Loan Products

Low Down Payment – First Time Buyers

Low down payment, with a great rate, allows you a head start on your equity. HomeQuest Mortgage partners with the best wholesale lenders in the industry. This gives you a low down payment on an FHA loan.   Grants of 2% available!

Program highlights include:

  • Low  Down Payment, with grants of 2% available
  • 600+ FICO
  • DTI per DU findings
  • Expanded “Debt to Income” or DTI available
  • Close in 30 days or less

Elite

An obvious choice if you are a top-tier borrower! Comprised of some of the best conventional rates and pricing in the industry, HomeQuest Mortgage Elite program allows you to close quickly.

  • 700+ FICO
  • Up to 80% LTV
  • Loan amounts from $200,000 up to County Loan Limits
  • Appraisal Waivers honored
  • Underwrite to AUS findings
  • Includes Conventional, High Balance and ARMs

Pay Advantage

Eliminate monthly mortgage insurance and increase your buying power! Pay Advantage offers you one of the lowest monthly payments available with a low down payment.

  • Up to 97% LTV with no monthly M.I. “Mortgage Insurance
  • 100% gift for down payments eligible
  • Underwrite to AUS findings
  • M.I. certificates issued at the time of underwriting with no M.I. overlays

ARMs

HomeQuest Mortgage, aggressive ARM pricing can provide a lower payment for you! Secure a competitive 5/1, 5/5, 7/1 or 10/1 low interest rate ARM.

  • Provide savings with lower rate and payment options
  • Compare options for the best scenario
  • Reduced caps to 2/2/5 on all 5/1 and 5/5 ARM products
  • 7/1 ARMs qualify at the actual note rate

HomeReady

Fannie Mae’s conventional option for borrowers looking to purchase with a low down payment or refinance with limited equity

  • Purchases up to 97% including FTHB
  • Refinances serviced by FNMA eligible up to 97% LTV
  • Reduced Mortgage Insurance
  • Relaxed AMI income limits based on census tracts
  • Gift funds eligible for entire down payment

Home Possible

A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity.

  • Up to 95% LTV
  • First time homebuyers, move-up borrowers, and retirees
  • No income limits for Underserved Areas
  • Appraisal fee credit up to $525 given at closing

Home Possible Advantage

A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity.

  • Up to 97% LTV
  • First time homebuyers, move-up borrowers, and retirees
  • Refinances up to 97% LTV, regardless of current mortgage program
  • No income limits for Underserved Areas
  • Appraisal fee credit up to $525 given at closing

Elite High Balance

Elite High Balance offers some of the best conventional high balance rates and pricing if you top-tier clients. You’ll receive industry-leading turn times, direct access to underwriting, and award-winning technology with every loan.

  • 700+ FICO
  • Up to 90% LTV
  • Loan amounts from $453,100 up to $679,650
  • Appraisal Waivers honored
  • Underwrite to AUS findings
  • Includes Conventional, High Balance and ARMs

Elite High Balance ARM

Need an ARM loan to accommodate non-conforming loan amounts if you are a top-tier borrower? The Elite High Balance 5/1 and 7/1 ARM products are great options.

  • 700+ FICO
  • Up to 90% LTV
  • Loan Amounts from $453,100 up to $679,650
  • Appraisal Waivers honored
  • Underwrite to AUS findings

High Balance – Fixed Rates

Don’t meet the Elite status? HomeQuest Mortgage offers some of the most competitive rates and close their High Balance loan in record time!

  • Loan amounts from $424,101 – $679,650
  • Elite pricing available if your FICO improves through the process
  • 640+ FICO

High Balance ARMs

Need an ARM loan to accommodate non-conforming loan amounts? Qualify with HomeQuest Mortgage’s high balance 5/1 and 7/1 ARM products! Conventional loans meeting the following requirements are eligible:

  • $453,100+ loan amount
  • LTV’s as high as 90%
  • 640+ FICO
  • Underwrite to AUS findings
  • Available in Arizona

Flex Term

Customize the perfect loan for your borrower without resetting the mortgage clock! Flex Term provides you with flexible options to select your amortization term.

  • Available on all conventional loan products
  • Terms available from 8–30 years

Limited Review Condos

HomeQuest Mortgage makes your condo approvals quick and easy with our limited review process. All files receiving a limited review response in AUS “Automated Underwriting System”  will only need a minimum evaluation by our condo department.

  • Available in Arizona
  • No condo questionnaire required

Split 50 and Split 100

Split 50 and Split 100 is a hybrid program combining a single-premium M.I. adjustment with the balance of the M.I. premium to be paid at a reduced monthly rate. You will benefit from a lower monthly M.I. payment, saving them hundreds of dollars every month while giving them a great low rate.

  • LTVs up to 95%
  • Split 50 at only 50 basis points
  • Split 100 is a less expensive option for you than FHA loans
  • Underwrite to AUS findings

HARP 2.0

We’re closing HARP 2.0 (Home Affordable Refinance Program) in 20 days or less! Do you have a current loan with Fannie Mae that was originated prior to May 31, 2009? HARP 2.0/DU Refi Plus allows you to refinance your current loan even if you owe more than the property is currently valued at.

  • Up to 175% LTV/Unlimited CLTV
  • No DTI restrictions (approve/eligible findings)
  • Appraisal Waivers honored
  • Condos and high balance loans are eligible up to 125% LTV/CLTV
  • M.I. transfers allowed with our HARP 2.0 with M.I. program