Home Opportunity Mortgage

• Pay as little as 2% down when purchasing a home. *The 6.49% Annual Percentage Rate (APR) is fixed. Applicant must meet one of the following guidelines to qualify 1) annual income must be: Hattiesburg | $62,559.92 or less | Maximum loan amount $200,000 Jackson | $61,439.92 or less | Maximum loan amount $200,000 DeSoto County | $63,359.92 or less | Maximum loan amount $200,000 Non-Metro Area | $51,359.94 or less | Maximum loan amount $200,000 (Lowndes, Noxubee, Neshoba, Leake, Attala, Lauderdale, Clarke, Jones and Wayne Counties). OR 2) home must be located in MS and identified as low to moderate income tract as defined by latest US census. Limited to a home and five acres. The land value should not be more than the home. Minimum credit score of 625 to qualify, other restrictions may apply. Minimum loan amount of $25,000, 2% down payment required on home purchases, 5% down payment for any refinance (No Cash Out), 20-year or 30-year term. Customer pays all closing costs, doc prep fee of $300, no origination fees, no PMI, taxes and insurance will be escrowed in monthly payment. For example, a home purchase of $75,000 with a 6.49% APR fixed and a 2% down payment would cost $548 per month, plus escrow of taxes and insurance, for 240 months. Offer is subject to credit approval. Rates subject to change.
• Pay as little as 5% down for a refinance.
• You’re eligible if you live in a low- to moderate-income Mississippi area and the home sales price is $200,000 or less.
• 20-year or 30-year term.