Our Thrive Home2Home program is a twostep offering that allows a borrower to qualify for a new primary home purchase while the departure primary residence is listed for sale (current home needs to be on the market for sale at the time we submit the loan to underwriting). We provide a short-term, 100% purchase money loan, followed by a permanent conversion once the departure residence is sold.

PROGRAM DETAILS:

• Current primary residence house payment is excluded in qualifying for the new home purchase
• Allows the ability to close on new single-family home before departure is sold (departure residence does need to be listed for sale for loan approval)
• Opportunity to sign a non-contingent contract for purchase of next home
• Once departure residence is sold, borrower will apply proceeds (or other verified assets) to permanent loan conversion (minimum 5%)
• Qualification is based on final rate/term financing approval
• 700 minimum credit score, permanent loans for Conventional financing only
• 100% financing, short term purchase loan (6-month balloon payment), 5%, interest-only payment
• $999,999 loan limit, exceptions for higher limit in certain instances
• Permanent financing will be at market interest rates

Short term financing is up to 100% LTV financing with documentation of 5% liquid assets.  Short term financing up to 95% LTV to $1 million and loans over $1 million require a 10% down payment. Minimum FICO score of 700. 95% LTV conventional and 96.5% LTV FHA conversion refinancing with AUS approval. Consumer must complete conversion refinancing with Thrive Mortgage. Property eligibility limited to primary residence single family, 1-unit properties only. Not applicable to Manufactured Housing, Condominium units, or properties with two or more units.  Additional conditions may apply. Please reach out to your Thrive Mortgage Loan Officer for complete program details. All loans are subject to underwriting or investor approval.  Other restrictions may apply. This is not an offer of credit or a commitment to lend. Program not available for VA or USDA conversion loans. Closing costs apply. Guidelines subject to change.