The HOMERUN Mortgage Program
What you need to know...
 

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An Innovative Solution for Homebuyers

What is the Homerun Mortgage Program? The main program highlights: 3% downpayment, no mortgage insurance, and a lower than market interest rate. The Homerun Program represents a breakthrough in home financing, offering borrowers an exceptional opportunity to purchase a home without the burden of Private Mortgage Insurance (PMI) and the traditional 20% down payment. A 'CRA' program allowing a minimal down payment, with no mortgage insurance, AND with lower than average market rates, the Homerun Program gives potential buyers an enormous advantage. Limited to certain states and counties, the Homerun program may be available near you! This program is not just an alternative financing option but a game-changer for prospective homeowners.

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Single-Family Properties: Only 3% down!

What is the required downpayment for the Homerun Program? For those eyeing a single-family property, the Homerun program stands out with its minimal 3% downpayment requirement and only 1% required from borrower contribution, meaning the remaining 2% may be a gift or from another source. The standard for no mortgage insurance is typically 20% downpayment, The Homerun program gives you the benefit of no mortgage insurance at ONLY 3% DOWN! This drastically lowers the barrier to homeownership, making it accessible to a broader range of buyers.

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2-Family Homes: Affordable 10% Downpayment

What is the downpayment requirement for a 2-family home with the Homerun Program? Even for 2-family homes, the program breaks the norm by only requiring a 10% downpayment and only 5% from borrower contribution, significantly less than the usual 20%. However, it's important to note that 3-4 family properties are not covered under the Homerun program.

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Lower Rate, Yet Another Program Advantage

What is the interest rate for the Homerun Program? One of the most attractive features of the Homerun program is the availability of discounted interest rates. While these rates may vary, they offer the potential for significant savings over the life of the loan. To receive a rate quote, you must contact a licensed loan originator that offers this program, Kerim Sarki 973-905-1907 NMLS#127271 is an experienced MLO that can assist you with any questions you may have. Below is a reference and more information on Kerim Sarki...

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Geographic Eligibility: States & Counties

The Homerun program is available in multiple states, including CA, NV, SD, IL, FL, VA, MD, CT, NJ, NY, DC, expanding the reach of this advantageous financing option. 

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County-Specific Qualifications

Within these states, only select counties qualify for the Homerun program. This geographical specificity ensures the program targets areas where it can be most effective.

 

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What areas qualify for the Homerun Program? The Two Pathways to Qualify...

1. Location in Eligible Counties and Census Tracts: If a property is within an eligible county and falls in a qualifying census tract, it qualifies for the Homerun with no income restrictions for the borrower.

2. Income Restrictions Outside Qualifying Census Tracts: Properties in eligible counties but outside qualifying census tracts can still qualify, provided the borrower's income does not exceed 80% of the area's Median Family Income (MFI).

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Homerun Address Lookup Tool & Interactive Map: Check what areas & addresses are eligible for Homerun!

How to find eligible properties for the Homerun Program? An exclusive interactive map on this website through the 'Homerun Map' tab allows lenders, realtors, and potential borrowers to verify if a specific property or area qualifies. This tool is invaluable for simplifying the qualification process and is the only one available on the internet. Sign up and start your free trial today!

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Availability: Limited Lender Options

What Lenders offer the Homerun Program?

Not all lenders offer the Homerun program. This exclusivity underscores the program's innovative approach and also means interested borrowers must identify participating lenders. Below is a reference for Kerim Sarki, a licensed originator specializing in the Homerun Program.

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Qualifying for the Homerun Program

Credit and Income Requirements

Like any mortgage program, the Homerun requires meeting certain credit scores and income criteria. These requirements are essential for ensuring responsible borrowing.

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Consulting a Loan Specialist

To understand if you qualify for the Homerun program, it's recommended to consult a Loan Specialist. They can provide tailored advice and guide you through the application process.

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Who to contact for the Homerun Mortgage Program? Contact a Homerun Program Specialist; Kerim Sarki, NMLS#127271, is a highly recommended Mortgage Loan Advisor and Program Specialist. With expertise in the Homerun program and a track record of successful loan closures, Kerim is the ideal consultant for prospective borrowers who can answer your questions and walk you through the process of getting qualified for the Homerun Program. 

He is one of a few loan advisors who have experience with the Homerun guidelines and have had success getting to the closing table many times over!

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How to Reach Kerim Sarki, Mortgage Loan Officer offering Homerun Program;

You can contact Kerim Sarki at 973-905-1907 or via email at Kerim@cfmtg.com for detailed information and guidance. His association with Cornerstone First Mortgage, one of the few lenders offering the Homerun Program, makes him a valuable resource. For more information and to apply, visit www.SarkiMortgage.com

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