Page 17 - HBREA | Realtist - Week 2021

3% down payment. No mortgage insurance.
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America’s Home Grant Program
®
Ask about our Affordable Loan Solution mortgage
®
There may be closing cost help in your area
Buying a home may be more affordable with our Affordable
Get up to $7,500 in closing cost help¹
Loan Solution mortgage. Put as little as 3% down, and no
®
Qualified homebuyers can get a lender credit to help make buying a home more affordable.
mortgage insurance is required.
• Eligibility depends on your income and the location of the home; other restrictions apply.
Now is the
• Homebuyer education may be required for first-time buyers from a
Save even more on
• Program funds can only be used for nonrecurring closing costs including title insurance,
Save even more on your
recording fees, and, in certain situations, discount points that may be used to lower the
HUD-approved counseling agency, including Connect to Own® providers,
a
down
payment
down payment
interest rate. Lender credit cannot be applied toward down payment, prepaid items or
or by completing Freddie Mac’s CreditSmart® program.
1
Visit my website to search
recurring costs, such as property taxes and insurance. Borrowers cannot receive program
Search for down payment
time to make
for down payment resources
• Maximum income and loan amount limits apply (varies by location)
funds as cash back.
resources plus cost savings
plus cost savings programs that
• Best of all, this is not a loan — It does not have to be repaid.
• Loan amounts up to $548,250 with 3% down payment and up to
2
programs that can be combined
can be combined with a low
$822,375 with 5% down payment in high-cost areas.
your move.
• Search our Real Estate Center to find homes that may qualify for our
with an eligible low down payment
down payment mortgage.
2
America’s Home Grant program.
mortgage from us (Freddie Mac
Home Possible , Affordable Loan
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At BancorpSouth Mortgage, we’re here to help.
Qualified borrowers must meet eligibility requirements including, but not limited to, being owner occupants, meeting certain qualifying income limitations and purchasing a
1
We’re right where you are ready to help find the home loan that works best for you, to offer advice and online
home within a certain geographical area. Minimum combined loan-to-value must be greater than or equal to 80%. The America’s Home Grant Program is a lender credit. Program
funds can only be used for nonrecurring closing costs including title insurance, recording fees, and in certain situations, discount points may be used to lower the interest rate.
mortgage tools & applications, and to guide you through the mortgage process step-by-step. So, go ahead. Make your
The grant cannot be applied toward down payment, prepaid items or recurring costs, such as property taxes and insurance. Borrowers cannot receive program funds as cash
back. Maximum income and loan amount limits apply. The home loan must fund with BankƒofƒAmerica. BankƒofƒAmerica may change or discontinue the America’s Home Grant
move, but don’t be surprised if we help you unpack. Because at BancorpSouth, we’re here to help any way we can.
Program or any portion of it without notice. Not available with all loan products, please ask for details.
2
Down payment and/or closing cost assistance programs may not be available in your area. Down payment and/or closing cost assistance amount may be due upon sale, refinance,
transfer, or repayment of the loan, or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest, and borrowers should
Find Your Home Loan Help at:
become fully informed prior to closing. Not all applicants will qualify. Minimum credit scores may apply. Sales price restrictions and income requirements may apply. Homebuyer
education may be required. Owner-occupied properties only. Maximum loan amounts may apply.
BancorpSouth.com/FindALender
3
Maximum income and loan amount limits apply. Fixed-rate mortgages (no cash out refinances), primary residences only. Certain property types are ineligible. Maximum loan-to-value
(“LTV”) is 97%, and maximum combined LTV is 105%. For LTV >95%, any secondary financing must be from an approved Community Second Program. Homebuyer education may be
required. Other restrictions apply.
VA funding fee applies except as may be exempted by VA guidelines. The fee is higher with a zero down payment, and maximum loan limits vary by county. If a down payment of 5%
4
1
Maximum income and loan amount limits apply. Fixed-rate mortgages (no cash out refinances), primary residences only. Certain property types are ineligible. Maximum loan-to-value (“LTV”) is 97%,
or more is made, the fee is reduced. The VA funding fee is non-refundable. Ask for details about eligibility, documentation and other requirements.
and maximum combined LTV is 105%. For LTV >95%, any secondary financing must be from an approved Community Second Program. Homebuyer education may be required. Other restrictions apply.
Monthly Mortgage Insurance Premiums (MIP) and Upfront Mortgage Insurance Premiums (UFMIP) apply. Maximum loan amounts vary by county.
5
Down payment and/or closing cost assistance programs may not be available in your area. Down payment and/or closing cost assistance amount may be due upon sale, refinance, transfer, or repayment
2
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
of the loan, or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest, and borrowers should become fully informed prior to closing. Not all
applicants will qualify. Minimum credit scores may apply. Sales price restrictions and income requirements may apply. Homebuyer education may be required. Owner-occupied properties only. Maximum
Affordable Loan Solution, America’s Home Grant, BankƒofƒAmerica and the BankƒofƒAmerica logo are registered trademarks of BankƒofƒAmerica Corporation.
loan amounts may apply.
Freddie Mac and Home Possible are registered trademarks of Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac.
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.
BankƒofƒAmerica, N.A., Member FDIC.
Equal Housing Lender.
Bank”of”America and the Bank”of”America logo are registered trademarks of Bank”of”America Corporation. Freddie Mac and CreditSmart are registered trademarks of Federal Home Loan Mortgage
©2021 BankƒofƒAmerica Corporation | FL-02-21-0454.B | MAP3419296 | 02/2021 | 00-62-3473NSB
Corporation (FHLMC), known as Freddie Mac. Bank”of”America, N.A., Member FDIC. Equal Housing Lender.
Mortgages are subject to approval. Interest rates are subject to change without notice & dependent on credit score. This is not a commitment to lend or rate guarantee. | NMLS #410279
©2021 Bank”of”America Corporation. FL-12-20-0359.B | MAP3354090 | 12/2020 | 00-62-0003D
©2020 BancorpSouth All Rights Reserved