Luxury Down Payment Assistance program for High Priced Homes

Provides 1:1 matching funds up to $50,000.

• Assistance must be repaid when the property is sold.
• Program designed to help avoid Private Mortgage Insurance because of much larger down payment.
• Increases the ability to purchase a larger home without Mortgage Insurance.
• Mortgage payments are lower because of Non- Jumbo interest rates and no mortgage insurance.
• Appreciation equity is divided 50% between the Owners and the Lender when the Property is sold.
• Equity that results from Owner paying down the mortgage is Owners equity alone and not split with Investor.
• Primary Residences only.
• 1003 Income only.
• No Income Limits.
• Maximum purchase price $500,000.
• Fannie Mae (DU Approval Required)
• No Bankruptcies in the last 4 years and no foreclosures, Deed in Lieu, or Short Sales in last 7 years
• Minimum middle credit score 640 with DU approval.
• No Prepayment Penalty Fee if the loan is paid out early.