Ledyard National Bank
Dartmouth Plus Mortgage Assistance
Dartmouth employees who are purchasing a primary residence can use all of
Ledyard's standard mortgage loan products with the Dartmouth Plus program,
which include the following fixed and adjustable rate loans.
Regular Full-time Employees
- A $500 credit towards closing costs;
- Relaxed criteria for private mortgage insurance on ARM loans (LTV<=85%
require no PMI);
- Accommodating qualification ratios and loan-to-value ratio criteria;
- Subject to verification of credit; financing may be available for up to
100% of the purchase price;
- Buydown programs available.
Nationally Recruited Employees
Tenure-track faculty, tenured faculty who have received tenure at Dartmouth
within the last 2 years, and administrators at level PDLA and above who have
accepted a position at Dartmouth within the last 2 years (collectively,
“nationally recruited employees”) can also use the following features to
enhance existing Ledyard mortgage loan products and to improve housing
affordability:
- A $500 credit towards closing costs;
- A 0.25% (25 basis points) interest rate discount on Ledyard's Adjustable
Rate Mortgage (ARM) loan rate;
- A 0.125% (12.5 basis points) interest rate discount on Ledyard's Fixed Rate
Mortgage loan rates;
- Interest only loans available on fixed rate products;
- Relaxed criteria for private mortgage insurance on ARM loans (LTV<=85%
require no PMI);
- Accommodating qualification ratios and loan-to-value ratio criteria;
- Buydown programs available.
Adjustable Rate Mortgage ("ARM")
All Dartmouth College employees can take advantage of Ledyard’s 1/1, 3/1,
5/1 or 7/1 ARM programs with financing up to 95%. Loans with LTV <=
85% require no PMI.
Other Loans Available
- 100% Financing
- New Hampshire Housing Finance Authority and Vermont Housing Finance Agency
for qualified buyers.
Eligible Dartmouth Employees wishing to learn more about Ledyard National
Bank’s Dartmouth Plus mortgage loan alternatives should contact:
David Skewes
(603) 640-2680
E-Mail: david.skewes@ledyardbank.com
