Affordable Mortgage Program

If buying a home feels out of reach, let’s team up on an Affordable Mortgage.

Our Affordable Mortgage Program (AMP) can help you buy or refinance a home by offering ways to reduce your down payment, closing costs and more. If you’re buying a house that needs work, you may be able to combine our AMP loan with the HomeFresh Second Mortgage that provides financing for property improvements.

With a Banner Bank home loan, you'll get:

How the Affordable Mortgage works:

  • The Affordable Mortgage Program (AMP) is a fixed-rate loan for owner-occupied, single-family residences including manufactured homes and condominiums.
  • Borrow up to 97% of the home’s value to refinance the home. 
  • Borrow up to 99% of the home’s value toward its purchase.
  • Seller may contribute a portion of the purchase price toward closing costs. 

How the HomeFresh Second Mortgage works: 

  • Combine with our Affordable Mortgage home loan to obtain total financing up to 105% of the home’s value. 
  • Borrow up to $50,000 or 10% of the home’s value, whichever is less, for property improvements. 
  • Apply gifts or down-payment assistance, with some limits. 

To qualify, the borrower must: 

  • Contribute at least $500, which may come from a gift, grant or down-payment-assistance program.
  • Earn no more than 80% of the area median income, or must use the loan to buy a home within a designated low-to-moderate-income area. 
  • Specific requirements, including mortgage insurance, may apply.
I want to buy a home, part 1 
In this blog, we share four important steps you should take before starting your home buying journey.
I want to buy a home, part 2
You're ready to buy a home, but now what? In part two of our home buying blog series, we share five tips to make your home search, selection and purchase a positive experience.
How much home can I afford?
Looking to buy a home? It's good to know what you can afford before you start shopping. Use this calculator to see how much your monthly mortgage payments will be.

Ready to own your dream home? Visit our online mortgage application center.