New Down Payment Assistance Program! Here's What You Need to Know

New Down Payment Assistance Program! Here's What You Need to Know

A new Down Payment Assistance program just rolled out, which helps more than just first-time home buyers! Here's what you need to know...

You DO NOT need to be a first-time home buyer to qualify! There are also no income limits.

 

Here's how it works: The buyer receives a grant of either 2% or 3.5% of the purchase price for the down payment. FHA guidelines require a 3.5% down payment, so this program allows the buyer to come with just their closing costs. This program still allows the seller to contribute up to 6% in seller concessions. 

 

 

 

Program Summary

  • ONE down payment assistance program that can be used nationwide (excluding WA)
  • Completely forgiveable grant, equals 2% or 3.5% of purchase price
  • May be combined with up to 6% seller concessions for closing costs
  • No resale restrictions
  • Program Specifications

Program Specifications

  • 620 minimum FICO score
  • Max DTI 48.99%
  • Max LTV 96.50%
  • 30 year fixed
  • Purchase only

Borrower Eligibility

  • First Time Home Buyer OR
  • Current/Retired Employment or Volunteer/Non-paid Member

 

Call/Chat with us to take advantage of this awesome program!

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