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Local Real Estate

OlyFed Affordable Loan Program

In recent months, interest rates have been raised by the Federal Reserve to tame inflation by cooling down spending. Couple these higher interest rates with rising home prices and lower inventory overall and the stage is set for a difficult home-buying experience for anyone. But this difficulty will be especially tough for first-time homebuyers or low-income homebuyers.

Jar of change for saving for a new home

OlyFed wants to help. With a mutual bank structure, it uses its growth and profits to better its surrounding community.One of their biggest priorities is helping local people become homeowners. Through two new programs, OlyFed is helping local people overcome the challenges of a difficult buying market.

According to Ryan Betz, OlyFed VP of Marketing and PR, “We recently made the decision to lower interest rates for our First-Time Homebuyer Program. In fact, the interest rates for our First-Time Buyer program are a full point below our conventional mortgage rates to help more people qualify for a home purchase.”

In addition, OlyFed provides an Affordable Home Loan Program for households earning 80% or less of the median income in Thurston ($72,160) and Mason County ($53,840). This program currently offers an interest rate well below 3%, reduced PMI premiums, and a small down payment with all but $1,000 allowed to come from assistance programs.

At OlyFed, you’re more than the balance of your bank account. By mixing amazing customer service, trusted lending solutions and competitive savings rates with 21st-century digital and mobile banking technology, OlyFed serves up a one-of-a-kind, values-driven approach to local banking. Accountable to their depositors and borrowers, not shareholders, OlyFed puts people above the bottom line.

Banking that is Mutual . . . OlyFed.

3 Affordable Home Loans Contact A Loan Officer to Review Your Options

Loan team at Olympia Federal Savings in Olympia, WA