Cadence Bank Affordable Home Loan Program

[Joseph Anderson]

Anyone have experience with Cadence bank? More specifically they’re Affordable Home Loan Program?

They advertise:

A low down payment

Competitive, fixed rate - 3.875%

NO origination fee -- typically 1% of the loan amount

No mortgage insurance requirement

Up to 100% of loan-to-value

The catch is the home has to be in a low to moderate income area. However, in Houston there are plenty of options. Can be used on single family and duplex.

https://www.policymap.com/embedmap_dyn?lqid=59216

Looks to be a pretty good offering. Wanted to share and get peoples thoughts on it. Is anyone seeing similar offers from other banks?

https://cadencebank.com/personal/mortgages/afforda...