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Down Payment Assistance
Make Your FHA or USDA Loan a Zero Downpayment Loan Program!
SMARTBUY Downpayment Assistance Program
w/ 5 yr Forgivable 2ndMortgage
- Both USDA RD and FHA loan types are eligible.
- Minimum 620 Credit Score
- No Interest or Payments
- If the mortgage is current the 2nd mortgage is forgiven after 60 payments.
- If mortgage is paid-off before 60 payments, the DPA is due and payable.
- Downpayment Assistance Amount is 3.50% of the loan amount.
- DPA Funds may used to fund 100% of the required funds to close, including:
- Downpayment
- Closing Costs
- Pre-Paid escrow items
- Any other mortgage related costs
