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

High Balance

Higher Loan Amounts at Conventional Rates!

  • If your financing up to $756,600, then saving money matters most (minimum $510,400).
  • Get into the loan with as little as 10% down and no mortgage insurance
  • Fast and easy process, we guarantee that you’ll be happy with your loan and that you won’t have to wait for months on end to get it. We can close these loans in less than a month.
  • You can use this loan at both your primary and secondary residences. If you’ve got an investment home, then you can do that too!
  • Get this loan with a credit score of 680 or higher.


  • FHA loans have a lower down payment and allow for low credit scores down to 580 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)!
  • Due to Covid-19 some of our wholesale lenders have increased the credit score requirements for FHA Loans. With a minimum credit score of 620, however, these requirements are updated regularly, if wish for more information please request information with this 30-second form!!


  • 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.


  • With a USDA loan, the American Dream is in your grasp, these loans are great for those looking to purchase a rural home with no money down.
  • 100% financing available.
  • Seller credits may help pay for your closing fees and prepaids
  • Potentially roll closing fees into your next monthly payment
  • For USDA income and geographic restrictions apply.
  • USDA Links here:


  • Fast and Easy closings, 25 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 $510,400 or higher.
  • Options available for primary, secondary and investment homes!
  • Starting at 680 FICO, plus special low rates for 700+ FICO.
  • Due to Covid-19 we are not offering any Jumbo Loans as our wholesale lenders have temporarily suspended offering Jumbo Loans due to volatility within secondary credit markets.


  • 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


  • Conventional Purchase and Refinance (rate and term)
  • VA Purchase and Streamline VA IRRL (Interest Rate Reduction Loan)

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