Portfolio Loans

Portfolio Loans

The community development loan, Fidelity Community Development Initiative (FCDI), provides affordable financing to those applicants that do not qualify for traditional financing programs.  

Before an applicant may be considered for a community development loan, the applicant must first be considered and not qualify for any other traditional loan program whether portfolio or seconday market.

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Portfolio Community Development Loan 

• 580 credit score minimum
• Maximum 95% Loan to Value¹
• Homebuyer class by HUD approved agency²
• Property must be located in program target area and income limits apply³
• Gift funds allowed for portion of down payment
• NO Private Mortgage Insurance
• NO prepayment penalties
• $500 Lender Credit*
• Loan will be serviced by Fideltiy Bank, a community bank that is HERE FOR GOOD.

*Lender Credit offer valid at time of application on applications submitted. Offer not valid with any other offer or discount. Lender credit will be applied at time of closing. Offer may be redeemed at any NOLA Lending office location. Cannot be copied or altered. This coupon has no cash value. Lender Credit is for the FCDI loan only. 

¹ Financing cannot exceel 95% of the subject property's fair market value, plus allowable excess costs. Consult your tax advisor regarding deductibility of interest. ² Homeowner education is required via an approved HUD counselor/vendor to qualify for this loan, additional fees may apply. ³ Property must be located in the program's targeted area and the applicant's income must be 80% or less than the HUD median income for the area. The property must be located in a low, moderate, or majority minority census tract.

Adjustable Rate Mortgage (ARM) 

Adjustable rate mortgage (ARM) fluctute in relation to the rate of a standard financial index.

• Your interest rate and monthly principal and interest payments remain the same for an initial period and then adjust annually
• Interest rate caps can be set to limit how high your rate will go
• This type of loan will typically have a lower interest rate than a fixed-rate mortgage

Adjustable Rate Mortgage Programs

7/1 ARM

5/1 ARM

3/1 ARM

Consult you tax advisor regarding deductibility of interest. Information stated above is subject to change without notice. All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend or offer an extension of credit. Other restrictions may apply. The services and products advertised are not approved or endorsed by HUD, USDA, the Department of Veterans Affairs, or any government agency. Information stated above is subject to change without notice. All loans are subject to credit approval. Not all applicants will qualify for all products offered. All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.

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If you are looking for a loan officer to help you through the process, click the Find a Loan Officer button.

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Skip to the pre-qualification application

If you're ready to submit your application, click the Fill Out a Pre-Qualification Application button and jump right in.

Fill Out a Pre-Qualification Application

LENDING IN ALL STATES EXCEPT: KANSAS, MARYLAND, NEW JERSEY, AND NEW YORK

Information stated above is subject to change without notice.  All applications are subject to underwriting guidelines and approval.  This does not constitute an offer to lend or offer an extension of credit.  All loans are subject to credit approval.  Not all applicants will qualify for all products offered.  All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.