PRMI Home Advantage Plus Loan Program (HAP) is just what you need to compete against other home buyers in this low inventory and multiple offer real estate market. Make your offer unique and stand out to the seller by using the Home Advantage Plus Loan Program. Call the John Thomas Team with Primary Residential Mortgage today at 302-703-0727 to get started or APPLY ONLINE.

What are the Benefits of the Home Advantage Plus Program?

The following are the benefits of using the PRMI Home Advantage Plus Loan Program:

• Cover Up to 9% Appraisal Gap if Home Appraises Low
• Finance Lender Required Repairs into the HAP Loan
• Repairs are done after closing so no delays
• Finance a New Appliance Package into your HAP Loan
• Finance Upgrades into the HAP Loan with your home purchase:

1. New Carpet or Flooring
2. Update Bath and/or Kitchen
3. Many Other Options as Well

• Can be Combined with 5% Down Payment Assistance Program (620 Minimum Credit Score)
• Can have a Non-Occupying Co-Borrower if NOT using DPA Program

What are the Requirements to Qualify for a Home Advantage Plus Mortgage?

The minimum requirements to be eligible for HAP mortgage loan are as follows:

• Property MUST be your Primary Residence
• Minimum 620 Credit Score for All Borrowers
• No Minimum Required Repair Amount
• Repairs, Renovations, and Upgrades MUST be done by a Licensed Contractor Post Closing (No Self Help)
• Must Meet FHA Loan Guidelines for Eligibility
• Must Meet DPA Eligibility if using 5% Down Payment Assistance (620 Minimum Credit Score)

Can You Use a Down Payment Assistance Program with the HAP Loan Program?

Yes! You can use the PRMI Home Advantage Plus Loan Program combined with a Down Payment Assistance Program for up to 5% assistance of the total loan amount. Each borrower MUST meet the eligibility requirements for the down payment assistance program which means must have a minimum 620 qualifying credit score for all borrowers.

The Down Payment Assistance is in the form of a second mortgage loan at 0% interest and no payments for 30 years unless you sell, refinance or no longer occupy the property as your primary residence.

If you are a Delaware First Time Home Buyer then you can also enroll in the Delaware Mortgage Credit Certificate to take advantage of the First Time Home Buyer Tax Credit Program which gives you up to $2,000 a year as a Federal Tax Credit on your Federal Tax Return each year.

What States is the PRMI Home Advantage Plus Program Available?

The PRMI HAP Mortgage Loan Program is currently available in the following states exclusively through the John Thomas Team with Primary Residential Mortgage

• Delaware
• Maryland
• New Jersey
• Virginia
• Pennsylvania

***The 5% Down Payment Assistance Program is currently only available in Delaware.***

How Do You Apply for the Home Advantage Plus Mortgage Loan Program?

You can apply for the PRMI HAP Loan Program by giving the John Thomas Team with Primary Residential Mortgage a call at 302-703-0727 or you can APPLY ONLINE Get an unfair advantage over the competition today by applying for the Home Advantage Plus Mortgage Program.