We have added a new down payment assistance program where eligible home buyers can receive up to 100% financing. This program is not limited to first time home buyers and there are no income limits with an FHA mortgage as the first lien. Would you like more good news? The down payment assistance is in the form of a second mortgage with a 5-year forgivable option OR a 10-year repayable option.
Here’s more:
- DPA available for 3.5% or 5%
- First mortgage options include FHA and USDA mortgages (Subject to FHA county loan limits or USDA’s income limits)
- Available for FHA high-balance mortgages
- 620 minimum credit score
- Owner occupied/primary residence
- Minimum LTV of 90%
- Temporary rate buydowns available
- 1-2 unit homes; condos and manufactured homes are eligible
- Not limited to first time home buyers
- No income limits (unless you opt for a USDA mortgage)
This is a great option to help home buyers who need extra funds or don’t want to tap their savings to buy a home. I’m very happy to be able to offer this down payment assistance program.
For more information about this or any mortgage needs, please contact me!
Please leave a reply