key Bank and Third Federal Savings & Loan with fixed-interest rates available as low as 1.4%.

How to apply for a heritage home loan?

Once the Heritage Home Program has approved your application, you are ready to start the financial pre-approval process with a loan officer at a participating bank. The homeowner must meet the bank’s lending requirements. You may visit or call the bank branch to speak with a relationship manager about these requirements.

What can Heritage Home program do for You?

The Heritage Home Program℠ is ready to help you with free technical assistance for your home repair, maintenance, and rehab needs and access to loan rates that are more affordable than ever before! Ask our qualified technical staff your questions about home rehabilitation and improvement.

Can a heritage home loan be a second lien?

The Heritage Home Program Loan can be a first or second lien (mortgage) on the property, but it cannot be the third. Does your project qualify? Additions are subject to a review process to ensure that they are compatible with the home.