First Northern Bank this week announced its investment in the California Housing Finance Agency Zero Interest Program loans, available to low- to middle-income people in Placer, Sacramento, Yolo and Solano Counties for a total of $ 665,805.

The CalHFA ZIP Loan is an interest-free loan to cover down payment or closing costs for first-time home buyers using the CalPLUS FHA program for their fully amortized 30 year fixed rate FHA insured mortgages. “When we heard about this relatively new program to help underserved people realize the dream of home ownership in the communities that First Northern Bank serves, we wanted to get involved,” said Jeremiah Smith, senior EPP / chief operating officer.

“The program is very flexible because the financed objects can be single-family houses, condominiums or prefabricated houses. The borrower must have the property as their primary residence, meet the CalHFA income limits that vary by county, complete homebuyer educational counseling, and obtain a certificate of completion from an appropriate homebuyer facility.

The CalHFA ZIP loan is a silent second loan for either 2.00% or 3.00% of the total CalHFA first mortgage loan, including the Mortgage Insurance Premium (UFMIP). The interest rate is zero percent (0.00%).

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Also earlier this week, Steve McCurley, Senior Vice President and Team Manager, First Northern Real Estate, announced that Sean O’Hare has joined the bank’s commercial real estate lending team as Vice President / Commercial Real Estate Loan Officer.

O’Hare’s 13 years of experience in the financial services industry includes commercial lending, real estate lending, underwriting and business development. Prior to joining First Northern Bank, he was a commercial real estate portfolio manager at Bank of the Sierra in Roseville. He is a member of the Association of Commercial Real Estate (ACRE) Sacramento and has enjoyed volunteering at Second Harvest Food Bank of Silicon Valley and Services for Brain Injury (SBI) in San Jose. He is also looking forward to volunteering in our community in the coming year.

O’Hare is from San Jose and lives in Lincoln with his wife and son. He enjoys playing golf, water skiing, snowboarding, attending sporting events, and spending time with family and friends.

First Northern Bank’s commercial real estate and capital area lending teams are located at 1375 Exposition Blvd., Suite 101, Sacramento. The office is open Monday to Friday from 9 a.m. to 5 p.m.

Northern Bank is a local community bank headquartered in Dixon, California with 10 offices throughout the Greater Sacramento region. The bank was founded in 1910.