Click n’ Close has partnered with a non-profit to expand homeownership opportunities nationwide. This down payment assistance (DPA) program, SmartBuy™, combines a USDA or FHA-insured 30-year first mortgage with a second lien that is either fully forgivable after 5 years OR a 10-year repayable second lien. The second lien funds available through both options meet FHA’s minimum required investment guidelines and can be used by the borrower towards their down payment and/or closing costs. Click n’ Close has also launched its own proprietary Shared Appreciation Mortgage program and added the FHA 203k limited product to be combined with the DPA SmartBuy™ program.
Make Your Client’s Next Buy a SmartBuy™
DPA PROGRAM HIGHLIGHTS
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DPA funds meet FHA and USDA minimum required investment.
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Up to 5% of purchase price can be used towards borrower’s down payment, closing costs, or to lower the rate on the underlying mortgage.
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No income or first-time homebuyer restrictions
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Program is available nationwide.
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Repayable 10-year option can have 10-, 20- or 30-year amortization to help lower the borrower’s monthly payments.
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Forgivable 5-year option has ZERO interest and NO payments.
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Our Shared Appreciation Mortgage offers a below market interest rate while still allowing the borrower immediate access to DPA funds.
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Our FHA 203k Limited product is available for borrowers needing to make home renovations.
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We allow Temporary Interest Rate Buydowns to help lower the borrower’s payments for the first 2 years.