05/21/2024
I am excited to announce the launch of our new Down Payment Assistance (DPA) Program, designed to make homeownership more accessible for qualified borrowers. Here are the key highlights and eligibility criteria of our program:
Program Highlights:
Down Payment Assistance: Qualified borrowers can receive 3% of the down payment assistance, up to $15,000.
First Mortgage Requirements: The first mortgage must have a Loan to Value (LTV) ratio of 95%-97%.
Second Lien Details: The down payment assistance is provided as a second lien, which has no monthly payments and no interest. The assistance amount is due when the first lien is refinanced or paid off, whichever comes first.
Flexible Repayment: While payments on the second lien can be made throughout the loan term, they are not required.
Eligibility Criteria:
Income Limits:
For the Indianapolis area: Income must be at or below $80,960.
For the Las Vegas area: Income must be at or below $70,240.
Credit Score: A minimum credit score of 620 is required.
First-Time Homebuyer Requirement: At least one borrower must be a first-time homebuyer, meaning they have not had ownership in a property in the last 3 years.
Guideline Usage:
Home Possible Guidelines: Used if the credit score is below 700.
Home One Guidelines: Used if the credit score is 700 or above.
Our goal is to provide the support needed to make the dream of owning a home a reality for many individuals and families. This program is an excellent opportunity for those looking to achieve homeownership with minimal initial costs.
For more information or to determine your eligibility, please feel free to contact us at Bruce Singer, Senior Loan Officer, NMLS # 197960 with Vision Home Mortgage NMLS # 357565, call 702-217-5525.
Bruce Singer, MBA
Vision Home Mortgage, NMLS # 357565
SR. Loan Officer
223 N Pecos Rd, #120
Henderson, NV 89074
702-217-5525 cell
702-736-3116 office
NMLS # 197960
[email protected]
www.mortgageloansbybruce.com
www.visionhomemtg.com
Vision Home Mortgage is an Equal Housing Lender
Looking for home mortgage services in Nevada? We offer a variety of real estate mortgages to fit your needs. Call Us 702-736-3116.