Affordable Rate Program (ARP)
At 1st National Bank, we believe homeownership should be within reach for everyone. That’s why we’re offering the Affordable Rate Program (ARP) – a special mortgage option designed to help families in our community purchase or refinance their home with interest rates up to 2% below current market levels.
Affordable Rate Program Benefits
- Rates up to 2% lower than market
- Available for purchase or refinance
- Household income must be ≤80% of Area Median Income (AMI)
- Primary residence required (Second/Vacation homes not eligible)
- Can be combined with other affordable housing assistance programs
Affordable Rate Program Sample Rates¹
| Term | Rate | Principal & Interest Payment | APR |
| 30 Year | 4.50% | $1,323.72 | 5.045% |
| 10 Year | 4.00% | $1,942.43 | 4.675% |
¹Based on a purchase price of $275,00.00 with 5.00% down ($261,250.00 loan amount). Credit score of 720 or better. Private Mortgage Insurance (PMI) required with less than 20% down. Housing and total debt-to-income (DTI) ratios must not exceed 38/43. Taxes and insurance not included in payment shown above.
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*Program available for a limited time. All Loans must close and fund by 12/31/2025, or until program funds are exhausted, whichever comes first. Borrower(s) must have a household income at or below 80% of Area Median Income (AMI) to qualify. Primary residences only. Second homes and investment properties not eligible. All loans subject to credit approval and program guidelines. Not all borrowers qualify. Program rates subject to change at any time at the discretion of 1st National Bank and FHLB. Subsidy funds are limited and available on first-come, first-served basis. This is not a commitment to lend.
