Down Payment Assistance

Lacking a down payment is often the biggest barrier for people hoping to buy a home. But No Money Down Programs help buyers cross this hurdle with “junior” loans. Also called “silent second mortgages,” these are often no- or low-interest and do not have to be paid during the life of the first mortgage. Borrowers pay them back when they sell the property or after the first mortgage is paid in full.

Closing Costs Assistance

Closing Cost Assistance may also available. Closing Cost assistance can be used for closing costs, up to 3.5 percent of the purchase price.

Wider Range of Eligible Properties

No Money Down Programs do not limit people to a specific geographical area or neighborhood. Some programs can also be used to purchase condos, townhouses, and manufactured homes.

More Generous Limits

No Money Down loans allow for higher incomes than many other programs and allow a statewide home purchase price limit of $795,000. Income limits vary by county, ranging from $128,000 at the lower end to over $200,000 in some coastal areas.


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