Lenders and Real Estate Professionals
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Information for Single-Family Lending and Real Estate Professionals
Program Announcement
May 13, 2022
NEW 3% Downpayment Assistance Option!
Dear Lending, Real Estate and Non-Profit Partners:
Starting May 16, 2022, the Commission will offer a brand-new 3% downpayment assistance option for Home Advantage Gov't and Conventional loan programs. Qualified homebuyers can get downpayment assistance funds of up to 3% of the first-mortgage loan amount--with no assessment of need!
That means depending upon the market you now have an additional option under the Home Advantage program.
Details:
Only available with Home Advantage Gov't and Conventional Loans with 1% Origination Fee.
Available with reservations made on or after May 16, 2022.
Existing reservations may not be switched or re-reserved to the new program.
Cannot be used with the House Key first mortgage.
We're excited to add this new program to your toolkit of great downpayment choices.
Please Note: Due to current market conditions, the Commission may not be able to offer some rate options every day which may include the new option referenced above.
Updates to the Home Advantage manual have been posted. The new program will be noted on our rate sheet.
If you have any questions, please email Corrina Obar