A low-rate alternative to conventional or FHA-backed loans, the Mutual Home Advantage (MHA) gives you more flexibility without having to pay PMI and elevates you to build the equity in your home faster. The main benefits of a MHA loan include:
MHA gives home-buyers the flexibility to put down as low as 3% without the added cost of private mortgage insurance (PMI).
Between not having any upfront financing fees or a PMI requirement, you’ll save on your monthly mortgage payment.
More of your monthly payment will go right back into your home, enabling you to build equity at an increased pace.
*APY = Annual Percentage Yield | APR = Annual Percentage Rate
F = Fixed Rate | V = Variable Rate
LTV = Loan-to-Value, DTI = Debt-to-Income, PMI = Private Mortgage Insurance
The information provided assumes the purpose of the loan is to purchase or refinance a primary residence with a rate lock period of 60 days. Rates are based on an assumed credit score of 700, a maximum of 75% loan to value (LTV) and loan amounts between $100,000 & $548,250 ($601,450 in Fairfield County only). A No PMI program is available on purchases or refinance up to a maximum of 97% LTV (click here for more details). An escrow account may be required. Rates are subject to change. For our most current rates, visit our Rates Page.