Howard Hanna Loan Programs

With Howard Hanna – it’s Truly One Stop Home Shopping!

Shop a Variety of Lenders from One Location
Howard Hanna Mortgage Services offers you the best programs and rates…bottom line. As the largest mortgage company in the area, we make over 75 lenders compete for your business everyday. Our diverse group of lenders allows us to offer you over 1,000 of the best loan programs at the most competitive rates. Please take a moment to review the various loan programs we offer.

Programs	Advantages	Disadvantages
Fixed Rate Mortgages
A wide range of traditional, fixed-rate mortgage programs, including 10, 15 20 and 30-year can be tailored to fit your specific needs and long-term financial goals.	Monthly payments are fixed over the life of the loan Interest rate does not change Protected if interest rates go up Ability to refinance if rates decrease	Higher interest rate Higher mortgage payments Interest rate remains fixed regardless of market fluctuation
Adjustable Rate Mortgages
A vast array of adjustable rate mortgage programs, ranging from 1 month to 10 years, offering lower interest rates and lower payments than fixed-rate mortgages.	Lower initial monthly payment Lower payment over a shorter period of time Rates and payments may go down if rates improve May qualify for higher loan amounts	Exposure to interest rate risk Payments may change after fixed period Potential for high payments if interest rates increase
First Time Buyer Programs
Howard Hanna has a variety of programs to meet the unique needs of our first time buyers, including competitive costs and below market interest rates for qualified buyers.	Low to no down payment options available Less stringent guidelines Lower interest rates available with certain programs	May be subject to income and property value limitations Some government subsidized programs may have a recapture tax if the home is sold too soon in certain geographic areas
FHA/VA Loans
These programs are intended to make home ownership easier to achieve for qualified buyers. Howard Hanna Mortgage Services is an FHA Direct Endorsement lender.Veterans Administration (VA) loans are available for those who have served in our military service. Howard Hanna Mortgage Services is a Veteran’s Administration automatic lender.	Require little or no down payment Competitive interest rates Can be forgiving of less than perfect credit Insured by the Federal Government	Must meet certain guidelines Lower loan limits
Buy Before You Sell
Our own innovative program that applies the equity in your current home towards the down payment on you next home, allowing you to buy with confidence even before your current home is sold.	Provides down payment funds for next home purchase Eliminates home sale contingency Payments can be deferred for qualified buyers	90 day term Must meet certain guidelines Must have equity in current home Rentals, multifamily and commercial properties are not eligible
Construction Loans
Building your dream home? Howard Hanna can make your dream home a reality with just one loan.	No up-front commitment fee Competitive Fixed and Adjustable rate programs 9 month construction period Reasonable builder approval requirements	Self-builds are not permitted Program may not be available in alllocations
Renovation Plus
Enables a buyer to finance a home purchase, as well as substantial home improvements to that property, with one monthly mortgage payment.	Create immediate equity by incorporating the cost of improvements into one mortgage Cost effective alternative to home equity loans and high interest credit cards Eliminates the hassle of funding projects over time and out-of pocket costs Make improvements before moving in	Cannot be used for structural repair Must qualify for entire loan amount including improvements Program may not be available in all locations
Luxury Mortgage Programs
At times, home buyers need to secure a loan in excess of $400,000. Howard Hanna offers a variety of mortgage options to accommodate our luxury home buyers.	Allows you to borrow up to $5 million (ability to lend more on a case-by-case basis) Exclusive privileges through Howard Hanna’s Distinctive Client Services	Higher interest rates to compensate for risk Larger down payment required

Let Howard Hanna not only help you find and secure your next home but also help you find your perfect mortgage program as well. Call or text me at 412-613-4466 and let’s begin your COMPLETE home buying experience together!

		Eric McKenna, Realtor Howard Hanna Real Estate Services Mobile: 412-613-4466 call/text Email: sold@ericmckenna.com Website: www.EricMcKenna.com Address: 1001 Beaver Grade Rd, Moon Twp PA 15108

What is a Mortgage Pre-approval? Generally, a pre-approval is a written statement from a lender stating the lender’s preliminary determination that you would qualify for a particular loan amount under that lender’s guidelines. The determination and loan amount are based on your income and credit information. Most pre-approval letters are good for 60 to 90 days.

Does Pre-approval Guarantee Me A Loan? No. It’s important to understand that pre-approval letter is not an offer to lend, a commitment to make a loan, or a guarantee of specific rates or terms. Also, regardless of pre-approval, a lender may require additional income and asset verification, as well as the satisfaction of other conditions, before extending you a loan. Pre-approval letters are subject to modification or cancellation if your financial situation or other conditions change.

Why Should You Get Pre-approved? The short answer is Yes! The most important reason is that you will get an accurate idea of how much home you can afford. This can help to target your home search and ensure you only look at houses that are truly in your price range. Also, a pre-approval letter can make you stand out in a competitive real estate market. If you make an offer on a house without a pre-approval, your offer may not be taken as seriously as an offer from another person with a pre-approval.

If you would like to apply for your Pre-approval for your home search, Howard Hanna Mortgage Services is a great place to start! Just call or text me at 412-613-4466 or email me at sold@ericmckenna.com. I can put you in touch with our office’s Howard Hanna mortgage consultant and get the process underway.

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1 Stop Shopping!

Howard Hanna Loan Programs

With Howard Hanna – it’s Truly One Stop Home Shopping!

Get Pre-Approved