Current Loans

General Loans


  • If you have a solid credit score and little debt, then this is the loan for you!
  • Pay up 20% of the loan up front to lower your monthly payment and rid yourself of the PMI (Private Mortgage Insurance). However, a conventional loan can be available to you with a down payment of as little as 3% with or without PMI.
  • To learn more look at our BPMI and LPMI Videos below!

Fixed Rate

  • Offered under every single loan type offered at HMS
  • Your rate never changes, your payment is always the same.
  • These Fixed Rate Mortgages are available in terms of 8 years to 30 years and customizable to your financial needs.
  • Fixed Rates Loans


  • FHA loans have a lower down payment and allow for low credit scores down to 600 and some lenders even go down to 500, there is no income limit, you can have high debt to income ratios and less time from a bankruptcy or foreclosure (or other derogatory credit events)!
  • If you're worried about your risk for getting a loan, please call us so we can help you make an informed decision. 


  • Designed for those who serve, these loans are issued by lenders who are federally qualified and assured by the U.S. Veterans Administration.
  • They come with options for no down payment, and no monthly insurance premium
  • Little to none reserve requirement
  • A credit score as low as 580
  • VA Jumbo loans have values as much as $1.5 million
  • Option of varied or fixed rates
  • And, the Seller or the lender may contribute to the veteran’s closing cost.



  • Fast and Easy closings, 45 days or less, don’t break a sweat getting your finances in order!
  • Great fixed rate and ARM loans available!
  • Loan amounts for Jumbo Loans start at $548,250 or higher.
  • Options available for primary, secondary and investment homes!
  • Starting at 680 FICO, plus special low rates for 700+ FICO.


  • Most people only stay in their mortgage for 5-7 years, why not go for a low rate?
  • With an ARM, more of your payment goes toward the principal, you pay down your mortgage faster, and ARMs are safer
  • ARMs no longer feature pre-payment penalties, it is very easy to refinance
  • You’ll never have to worry about a big balloon payment
  • A lower rate means a lower payment, which means more cash in your pocket every month
  • You never have to worry about balloon payment at HMS as we do not offer loans with balloon payments or loans with prepayment penalties. Loans with risky features such as “No Negative Amortization” are not offered as well to protect the borrower.

Special Loans

Up to 95% LTV

  • Offered in Conventional, FHA, VA or High Balance

Lender Rate Credits for Closing Costs and Prepaids

  • Applies to all loans offered through HMS

No Closing Costs

  • Applies to all loans offered through HMS

As an independent licensed mortgage broker we offer lender credits towards closing costs and prepaids on every loan.  So whether you want low or no closing costs we can customize your loan so it benefits you.

  • Fixed Terms from 8 to 30 years
  • Appraiser Waivers available on Purchase and Rate and Term Refinances based on automated underwriting qualifications.
  • Escrow Waivers up to 95% Loan to Value with a 640 credit score or higher
  • Closings with-in 15 days
  • No Underwriting Fees available

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Illinois Residential Mortgage Licensee #MB.6760824 Company NMLS #695728 We are regulated by the State of Illinois, Illinois Department of Financial and Professional Regulation, Division of Mortgage Banking Regulations 100 West Randolph, 9th Floor Chicago, Illnois 60601 Telephone 312-793-3000 Facsimile 312-793-7097


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Contact Us

Home Mortgage Specialists, Inc.
6808 N Knoxville Avenue
Peoria, IL 61614

(309) 222-8286