Affordable Home Loans

Loans are subject to credit and property approval, bank underwriting guidelines, and may not be available in all states. Other loan programs and pricing may be available. Certain conditions, terms, and restrictions may apply based on the loan program selected. The term of the loan may vary based upon program chosen. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required.

WHEDA: The WHEDA Fannie Mae Advantage is based on Affordable Advantage TM, a product developed by Fannie Mae exclusively for Housing Finance Agencies (HFAs) as part of an agreement between Fannie Mae and the National Council of State Housing agencies (NCSHA). Affordable Advantage is a trademark of Fannie Mae. Unauthorized use of this mark is prohibited. Some restructions apply. Income guidelines and purchase limits do apply. Subject to appraisal, one loan and one payment, amount added to the mortgage loan. Home buyer education may be required. Loans are subject to credit approval and underwriting guidelines.

Rural Housing - Johnson Bank will provide guidance on resources to obtain homeownership education. The Annual Percentage Rate is 7.908% effective 09.05.2023 for a period of 30 days. Rates and payments based on 100% Loan to Value. No minimum down payment required. A monthly payment on a 360 month fully amortized $726,200 mortgage loan at 7.00% is $6.65 per $1,000 borrowed. Payments include principal and interest. Actual payments/monthly expenses may be greater due to term selected, property taxes and required homeowner’s insurance. Required closing costs, including property appraisal, title insurance, and other fees range from $2,000 to $2,500.

Community Mortgage - Fixed Rate Borrower must qualify for and meet all program requirements. Must qualify for and close a new purchase with Johnson Bank. Income guidelines and purchase limits apply. Two months reserves required (gift funds allowed) once minimum borrower’s contribution is met. Johnson Bank will provide guidance on resources for home ownership education. The Annual Percentage Rate is 9.026% effective 09.05.2023 for a period of 30 days. Rates and payments based on 97% Loan to Value. Minimum down payment of 3% required. A monthly payment on a 360 month fully amortized $726,200 mortgage loan at 8.05% is $7.37 per $1,000 borrowed. Payments include principal and interest. Actual payments/monthly expenses may be greater due to term selected, property taxes and required homeowner’s insurance. Required closing costs, including property appraisal, title insurance and other fees range from $1,500 to $2,000. Private mortgage insurance required on loans with less than 20% down.

Community Mortgage - Variable Borrower must qualify for and meet all program requirements. Must qualify for and close a new purchase with Johnson Bank. Income guidelines and purchase limits apply. Two months reserves required (gift funds allowed) once minimum borrower’s contribution is met. Johnson Bank will provide guidance on resources for home ownership education. The Annual Percentage Rate is 8.202% effective 08.01.2023 for a period of 30 days. Rates and payments based on 97% Loan to Value. Minimum down payment of 3% required. The interest rate on these loans vary and may increase after consummation. The interest rate cannot increase or decrease more than 2%-5% (contingent on ARM term) at the first adjustment period; and not more than 1% at each subsequent adjustment period. Your interest rate cannot increase or decrease more than 5% over the term of the loan. The interest rate will be based on the 30-day average SOFR (the index) as published by the Federal Reserve Bank of New York, plus our margin rounded to the nearest one eighth of one percentage point (0.125%). The initial monthly payment on a 360-month fully amortized $726,200 mortgage loan at the initial rate of 7.00% is $6.65 per $1,000 borrowed. Payments include principal and interest. Actual payments/monthly expenses may be greater due to term selected, property taxes and required homeowner’s insurance. Required closing costs, including property appraisal, title insurance, and other fees range from $1,500 to $2,000. Private mortgage insurance required on loans with less than 20% down.