Affordable Seconds program brings homeownership within reach

St. Louis Magazine highlighted our Affordable Seconds program in partnership with Carrollton Bank. This initiative makes the American dream of homeownership more attainable by helping buyers overcome down-payment barriers while saving money along the way.

The financing structure combines two loans – resulting in two monthly payments: A first mortgage repaid to an approved primary mortgage lender and a second mortgage to SLCCU. For many borrowers, the combined payments may be comparable to traditional mortgage payments that include PMI, while providing the opportunity to build equity more quickly.

By opening doors to homeownership, we’re creating opportunities for families from all walks of life to participate, build generational wealth and have a more inclusive path to financial stability.

Read the article: How low-income St. Louisans can build home equity faster—without a down payment | St. Louis Magazine