Tag Archives: down payment assistance

This first-time homebuyer program is like winning the lottery

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California to use lottery system to allocate $220 million in “Dream for All” shared appreciation loans that cover down payments for first-time homebuyers. Continue reading →

Mortgage giants offering very low income homebuyers a spring break

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Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums. Continue reading →

LoanDepot lets buyers cover FHA down payment with 2nd mortgage

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Available everywhere except New York, loanDepot’s new “accessZERO” program provides a down payment of up to 5 percent in the form of a 10-year fully amortized second mortgage. Continue reading →

Zillow is the latest lender to offer a 1% down purchase mortgage

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UWM and Rocket Mortgage are also leveraging Fannie Mae and Freddie Mac programs tailored to borrowers earning less than 80 percent of the area median income. Continue reading →

California puts another $200M into shared appreciation loans

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CalHFA’s Dream For All loan program for first-time homebuyers burned through the first $300 million funding round in less than two weeks. Continue reading →

8% of buyers got down payment help from family this year: Survey

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A new survey of 1,700 real estate agents this spring found that homebuyers in the Northeast and in Southern California were the most likely to get financial help from their family. Continue reading →

Rocket’s new 1% down mortgage also picks up tab for PMI

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Lender estimates a hypothetical buyer putting down $2,500 on a $250,000 home could save $20,500 in private mortgage insurance payments over 7 years. Continue reading →

Freddie Mac spotlights lenders for promoting affordable loans

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UWM, Rocket and Fairway were enthusiastic backers of Freddie Mac’s Home Possible mortgage in 2022, which lets low-income homebuyers put as little as 3 percent down. Continue reading →

How to talk to clients about money (and all the rest): The Download

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Agents can deal with economic headwinds by understanding their buyers’ mindset and helping them tap into down payment resources. Continue reading →

Unlock homeownership with down payment assistance programs 

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As a real estate agent, it’s not enough just to conduct the transaction. Provide education and service that will help make it possible in the first place. Continue reading →