Our exclusive 0% Down Purchase is a down payment assistance program that allows borrowers to receive a 3% loan up to $15,000 from the lender. Borrowers will have no required monthly payment on the second lien and the second lien does not accrue interest. The second lien is due in full as a balloon payment upon refinance of the 1st lien, a payoff or the final payment of the amortization schedule of the 1st lien. Help more borrowers get into a home with no upfront down payment. The 0% Down Purchase requires a first and second lien loan, and must follow Home Possible® guidelines.
620+ FICO and must be LPA Accept and meet Home Possible guidelines
Minimum LTV 95%, maximum 97% w/ 3% down payment assistance up to $15,000
Qualifying income limited to 80% or less of Area Median Income (AMI)