How do HML work?
Will they work with anybody?
Will they do financing for people with low scores?
Do they pay for dwn payments and closing costs as well?

HML’s are all different. In general they loan based on the property not the person getting the loan. As a result their guidelines are less restrictive and they can loan to people with lower scores.

Many will loan 100% and roll fees into the loan so the borrower has very little to bring to the table.

They are not cheap loans, so if you use HML, you need to make sure it is factored into you estimates. Also, many have extra fees if you hold more than 4 or 6 months so you need to be able to get in and out fast.


When you say many will loan 100% is that for a rehab deal? Do you know of any that will lend 100% on a regular purchase? If so could you PM me with some names. It would be greatly appreciated.



I’m sure you can find a HML to loan on a regular purchase if the numbers are right, but you would have to be picking up a property at 60-70% of the value. Just call a couple that work in your state and ask their requirements. Here is the list from this site.

There are only a couple options for 100% conventional loans.

You must have a 720 score to get either a combo structure or 1 loan with no pmi.

There is the possibilty of having a 660+ score with a seller 2nd up to 100%. Or, you can have a relative give you a gift for the down payment.