STAR Portfolio Loan Program
Designed to make owning a home an affordable reality
If qualifying for a standard mortgage has been a challenge for you, STAR could be the answer.
There are lots of loan programs for homebuyers. Still, we started our own to help make homebuying an affordable reality.
100% financing available1
0.125% rate discount2
No down payment for many borrowers
Our STAR (Steps Toward Achieving Results) Affordable Lending Program is designed to make owning a home an affordable reality for low-to-moderate income families. It’s ideal for first-time homebuyers or those who are still building the financial background that’s typically required for a traditional mortgage.
Program highlights:
- Get 100% financing1 with no down payment for those who qualify3
- Save with no mortgage insurance requirement
- Qualify with a minimum credit score of 620
- Make payments with auto pay from an Atlantic Union Bank deposit account and get a 0.125% interest rate discount
- Receive closing cost assistance through available grants if you qualify
Ready to connect with an expert?
Contact your Atlantic Union Bank Mortgage Loan Officer or follow the link below.
Want to calculate your monthly payment?
Use our Mortgage Loan Calculator
to see what you might pay monthly and an estimated payoff schedule. To see the advantages of contributing a little more to your monthly payments, check out our Mortgage Payoff Calculator
.
Disclosures
1100% financing available when paired with our Closing the Gap Program, which is a second lien on the property you're purchasing for a loan amount up to 3% of the purchase price. The interest rate and loan term will be equal to the terms of the first lien. An origination fee will be charged for the second lien.
2Eligibility requires you to fund your monthly payments with an Atlantic Union Bank deposit account.
3To qualify your household income must be less than, or equal to, 80% of the most recent year’s MSA median family county/city income limits posted by FFIEC, which is based on income from all applicants. You can also qualify if the home is located in a low-to-moderate income census tract. To determine the income limits in your area, or to locate a low-to-moderate census tract, refer to https://geomap.ffiec.gov/ffiecgeomap. Out-of-pocket contribution must be $500 or 1% of sales price, whichever is less, and calculated after gifts or grants are applied to down payment and closing cost requirements. Borrowers cannot have any prior bankruptcies, unpaid non-medical collections or judgments (past due accounts must be brought current). Qualify for 100% financing with a credit score of 660 or greater.
This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approvals. Terms, rates, data, programs, information and conditions are subject to change without notice. Specific program restrictions may apply, so please consult your dedicated Mortgage Loan Officer for complete details. Must be owner occupied primary residence purchase only. Maximum income limits apply. Maximum loan amount is the conforming limit in the county that you purchase in, and the minimum loan amount is $100,000. Not all loans or products are available in all states.
Payment example: on a $250,000 home with 100% financing using a 30-year fixed-rate STAR loan and our Closing the Gap second lien at 7%, the monthly payment would be $1613.36. The Annual Percentage Rate (APR) for the STAR loan would be 7.145%. The APR for the Closing the Gap loan would be 7.698%. This example does not include an escrow account for taxes and hazard insurance. Actual payment obligation will be greater if an escrow account is established.
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