Step Up to the Plate of Homeownership.
If you’ve been dreaming of buying a home but feel like high down payments and strict credit rules are standing in your way, the HomeRun™ Mortgage might be the solution you’ve been waiting for.
This innovative loan program is designed to break down traditional barriers to homeownership, especially for those in underserved or moderate-income communities.
The HomeRun™ mortgage is a low-down payment loan program offering:
- Affordable monthly payments
- Flexible credit requirements
- No private mortgage insurance (PMI)
How Does It Work?
This program is part of a broader mission to invest in communities by expanding access to homeownership. The HomeRun™ mortgage helps families build wealth through real estate sooner by eliminating two major hurdles: big down payments and PMI.
Loan Limits
- Up to $806,500
Down Payments
- As little as 3% down on single-family homes and condos
- Even lower personal contribution allowed—just 1% from the buyer, with the rest allowed from gifts or down payment assistance (subject to guidelines)
No PMI
Buy with less than 20% down and skip PMI, saving you hundreds each month.
Fixed Interest Rates
Enjoy the peace of mind that comes with stable, competitive rates.
Eligible Property Types
- Single-family homes
- Condominiums (up to max loan limits)
Credit Scores
HomeRun™ takes a holistic approach. Your complete financial story matters; on-time rent payments, employment history, and other strong indicators can help offset a lower credit score.
Debt-to-Income Ratio (DTI)
- Allows DTI up to 43%
- Example: If you earn $3,000/month, you could qualify with up to $1,290/month in total debt obligations.
Income Limits
Available to borrowers earning no more than 20% above the median income for the area.
HomeRun with SPCP (Special Purpose Credit Program):
- For properties in majority Black and/or Hispanic communities
- Income must be under 120% of area median income, or
- If the area is designated as Low-to-Moderate Income, income restrictions may not apply at all
Is a HomeRun™ Mortgage Right for You?
If you’re a first-time buyer, don’t have 20% down, or are looking for a no-PMI, affordable loan in a qualifying area, this could be a home run for your goals.
It’s especially valuable for buyers who:
- Are priced out by traditional loan programs
- Need help with down payment funds
- Want to buy in their community but face lending barriers
Ready to Learn More?
The HomeRun™ mortgage is available in select areas and has unique eligibility guidelines. If you think this could be the right fit or are just curious about your qualifications, connect with a Southern Trust Mortgage Loan Officer today.
We’ll explain the numbers, check your region, and help you make the smartest decision regarding your homeownership journey.
Your homeownership journey starts here.
