The HomeRun Program is a special mortgage option available only in certain approved areas. If the property qualifies and it falls within a designated low to moderate-income area, there are no income limits for the borrower. Once the home meets the location requirements, eligible buyers can take advantage of flexible financing terms, low out-of-pocket costs, and no mortgage insurance.
The HomeRun Program is a great fit for buyers who do not currently own any other real estate at the time of closing. You do not need to be a first-time homebuyer. It’s ideal for those purchasing in an approved area who want lower monthly payments and a low down payment requirement.
The HomeRun Program allows for just 3 percent down, but only 1 percent must come from the borrower’s own funds. The rest can be covered through gifts, grants, or approved assistance programs. This makes it a strong option for buyers who have limited savings.
Eligibility is based on income limits for the area and may require completion of a homebuyer education course. These features are designed to ensure buyers are prepared for long-term success as homeowners.
Buying a home should feel achievable. With the HomeRun Program, it can be. Whether you’re purchasing your first home or refinancing into a better option, our team is here to guide you through the process. Talk to a loan officer today and find out if this program is the right fit for you.
Did you know that in the time it took you to read this page, you could already be pre-approved? Take the first step to getting your new home.
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