The Right Loan to Power Your Next Move

2-1 Buydown Program

• Fixed-rate financing: This is not an Adjustable-Rate Mortgage (ARM) where the rate and payments can fluctuate uncertainly in the future.
• Increased affordability: The lower payments in the first two years may make the mortgage more affordable for borrowers who are stretching their budget to purchase a home.*
• The seller can pay the upfront fee on the buyer’s behalf, reducing the cost of financing.

Arriving Home

Standard fixed-rate second mortgage loan to eligible first-time homebuyers who:

• Meet basic credit score and income requirements
• Obtain a Conventional or Federal Housing Administration (FHA) first mortgage loan
• Contribute at least $1,500 of their own funds into the transaction

USDA Home Loan

• 100% Financing with Fixed Interest Rate
• 1% One Time USDA Guarantee Fee may be included in Financing
• .35% Monthly USDA Fee that is Included in Monthly Payment and often less expensive than PMI
• NO Down Payment Required
• Competitive Interest Rates
• Up to 6% in Allowable Seller Contributions | Gifts are a Permitted Source of Funds

FHA Home Loan

• 3.5% Minimum Down Payment; May be gifted from a relative
• Owner-Occupied Purchase or Refinance
• 1-4 Unit Primary Residence
• Fixed and ARM Loans Available
• No Income Limits | No Cash Reserves Required | Flexible Guidelines for Debt Ratios

State Bond – PHFA

• We offer the PHFA K-Gov with Advantage Assistance program.
• Primary residences only may be financed, and only one or two units.
• A 30-year fixed-rate FHA mortgage with a second interest-free loan for $6,000 (or 4% of the purchase price, whichever is less,) amortized over 10 years to help with closing costs.
• Non-occupying co-borrowers allowed, (higher credit requirements may apply).
• The borrower must contribute $1,000 or 1% of the loan amount, whichever is lower, and the payments for third party reports such as the appraisal may be included in the borrower’s contribution.
• Homebuyer education may be required, with higher credit it may only be suggested.
• Limits apply to income, assets and the purchase price, dependent upon location.

Jumbo

• Competitive jumbo rates and potential second-mortgage solutions which may improve rates and avoid mortgage insurance on larger loan sizes.
• Jumbo mortgage limits vary by county.
• We offer a 10% down jumbo program, (with some credit limitations, and mortgage insurance as applicable.)
• Financial reserves required, (may include retirement or investments)

Conventional Home Loan

• Purchase or Refinance
• 1-4 Unit Primary Residence
  • 3.0% Minimum Down Payment for first time home buyers; 5% down minimum for other
  • Funds may be gifted | Seller Assist allowed
• 2nd/Vacation homes
  • 10% down minimum | Funds may be gifted | Seller Assist allowed
• Investment properties
  • 15% down minimum for 1 unit homes | 25% down min for 2-4 unit homes
  • Seller assist allowed up to 2%
• Fixed and ARM Loans Available | No Income Limits

CASH BUYER PROGRAM.

• Increase your buying power & chances to win your dream home with a winning cash offer!
• No Upfront Fee! Will Not Affect Your Rate!
• Only $499 program fee at closing with winning offer!

KNOW YOUR CASH BUYING OFFER.

With HMA Mortgage’s fully underwritten pre-approval, you’ll know the loan terms & cash limits you qualify for so you can make a highly competitive offer.

MAKE YOUR CASH OFFER.

No appraisal contingencies or financing needed! You can secure extra offer funds with an appraisal gap coverage if you choose.

INCREASE YOUR CHANCES.

Almost 60% of homes sold receive more than one offer. With the Cash Buyer Program, you are 4x’s more likely to be the top offer! Get the competitive edge now!

Platinum Pre-Approval

HMA will fully-underwrite a buyer’s credit file and issue a credit approval. This underwritten pre-approval is good for 60 days and requires the following:

• Borrower to provide a complete credit file, complete with credit report, income and asset documentation, and any additional documentation as required by underwriting.
• Conforming, Fixed-Rate and FHA purchase loans only.
• Minimum FICO and Debt-to-Income Ratio requirements apply.
• Once approval is issued, if a home goes under contract for that borrower and HMA turns the loan down, we will pay the seller $2500.

Underwriting Pre-Approval decision is subject to:

• Completion of Appraisal Report supporting the purchase price, if applicable
• No unresolved property condition issues from a home inspection, if agreed to in the sales agreement
• Insurable title from seller, free of defects or unresolved title issues
• Purchase price and monthly PITI payment must remain within the limits set by the underwriting decision.
• Borrower agrees not to make any significant changes to their credit profile until after the purchase transaction has been completed (e.g., buying a new car or changing employers). If such a change occurs it will invalidate an existing Underwriting Pre-Approval decision, but the borrower may request to be re-approved with the new information.
• Borrower must not voluntarily withdraw their mortgage application.