down-payment-assistance 
Housing Wire
OCTOBER 30, 2023
loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage.
Housing Wire
FEBRUARY 15, 2024
The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said.
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Housing Wire
NOVEMBER 17, 2023
CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. The second mortgage requires a monthly payment. The forgivable option for a Chenoa Fund DPA has a 30-year term with a 0% interest rate.
Housing Wire
JUNE 23, 2023
The CCM Smart Start program will provide eligible individuals with up to $4,000 in down payment assistance , granting them additional purchasing power. “Saving for a down payment can be a huge obstacle for first-time homebuyers,” CCM Chief Operating Officer Jenn Stracensky said.
Housing Wire
JULY 26, 2023
Add Guaranteed Rate to the list of lenders offering down payment assistance programs to target first-time homebuyers facing historic affordability challenges. The Chicago-headquartered lender released OneDown — a mortgage loan that allows customers to buy a home with a minimum down payment of 1% of the purchase price.
Housing Wire
AUGUST 4, 2022
Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. Why any lender would create a downpayment assistance fund with its own money — rather than that of a state housing finance agency or other source — is not clear from Fannie Mae’s guidance.
Housing Wire
MAY 10, 2024
The new service, Roam Boost, will cater to people with credit scores of at least 640 and down payments of at least 15%. If the buyer has a 20% down payment, or $80,000, they would still need an additional $40,000 to seal the deal. A prospective buyer would still need to come up with $120,000 to close the gap.
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