New Downpayment Assistance Program!
Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. There is no repayment associated with this down payment assistance program.
The grant program may be applied against the borrower s down payment, closing costs and prepaids. This is a regular FHA loan but a new down payment assistance program.
The loan must be a owner-occupied home and the borrower must not own any rental property.
4% DPA- FHA, VA & USDA
3% DPA - Conventional (Fannie & Freddie)
Program Requirements Income limits restricted by county
Minimum Credit Score: 640 minimum
Purchase price maximum Government - $250,200 Conventional - $324