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First Home Exclusive Programs

We offer several different types of loans and programs that are exclusive to First Home Mortgage customers.
Let us help you unlock the doors to homeownership!

HomeRun Mortgage
  • No mortgage insurance required
  • Down payments as low as 3%
  • Not limited to first-time homebuyers
  • Homeownership counseling for borrowers with previous homeownership experience may be waived
  • Significant price/rate incentives for eligible borrowers
  • Loans up to $766,500
  • Program eligibility is county and state based. Eligible states include CT, DC, FL, MD, NJ, and VA. Reach out for county information. 
  • Up to $3,000 in closing cost of down payment assistance to eligible homebuyers in the form of a First Home Mortgage Corporation grant
  • Homebuyers must meet low-to-moderate income level criteria, based on Area Median Income
  • Available only on conventional 3-year loans from Fannie Mae HomeReady and Fannie Mac Home Possible
Dream
One
  • Qualified buyers must contribute 1% toward the purchase of their home, and First Home Mortgage will contribute 2% (up to $5,500) towards the down payment and/or closing cost assistance
  • All borrowers must be at or below the 50% Area Median Income
  • Available only on conventional 30-year fixed purchase loans
  • This program offers benefits to all homebuyers, not just first time buyers
  • Education is required if all occupying borrowers are first time buyers
  • At least one borrower on the loan must be of an eligible profession, including licensed or certified medical professionals, police, firefighters, and teachers
  • Primary residence only
  • Does not need to be a first time homebuyer
  • For purchase loans only, refinances and renovations are not eligible
  • Eligible borrowers will have their application, underwriting, and processing fees credited back to them at time of closing, up to a maximum of $1,585
Heroes

Other Loans & Programs

Purchasing and Refinancing Loans

Fixed Rate

  • Interest rate security
  • Monthly payment stability
  • Best for buyers planning to stay in their homes a long time 

Adjustable Rate ("ARM")

  • Low starting interest rate
  • Lower monthly payments during the initial term
  • Best for buyers planning to keep their loan for a shorter period

Jumbo

  • Fixed and ARM options
  • Loans up to $3 million
  • Best for borrowers who are in the market for higher priced homes

Government Loans

FHA

  • Down payment as low as 3.5%
  • Flexible use of gifts and grants for down payment
  • Best for borrowers with limited assets for purchase

VA

  • Low to no down payment
  • Refinance within the VA program without re-qualifying
  • Specifically for eligible past and present United States Military service members and spouses

USDA

  • Down payment not required
  • Provide up to 100% financing
  • Best for borrowers with limited assets looking to buy in rural areas