City National Ladder UpSM
Home Loan Program
City National Ladder UpSM
Start Your Homeownership Journey
“Our goal is to expand the mortgage lending business by serving historically underserved borrowers through outreach, education, great programs, and excellent service.”
Dr. Vanessa Montañez
Community Lending National Manager
City National Bank
Our dedicated team of community lending mortgage bankers will work closely with you on your homebuying journey.
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1. Down Payment Requirements: A minimum 3% down payment applies only if the property has one unit and all borrowers live in the property. A minimum 5% down payment is required if the loan has a borrower who does not live in the property. A minimum 15% down payment is required for all two-unit properties. Repayment Terms Example: A loan with a 3% down payment, $400,000 loan amount, and an APR of 8.00% (rate is a sample only) will have a monthly principal and interest payment of $2,897 for 360 months. This monthly payment does not include homeowner’s insurance or property taxes. Actual payment obligations will be greater.
2. If receiving a grant, you may not receive cash back at closing. Lender grant is available only on closed transactions when all conditions have been met. Borrowers may receive only one grant under the Program every 36 months. This grant is non-transferrable, cannot be applied retroactively, and may not be redeemed for cash. Additional terms and conditions apply. This is not a loan approval or a commitment to lend. Depending on your tax situation, the grant may be taxable income to you. If taxable, City National will send the appropriate tax reporting form. City National does not give tax advice. You should consult with a tax advisor on the potential effects of this Program on your taxes.
3. Monthly Maintenance Fee is waived for an account owner who has received final approval of a Ladder Up Home Loan Program mortgage. Available to individuals, sole and joint owners. Limit one Personal Checking Account with waived Monthly Maintenance Fee per approved borrower. Ladder Up Home Loan Program available in qualifying majority-minority census tracts.
4. The Ladder Up Home Loan Program follows the loan limits published by the Federal Housing Finance Agency (FHFA), and these limits vary by location.
All loans and lines of credit are subject to credit and property review and approval. Loans must be secured by a first lien on a one- to two-family residential dwelling. Additional terms and conditions apply. Not all applicants will qualify. All stated rates, program terms and discounts are subject to change without notice.