Down Payment Assistance (DPA) for FHA Mortgages Now Available
As mortgage brokers we have seen different ways some lenders offer to help borrowers make the down payment required for an FHA loan.
Up until now, I wasn’t feeling warm and fuzzy about them.
We now have a lender in place that is offering to cover the entire 3.5% down payment. Here is the catch – there are “NO PAYMENTS” – this is for real! This means the borrower is never responsible for paying back the money lent to make the down payment. There will not be a second mortgage and the debt is totally forgiven.We can do FHA mortgages with DPA in CT, MA, RI, ME, NH, VT, NY, and FL.
The minimum credit score is 620 and Down Payment Assistance product is available for straight FHA loans or the FHA 203K’s (for construction and repairs).
Get in touch today to learn how you can purchase a new home with Down Payment Assistance.
Call (800) 822-7482 or email joe@righttracfg.com
