What You Need To Know About Down Payment Assistance Programs

Saving for a home’s downpayment deters so many people from pursuing homeownership. If a lack of downpayment funds is stopping you from pursuing your homeownership goals, it’s important to know that the United States has over 2,000 downpayment assistance programs. Downpayment assistance programs are loans and grants that allow for low to no downpayment when purchasing a home. 

Each program has different requirements that borrowers must meet to be eligible. For example, most programs have specific income limits and require that you work with an approved mortgage lender.

Imagine Home Lending offers a 100% FHA financing downpayment assistance program. This means that if selecting an FHA loan, you may qualify for downpayment assistance. Qualified borrowers have a minimum of a 600 FICO credit score, and the property must qualify for an FHA loan. 

If you’re looking for a no-money-down mortgage option and want to know more about our FHA Downpayment Assistance Program, contact us today! 

Imagine Home Lending is not affiliated with the Federal Housing Administration or the Federal Government. The program is for qualified borrowers. All borrowers are subject to credit and underwriting approval.