Buying a Home
You’re in Control With an Honor Bank Home Loan
Whether it’s your first home or your fifth, buying a home is always a significant undertaking. The team at Honor Bank is here to help you through the process.
Right from the start, Honor Bank’s mortgage pre-approval helps you:
- Let everyone know you’re a serious buyer – A mortgage pre-approval from Honor Bank lets everyone – from your real estate agent to the seller – know you’re a serious buyer for a mortgage you can afford.
- Know the extent of your buying power – Knowing what you can afford gives you the confidence to examine your options objectively. Your real estate agent can help you more effectively knowing your budget and sellers are more likely to take you seriously.
- Streamline your Buying Process – While we’re pre-approving your mortgage application, you can be busy looking for the home that’s perfect for you. The underwriting process will take less time, too, so you can move into your new home sooner.
The team at Honor Bank is committed to working with you rather than focusing on increasing the bottom line of a big mortgage company. If that sounds like the perfect way to buy or build a home, get in touch to talk about your options.
Mortgage options for every lifestyle and budget
Every home buyer comes to the process with their own unique financial situation. Explore the variety of home loan options from Honor Bank below or get in touch with our mortgage team to find out which option best fits your needs.
Generally the best option when a borrower has at least a 20% down payment, but lower down payments can be approved with the addition of Private Mortgage Insurance. The maximum loan amount is $726,200.
Looking for a large loan? We offer fixed- and adjustable-rate programs with higher-than-conventional loan limits for those looking to finance a home that requires a jumbo loan.
USDA-Rural Development Loans
USDA-Rural Development loans require lower down payments, lower credit score requirements and offer up to 100% financing.
- Allows for seller concessions to help cover closing costs and pre-paid costs.
- Income limits and home location restrictions apply for this program.
Fannie Mae Homeready® Loans
Fannie Mae HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers that offers up to 97% financing.
- Cancellable mortgage insurance.
- Cash for down-payment and closing costs can come from multiple sources including gifts, with no personal funds required.
We make it easy to build a custom home from the ground up. Work with experts who how to manage these more complex loans.
- During the construction period you pay interest only on the funds that have been advanced
- Financing is available for primary residences, second homes, investment properties, double-wide manufactured homes, and modular homes.