06/12/2024
Down Payment Assistance on a Conventional loan? But better!
Simply put, qualified borrowers receive a 3% down payment assistance loan, up to $15,000. This allows borrowers to get into a home right now with no upfront down payment!
Here's how it works:
-Lender provides a second lien mortgage for 3% of the purchase price, up to $15,000
-Second lien has NO monthly payment requirement & NO interest
-Second lien balance is due when the first lien loan is refinanced or paid off, whichever comes first
-Payments on the second lien can be made throughout the loan term, but are not required
-When selling, the second lien can be subordinated into the first lien
This can also be combined with seller-paid closing costs! Call or message today to find out how we can help accomplish your financial goals.