Community Lending Program
Embark on the path to homeownership and save with our Community Lending Program! Whether you’re a first-time buyer or looking to move into your dream home, we’re here to make it possible.
What Is the Community
Lending Program?
The Community Lending Program provides a discounted rate or lender credit to homebuyers considering properties located in eligible areas. Participants can secure a competitive conventional loan with significant savings plus additional rate discounts depending on the loan scenario.
Community Lending
Guidelines
Program eligibility is based on property location.
Available to first-time and repeat buyers purchasing a home.
Utilize savings to lower your rate or closing costs.
Use the funds to obtain a temporary rate buydown.
Available for cash-out and rate & term refinances.
See How You Can Save With Our Community Lending Program
We ran a sample loan scenario based on an $850,000 condo purchase. The strategies below depict the different ways we can use this loan program to help you get into a home more affordably. Reach out to one of our experienced mortgage consultants who has the knowledge to show you what this program may look like for you and help you achieve your homebuying goals.
Strategy 1
Achieve a lower rate without paying any additional fees. In this example below, you save $624 per month!
| Standard Loan | Community Lending Loan | |
| Purchase Price | $850,000 | $850,000 |
| Loan Amount | $807,500 | $807,500 |
| Interest Rate | 8.125% | 7.000% |
| Discount Points | .423% or $3,416 | 0 |
| Principal and Interest Payment | $5,996 | $5,372 |
Strategy 2
Instead of taking the lowest rate, you can opt for a rate that will provide a credit to help cover your closing costs! In this example below, you are still saving $281 per month and getting a lender credit of $7,600 to reduce your loan closing costs.
| Standard Loan | Community Lending Loan | |
| Purchase Price | $850,000 | $850,000 |
| Loan Amount | $807,500 | $807,500 |
| Interest Rate | 8.125% | 7.625% |
| Discount Points | .423% or $3,416 | 0 |
| Principal and Interest Payment | $5,996 | $5,715 |
| Closing Cost Credit | 0 | $7,600 |
Strategy 3
Use the lender credit to fund a temporary interest rate buydown program! In this example below, the seller is providing a portion of the credit, and the remaining cost to fund the temporary buydown is provided through a lender credit made possible by this program. Not familiar with temporary interest rate buydowns? Click here to learn more.
| Years | Rate | Monthly Payment |
| 1 | 5.75% | $4,712 |
| 2 | 6.75% | $5,237 |
| 3-30 | 7.75% | $5,785 |
| Total Savings in Years 1-2: $19,452 |
Hi! I’m Leonard Briones
Branch Manager
NMLS# 288445
Serving AZ, CA, FL, ID & TN
Leonard has over 21 years of experience in the mortgage industry, guiding thousands of families on their journey to achieve and sustain homeownership. Throughout his career, he’s leveraged cutting-edge technology and tailored mortgage solutions to meet each client’s unique needs. His commitment has always been to deliver the best in innovation, expertise, and personalized care, ensuring every client feels supported in their pursuit of homeownership.
Mortgage Lending Simplified
Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.
