First-Time Homebuyer

First National Bank & Trust of Newtown, with locations throughout Bucks County, has great rates and knowledgeable mortgage officers to guide you along the way.Owning your own home may be a lot easier than you imagined thanks to our First-Time Homebuyer Program. With the First-Time Homebuyer Program from The First, qualified individuals and families with a limited income can purchase a home with as little as 5% down! You can speak with a mortgage specialist at The First any time by calling 215-860-9100 and asking for the Mortgage department.

Features and Eligibility Guidelines

Homeownership:	To be eligible, you must not have owned a home in the past three years
Maximum House Price:	$292,685
Minimum Down Payment:	5%
Maximum Term:	30 years
Interest Rates:	Call for more information
Maximum Income:	Number of Family Members	Eligible Income
	1	$62,692 or less
	2	$71,614 or less
	3 or more	$80,656 or less

Debt-to-Income Ratios:

The percentage of your monthly payments for the mortgage (including taxes and insurance) may not exceed 33% of your monthly gross (before tax) income. All monthly debt including mortgage related payments plus consumer debt payments (i.e., credit cards, car loans/leases, student loans, personal loans) may not exceed 38% of your monthly gross income.

Credit Counseling Center:

Because buying a home is one of the most important decisions you will ever make, The First requires all First-Time Homebuyer Program applicants to attend a credit counseling program. The program is conducted by the Credit Counseling Center located in Richboro, PA and is designed to make you a more informed consumer so that you are better prepared to handle the financial responsibility of owning a home. For more information, call the Credit Counseling Center at 215-396-1880.

Private Mortgage Insurance:

Private Mortgage Insurance (PMI) enables The First to lower its down payment requirement. By including PMI premium in the monthly mortgage payment, you can buy your home with a very low down payment!

Am I Eligible?

Answer these simple questions!

1. If you owned a home in the past three years, you are not eligible.

2. Is the purchase price of the home $292,685 or less?

3. Is the purchase in Bucks County or do you work in Bucks County?

4. Does your family annual income fall within the following guidelines?

• One family member with an income of $62,692 or less
• Two family members with an income of $71,614 or less
• Three or more family members with an income of $80,656 or less

If you answered Yes to all of the above questions:
Congratulations! You are eligible for the First-Time Homebuyer Program.

Your next step should be to contact The First's Mortgage department and we will make an appointment for you to apply. You can e-mail us at mortgage@fnbn.com or call us at 215-860-9100 and ask for the Mortgage department.

If you answered No to any of the above questions, we are sorry, but you are not eligible for the First-Time Home Buyer Program. You may, however, qualify for one of The First's other attractive mortgage programs; call 215-860-9100 to find out

What Should I Bring with Me When I Apply?

Although each application may differ slightly, it will speed up your application process if you bring the following items with you when you apply:

• Copy of the real estate agreement of sale signed by both the buyer and seller.
• Income verification for the past three years (ie. IRS 1040 forms) and a recent paystub. If you own your own business, please bring your complete personal and corporate tax returns for the three most recent years.
• Information for all credit cards and installment debt including the creditors' names and your account numbers, current balances and monthly payments.
• Past two bank statements from an outside financial institution.

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