Low Down Payment Options
March 13, 2015 — 2 min read
As mortgage rates ticked slightly higher, lenders have begun to offer an assortment of lower down payment loan options, helping homebuyers maximize their purchasing power. These options provide opportunities for homeownership to credit-worthy borrowers who desire to become successful homeowners.
Low or zero down payment mortgage options, including FHA, VA, and USDA play an important role in helping clients realize their dreams of homeownership. The Platinum Purchase Program provides eligible homebuyers with a grant up to 5% of their loan, which can be used towards down payment or closing costs, with no repayment required. This potentially helps borrowers purchase a home much sooner than they thought possible.
Grant programs like these are available to help borrowers come up with a down payment, and can often be combined with low down payment loan programs so your clients don't have to provide any out-of-pocket funds! The Platinum Purchase Program recently updated their county income limits for eligible borrowers in Oregon, Washington, Idaho, and Utah.
With spring home buying season upon us, contact us today to find out how to qualify for these great loan opportunities!
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