Mortgage interest rates are the lowest they have been in decades, and homes are more affordable than ever, yet many interested homebuyers still struggle with the ability to secure a loan. In order to help more people take advantage of today’s record lows, HUNT Mortgage has introduced the “Home In 3” program. With the increased regulations impacting the mortgage industry today, it is more important than ever to offer real solutions to help people buy the home they have always wanted. “Home In 3” is designed to do just that.
In essence, “Home In 3” is a reduced-cost, low-down-payment alternative to FHA that will provide additional opportunities to make the dream of homeownership a reality. HUNT Mortgage created this program in partnership with one of their Mortgage Insurance providers, MGIC, as a response to rising FHA mortgage costs.
What makes it “Home In 3?” According to the company, it’s three things: a reduced minimum down payment of 3 percent, up to 3 percent in allowable seller concessions, and a $300 discount off closing costs from HUNT Mortgage. Depending on credit score, some buyers may receive a waiver from the usual underwriting requirement that their down payment must be documented as their own funds and instead, eligible borrowers will be able to use gift funds as their source of down payment. Borrowers who qualify to take advantage of all of the special features of “Home In 3” may be able to save up to $8,000 in out of pocket cash.*
“One of the greatest barriers to homeownership is accumulating sufficient cash for the down payment and all of the other associated costs,” says Linda Mallia, president of HUNT Mortgage. “By bringing this new product to the market and adding our own closing costs discount, we at HUNT Mortgage believe we can help more of our customers achieve the American Dream,” Mallia continues.
HUNT Mortgage specializes in finding the best loan products available in the market, and combines them with “Knock Your Socks Off” service. Special discounts with a variety of home related vendors are also available to all HUNT Mortgage customers who close on their loan.
For more information visit www.huntrealestate.com.