Prosperity Home Mortgage, LLC, a full service mortgage banker and a wholly owned subsidiary of The Long & Foster Companies, announced that it is now offering HomeBuyer Power PLUS, a new mortgage product.

Under current tight lending standards, many homebuyers face challenges that make homeownership seem unattainable, including the ability to save for down payment, pay closing costs or qualify for a loan. While these factors may deter otherwise motivated clients, Prosperity Home Mortgage wants to help them purchase a home today. For a limited time, the company is offering a program that has many features of a traditional mortgage but with additional incentives that may help these clients become homeowners.

Prosperity Home Mortgage’s HomeBuyer Power PLUS program offers a number of possible benefits to homebuyers who qualify. These include: a program credit of 1 percent that can be used to reduce the down payment to less than 3 percent down, lower closing costs without impacting maximum seller contributions or offset a 1 percent discount point used to reduce the mortgage rate; and a $500 program credit to borrowers who participate in an approved homeownership education course. Qualified borrowers may also be eligible for two years of job loss protection through MortgageAssure.

“For those who are ready to buy a home, our HomeBuyer Power PLUS program offers incentives that may help clients get the house they want,” said Tim Wilson, CEO of Prosperity Home Mortgage. “By participating in the approved homeownership education program, they not only receive an extra incentive but it will help them understand the responsibilities of homeownership and prepare them to better anticipate and take on those responsibilities.”

Prosperity Home Mortgage offers a wide range of mortgage products, including fixed and adjustable rate mortgages. It is represented by more than 150 mortgage consultants and operates its own in-house processing, underwriting and closing at its five operation centers across the East Coast, from Georgia to New Jersey. Prosperity Home Mortgage also coordinates its clients’ appraisals and mortgage fulfillment in-house. For more information, visit www.PHMLoans.com.

Disclaimer: All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia. NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/). Prosperity Home Mortgage LLC is a wholly owned subsidiary of Long & Foster Companies.