Terms and Conditions
Not all products and services are offered at all locations and all states HarborOne Mortgage, LLC (HOME) lends in. The information on this website is not intended as an offer or solicitation for any mortgage product. Terms and conditions of mortgage programs, information, and rates are subject to change at any time without prior notice. Certain Mortgage Programs are subject to change and may be discontinued at any time. All products are subject to underwriting approval. Other restrictions and limitations may apply.
HOME Promise Program
Offer/program must be mentioned at time of application to qualify. Offer applies only to Purchase transactions with no additional financing or grants. Offer not available on: VA, RD, Construction-permanent financing, condominiums and Rehab loans. This program is subject to change and may be discontinued at any time. Loans are subject to credit approval and verification of information provided on the application. Other terms and conditions may apply. Terms and conditions subject to change at any time without prior notice. Payment made in the form of $500 Visa® gift card. The delay must be caused by HarborOne Mortgage LLC (HOME) in order to be eligible for the $500 Visa® gift card. Consumer must notify HOME within 10 days after closing that they wish to receive the $500 Visa® gift card.
- The closing date must be at least 21 days from the later of the loan application date and/or the purchase contract date. All documents must be submitted to HOME within 2 business days of a request: full income verification, complete asset statements, credit reporting documents, appraisal and any other documentation requested. There are no credit related disputes, such as credit reporting errors which must be rectified prior to loan closing. If required an appraisal will need to be completed. Property’s that receive an initial appraisal that is subject to repairs and /or completion a final inspection will be required.
- The closing may not be delayed by the buyer, seller or a third party, such as a real estate attorney, title company, failure to obtain a homeowner's insurance policy, flood zone determinations or obtaining flood insurance if required, inclement weather, a natural disaster, or other emergency outside of HOME’s control.
- Closing delay cannot be caused by: changes to the original closing date documented in the purchase agreement initiated by the borrower, seller or third-party. Closing date extensions due to a delay in completion of new construction, improvements, or repairs being made to the subject property. Failure by either party to meet contract terms and requirements, including seller related delays. Delays due to borrower’s failure to respond to requests. Delays due to non-arm’s length transactions (purchase transaction in which a personal, financial or business relationship exists among any of the parties to the transaction).
- Please consult your tax advisor if you have any questions about your personal tax situation. You are responsible for reporting any taxes that may be due to receiving the HOME Promise Program Visa® gift card.
HOME Buydown Program
2-1-0 Buydown and 1-0 Buydown Options Available*. 2-1-0 Buydown has a 2% reduction in the rate for the first year then a 1% reduction in the rate the second year. 1-0 Buydown is 1% reduction for the first year then the note rate. Primary Residence and Second Homes Only. Buydown amount counts towards IPC (Interested Party Contribution).*Purchase Transactions Only. Paid by seller only (No borrower, builder, or lender funded buydowns allowed). Additional terms and conditions may apply. Borrower must qualify at the note rate. Investment properties and manufactured homes are not eligible. This is not an offer for an extension of credit or a commitment to lend. Subject to underwriting approval.
The 1st Gen Cash Assistance grant offered through NH Housing provides a $10,000, 4-year forgivable second mortgage to be used towards down payment, closing costs and prepaids. Eligible borrowers must meet the requirements of being a First-Generation Homebuyer and be purchasing a 1-4 family residence in the State of NH with a NHHFA first lien.
First-Generation Homebuyer Requirements:
- A borrower and co-borrower (if applicable) that do not currently, nor have previously, owned a home;
- The borrower’s and co-borrower’s (if applicable) parent(s)/legal guardian(s) do not currently, nor have they previously, owned a home in the homebuyer’s lifetime;
- A non-borrowing spouse (if applicable) does not currently, nor has previously, owned a home.
- The borrower or co-borrower (if applicable) was in foster care or legally resides in the United States as a refugee or under asylum status granted by USCIS.
- All borrowers and non-borrowing spouses must meet the definition of a “first-generation homebuyer”.
- For households headed by people of color earning up to 120% of the area median income
- First-time homebuyers only
- Up to $50,000 grant for down-payment and closing-cost assistance
- Buyers who qualify include:
- Black/African American, American Indian, Alaska Native, Asian (Native Hawaiian or Pacific Islander), Hispanic or Latino
- Available for properties located in New England only. Cannot be combined with EBP and/or HOW programs.
- Can only be combined with Conventional and FHA loans.
- LiftUp Program is subject to change or end without notice.