This is a type of home loan program offered by First Republic for Individuals under the name Eagle Community Loan Program. To avail of the home loan, applicants need to submit the application form to a First Republic Relationship Manager.
It is designed to provide loans to individuals to achieve their goals. It can be done at any First Republic Preferred Banking Office, by mail or online using their Lending Hub digital platform.
First Republic’s Eagle Community Loan Program is a unique loan program aimed at fostering economic growth and community development. So, Interested individuals may contact a First Republic Relationship Manager to request an appointment for a review.
In this article, we will go through this home loan program in detail and how it can help you turn your dreams into reality.
What is Eagle Community Loan Program?
The Eagle Community Loan Program is a type of home loan offered by First Republic to buy or refinance a primary residence in their designated areas. They offer competitive rates and are designed to help more individuals in communities become homeowners.
Who is eligible for the program?
The program welcomes individuals from all walks of life, whether you are a first-time entrepreneur, small business owner, lawyer or writer, you can apply for a loan through the program.
How does the Application process work?
The application process for the Eagle Community Loan Program is very simple. To get started, visit the official website of First Republic and contact a participating relationship manager. They will tell you the necessary documents. The requirements are generally less than for traditional loans, making it more accessible to a wider range of applicants.
What can the loan be used for?
First Republic’s Eagle Community Home Loans can be used to purchase or refinance a primary residence in their designated areas. Eagle Community Home Loans have competitive rates and are designed to help more individuals become homeowners in their communities.
What are the terms and interest rates?
Interest rates are based on a loan amount: If a loan amount of $1,000,000 and a down payment of 25%, and then an interest rate of 6.15%, with a corresponding APR of 6.20%, the borrower would be responsible for 360 payments over 30-year terms for $6,092.
What are the benefits of the Eagle Community Loan Program?
The Eagle Community Loan Program offers a number of benefits to borrowers, which are as follows:
- Dedicated Relationship Manager
- Personalized Service
- In-House Loan Processing
- Competitive Fixed Rates
- Waived Nonrecurring Closing Costs
Note: Waived Nonrecurring Closing Costs- Some non-recurring closing costs are not covered and it is not guaranteed that you will receive the full $7,000 fee waiver. You will be responsible for certain associated closing costs. Please contact a First Republic Relationship Manager to learn which non-recurring closing costs are covered. One-time fee waiver, up to $7,000 per property address.
Important Links:
| First Republic | Check here |
| Contact details | Check here |
| Home page | Check here |
Source: https://www.firstrepublic.com
Conclusion
The Eagle Community Loan Program is a type of home loan for individuals looking to become homeowners. If you need to buy or refinance a primary home, this would be the best option. Also, it can be a good idea for homeowners who want to lower their monthly payments by getting a loan at a lower interest rate.
