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| Buy your first home, or refinance your existing home? |
If you are planning to buy your first home, or refinance your existing home, you probably have many questions—including questions about which type of mortgage is right for you, and how to qualify for the best possible one.
The Responsible Homeownership (R-HOME) mortgage was specifically designed to give responsible homebuyers the opportunity to qualify for stable, affordable, fixed-rate prime mortgages. |
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| Why is an R-HOME mortgage better? |
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The R-HOME mortgage is more than innovative technology and a stable, affordable interest rate. At the heart of R-HOME is also the confidence and security borrowers get from the personal financial counseling and support that are integral parts of the R-HOME process — beginning with the initial counseling intake and continuing throughout the life of the loan. Moreover, all fees and closing costs are fully disclosed and explained to the borrower in advance, the interest rate is fixed for the life of the loan, and there is never a prepayment penalty.
The ground-breaking R-HOME mortgage process offers first-time homebuyers an opportunity to qualify for a stable, affordable, 30-year, fixed-rate prime mortgage. The process enables lenders to evaluate applicants' creditworthiness based on their history of paying such things as rent, utilities and childcare expenses. Even for borrowers without traditional credit scores, the R-HOME process recognizes and rewards applicants' responsible financial behavior. |
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Equal Housing Opportunity
