Experience with Cadence Affordable Home Loan

[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. Anyone seeing similar offerings from other banks?

https://cadencebank.com/personal/mortgages/affordable-home-loan-program