Homestar’s Advantage

The Most Product Choices

Homestar offers the most mortgage choices

Homestar is both a Banker & Broker, which means they have complete control of the mortgage transaction.

First Time Homebuyers:

You only buy your first home once, and with Homestar’s guidance it can be a stress-free, enjoyable experience. Here are some of the popular programs Homestar can provide:

Rhode Island Housing

Offers a number of programs through Homestar Mortgage, from low-interest, low down payment loans for the first time homebuyer, or for rehab of older homes.

Massachusetts Housing programs through Homestar, provide MA residents with low and moderate incomes who may be under-served by conventional markets.

FHA mortgage’s through Homestar, are backed by the U.S. government, insured against loss and carry an interest rate that’s competitive or lower than the best interest rate in your local marketplace.

VA mortgages are now available for most qualified veterans and active duty military in high cost areas, with no money down. Also, many VA loans are guaranteed and are often assumable. You can choose from fixed or adjustable rate mortgages.

No Cost Pre-Approval

Talk to Homestar about how much home you can afford and get pre-approved before you begin your house search. You will know exactly how much you can reasonably afford to pay per month for mortgage and taxes.

Getting pre-approved means you receive a loan commitment from Homestar even before you have found the home you want, based on a timely review of your credit and finances. Pre-approval say’s to all you are a qualified buyer and helps you establish the homes clearly affordable price range.

Homestar will pre-approve you at no cost so your presentation to the seller leaves no questions regarding your ability to buy your dream house. The sellers should take you more seriously because they’ll know that you can afford what you’ve offered and that financing is not an issue. This could be especially helpful if you happen to be one of many buyers making an offer.

Pre–approval by Homestar reduces the time between your purchase and sale agreement and your closing. Homestar’s experienced team of home appraisers, attorneys and title companies bring your transaction to a secure completion.

Reverse Mortgages

Imagine getting the equity in your home as tax-free cash to be used for any purpose and not have to make a mortgage payment…

Homestar can make that happen. If you are at least 62 years of age and own and occupy your home as primary residence you qualify for a reverse mortgage. This is a loan against the equity in your home that will provide you tax-free cash that can be used for any reason. You are not required to make loan payments during the life of the loan, we actually pay you. We can help you decide if a reverse mortgage option is of benefit to you. Please call us now.

Refinancing

Homestar can help determine if refinancing makes sense for your own situation. They will explain all of your options: Do you refinance to lower your rate? Refinance to build equity faster? Choose a fixed–rate mortgage or acquire the cash for any number of uses?