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Mycommunity Home Loan

TheBANK of Edwardsville developed the MyCOMMUNITY Home Loan Program to help assist individuals who may not qualify for traditional banking products but hope to own a home. The MyCOMMUNITY Home Loan Program offers special loan terms and qualifications to help you build and establish a record of payment, as well as other benefits to help you through the mortgage process.

Through innovative products, strategic partnerships and financial education, TheBANK of Edwardsville is striving to help everyone in our communities who dreams of homeownership.

Benefits of a MyCOMMUNITY Home Loan

  • Lower down payment requirements
  • Lower minimum credit score requirements
  • No mortgage insurance premiums
  • Do not need to be first-time homebuyer
  • No income limits if you buy in a low to moderate income area
  • The ability to use a Individual Tax Identification Number (I.T.I.N.)
  • Compatible with down payment assistance programs
  • Compatible with a gift from a family member
  • Seller may pay your closing costs
  • Flexible underwriting

Eligibility for a MyCOMMUNITY Home Loan Program

To be eligible for this home loan program the following are required:

  • You must own and occupy the home you are financing.
  • The borrower and co-borrower must complete homebuyer education.
  • Total annual household income must be below 80% of the HUD income limits, or home must be in the low-to-moderate income communities.

MyCOMMUNITY Home Loan Fees

In general, the loan fees charged on this home loan will be very similar to and competitive with other options. To assist, TheBANK will give you a $500 credit to go towards closings costs and fees. Speak with the Community Reinvestment Act Loan Officer at TheBANK to apply for the MyCOMMUNITY Home Loan Program.

For more information contact:

Madison County St. Clair County St. Louis City and County
Sandy Smith
CRA Residential Lender
Phone: 618-606-0632
sesmith@4thebank.com
NMLS# 616465
Jacinta Stubbs-Smith
CRA Residential Lender
Phone - 618.257.3239
jstubbs-Smith@4thebank.com
NMLS ID: 414073

Deonte Cannon
CRA Residential Lender
Phone - 636.352.6755
dcannon@4thebank.com
NMLS ID: 611061

Marc Laidley
CRA Residential Lender
Phone - 314.960.9967
mlaidley@4thebank.com
NMLS ID: 1511203