HomeOne℠ Mortgage

HomeOne℠ mortgage is made available to qualified first-time homebuyers for a low down payment of just 3%.This low down payment option serves many first-time homebuyers’ needs, along with no cash-out refinance borrowers. Additionally, this program allows more first-time homebuyers to achieve the homeownership milestone, regardless of their income or geographic location. HomeOne℠ reflects a dedication to responsible lending, sustainable homeownership, and improving access to credit.

With more flexibility for maximum financing, HomeOne℠ provides expanded opportunity and greater certainty to bring more borrowers to the closing table by allowing both Affordable Seconds® and other secondary financings, the maximum being 105%

The HomeOne℠ program is ideal for:

  • First-time buyers who plan to occupy the home as a primary residence
  • All borrowers must occupy the mortgaged premises as a primary residence.
  • Have had no ownership interest (sole or joint) in a residential property during the three years preceding the date of the purchase of the mortgaged premises.
  • 1-unit properties, including condominiums and units in planned unit developments (no manufactured homes)
  • Have limited cash for a down payment — but at least $1000.00
  • 620 Min FICO Score without affordable seconds
  • 640 Min FICO Score with affordable seconds
  • 97% LTV / 105% TLTV (when secondary financing is an Affordable Second ) / 97% HTLTV.
  • The standard required, or custom MI coverage levels for HomeOne℠ are 35% and 18%, respectively.

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