MyCommunity Home Loan

Your Opportunity for Home Ownership

The MyCOMMUNITY Home Loan Program was developed to help assist individuals who may not qualify for traditional banking products but hope to own a home. The MyCOMMUNITY Home Loan Program offers special loan terms and qualifications to help you build and establish a record of payment, as well as other benefits to help you through the mortgage process.

Through innovative products, strategic partnerships and financial education, we strive to help everyone in our communities who dream of homeownership.

  • Lower down payment requirements
  • No mortgage insurance premiums
  • Do not need to be first-time homebuyer
  • No income limits if you buy in a low to moderate income area
  • The ability to use a Individual Tax Identification Number (I.T.I.N.)
  • Compatible with down payment assistance programs
  • Compatible with a gift from a family member
  • Seller may pay your closing costs
  • Flexible underwriting
To be eligible for this home loan program the following are required:
  • You must own and occupy the home you are financing.
  • The borrower and co-borrower must complete homebuyer education.
  • Total annual household income must be below 80% of the HUD income limits, or home must be in the low-to-moderate income communities
In general, the fees charged on this home loan will be very similar to and competitive with other options. To assist, Busey will give you a $300 credit to go towards closings costs and fees.

To apply for a MyCOMMUNITY Home Loan, speak with a Community Banking Officer.

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