OEHB Mortgage Programs

OEHB has hand-selected a group of mortgage lenders to develop special financing programs for educators

A short description of our most popular programs follows:

OEHB 103%

This is a 100% financing program with no down payment required.  Up to 3% of your closing costs can be financed with the loan.  Because this program is designed to work within the educators salary range, many educators have been able to buy their first home with this loan product.

OEHB Down payment Gift

This program is great for borrowers who have good credit and qualify for a loan but do not have a down payment.  Working with this program, the borrower pays no down payment. The down payment is a gift paid by the seller and the borrower is not required to pay it back. This program is not just for first time homebuyers, and works with both buyers and sellers.

OEHB No Income Verification

Income documentation is not required to qualify for this program.  The borrower is not required to disclose income information.  To qualify, borrowers must have two continuous years of employment with the same employer or be employed in a position in the same line of work for two years.

A minimum down payment between 5% to 10% of the sale price is required, depending on the borrower's credit score.  The seller can contribute up to 3% of the sales price towards the borrower's closing costs.

OEHB Rehab Program

This program is perfect for a borrower to purchase a home and finance the repairs or remodeling of such items as roof replacement or interior updating into the loan.

This 95% loan is based on the future "after-improved" value of the property; as if the work were already completed.  Work is started after the loan is closed.  You will need 5% of the "end value" for a minimum down payment.  The seller can pay up to 3% of the sales price towards the borrower's closing costs.

Other Finance Programs

In addition to the programs mentioned above, we also offer programs designed to meet the needs of virtually any borrower, at competitive rates - from fixed rate mortgages and ARMs, to jumbos, FHA/VA loans, refinancing, construction financing and more.  In addition, we provide financing for people with imperfect credit or other unique circumstances.