Get a $150 bonus with the Everyday Rewards+ Visa Card, plus earn up to 4X points on eligible purchases. Subject to credit approval. See offer page for details.
4X points on dining, take-out and food delivery
2X points at grocery stores, gas stations, and more
The homebuying process can often feel slippery and complicated. But with a
Popular Affordable Mortgage,1 we’ve made the path towards homeownership simple, clear, and approachable. Geared toward first-time homebuyers, a Popular Affordable Mortgage offers low down payment options at competitive rates to help fulfill your dream of homeownership.
Why choose a Popular Affordable Mortgage?
Explore key features that make Popular Affordable Mortgage a seamless option for first-time homebuyers.
Low down payment options
Get your first home for as low as 3% down with minimal upfront costs.
No private mortgage insurance (PMI) required
Hold on to your savings by avoiding insurance fees.
Competitive loan rates
Enjoy favorable rates that benefit your long-term goals.
Homeownership education
Receive invaluable homeownership education and housing counseling to better navigate the loan process.
Fewer barriers, more possibilities.
Ask a Home Lending Officer if you’re eligible for
grants or financial assistance to help lower the barrier to homeownership.
Homebuyer Dream Program® 2
Homebuyer Dream Plus Program® 2
HomeFirst Downpayment Assistance® 3
Loan Origination Fee Waiver - Special Purpose Credit Program4
Let's make a plan for your home.
Our home lending team is here to help you get started.
Is Popular Affordable Mortgage the right choice for you?
Check out the basic requirements for borrowers to see if you’re eligible for a Popular Affordable Mortgage.
Homebuyer profile
You must be a first-time homebuyer seeking a primary residence mortgage.
Income eligibility limit
Your income must be less than 80% of area median income (AMI) of your property location.
Homeownership education requirement
First-time homebuyers must complete an education course from a qualified provider.5
How it works.
Are you a first-time homebuyer? Get a mortgage with a few simple steps.
Get pre-qualified.
Prepare your financial documents and position your application for pre-qualification.
Make an offer.
Evaluate your budget, research comparable prices, and identify repairs before making an offer.
Set up a home inspection.
Determine the home’s physical condition before seeking a final appraisal.
Finalize and close.
Complete the underwriting process, confirm loan approval, and sign all relevant documents.
1All loans are subject to credit review and approval. Rates, program terms and conditions vary by state and are subject to change without notice. The Popular Affordable Mortgage is only available for the purchase of a primary residence property located within the Popular Bank assessment area. Income limits apply and a homebuyer education course is required. All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
2Borrowers must meet Federal Home Loan Bank Homebuyer Dream and/or Homebuyer Dream Plus eligibility and qualification requirements. Subject property must be in a Popular Bank defined assessment area. The household must meet the income guidelines set forth in the Homebuyer Dream guidelines with a total household income of 80% or below of the area median income for the county in which the home being purchased is located, adjusted for household size.
3The HomeFirst Down Payment Assistance Program details are available at NYC Department of Housing Preservation and Development website. Borrowers must meet HomeFirst eligibility and qualification requirements. Borrowers must be a first-time homebuyer and complete a homebuyer education course. Borrower income must be less than 80% of area median income (AMI) as determined by the U.S. Department of Housing and Urban Development (HUD). A 3% down payment is required. Neighborhood Housing Services of New York City, Inc. (NHSNYC) administers the New York City Department of Housing Preservation and Development’s HomeFirst Downpayment Assistance Program.
4The Loan Origination Fee Waiver is a waiver of the Bank’s otherwise standard origination fee and is only available on agency products and portfolio products to agency limits for residential mortgage loans (purchases and refinances) in which the property is an owner-occupied primary residence (1-4 family, a condominium, or a cooperative property type), located in Popular Bank’s assessment area, and located within a majority minority census tract (“MMCT”) or the combined borrower(s) income is < 80% of the established FFIEC Estimated MSA/MD/non—MSA/MD Median Family Income. Other restrictions and limitations may apply.
5A qualified provider must be independent of the lender, with homeownership education content that is aligned with National Industry Standards (NIS) or is offered by a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD).
NMLS ID # 417584
Popular Bank, PO Box 4503, Oak Park, IL 60303-4503. Customer Service Phone: 1-888-500-2612
For New York Borrowers: Popular Bank is regulated by the New York Department of Financial Services (NYDFS). To file a complaint contact New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department’s website at
www.dfs.ny.gov. Popular Bank may utilize third party service providers to service your loan but remains responsible for all actions taken by the third party.
For more information regarding fees for mortgages and home equities serviced by Popular Bank, please see our Residential Mortgage and Home Equity Product Servicing Fees
here.
Does not apply to mortgages serviced by Popular Mortgage Services. For information regarding fees for Popular Mortgage Services accounts, please
sign in
to your account.
NYC Residents: Popular Bank provides language access services in Spanish. Please note that Popular Bank has customer service options to speak with an agent in Spanish. Popular Bank’s language access services are limited to verbal communications with an agent in Spanish. Popular Bank does NOT provide any other language access services in Spanish (or any other language) and, specifically, does not provide translations of any documents in Spanish (or any other language).
A translation and description of commonly-used debt collection terms is available in multiple languages on the NY Department of Consumer Affair’s website, www.nyc.gov/dca
Please never share your Popular account details with anyone. Popular will never ask you for your password through email, social media or a third-party website. Learn more.
This is a hyperlink to a third-party website, as described in our Weblinking Practices. Note that such third party's respective privacy policy and security practices may differ from those of Popular or its affiliates. Neither Popular nor any of its affiliates assumes any responsibility, nor do they control, endorse or guarantee any aspect of your use of any linked third-party website. Hyperlinks to third-party websites are solely for informational purposes and for use at your own risk.
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Important Update
The Speedpay® link to pay your loan is changing on January 28, 2021. If you have saved this link in your bookmarks please be aware that the old link will no longer work after December 16.
This is a hyperlink to a third-party website, as described in our Weblinking Practices. Note that such third party's respective privacy policy and security practices may differ from those of Popular or its affiliates. Neither Popular nor any of its affiliates assumes any responsibility, nor do they control, endorse or guarantee any aspect of your use of any linked third-party website. Hyperlinks to third-party websites are solely for informational purposes and for use at your own risk.
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