• We now offer a 40-year loan with the first 10 years as interest only, enjoy a low monthly mortgage payment!!!
(800) 535-0270
Select Page
contact us

Fast Quote


Coop Investments
bank statemen program

Down Payment Assistance

MortgageDepot is excited to announce that we have partnered with National Homebuyers Fund, Inc. (NHF) to provide our Borrowers the down payment assistance program. If you are looking to acquire a property as a First time home buyer and don’t have the down payment, than the down payment assistance program will close that gap for you. This is for an FHA purchase transactions only and the grant that is given is actually completely forgiven, no repayment is required. There are certain guidelines that need to be met and HomeBuyer Counseling is required.

Some of the key benefits of the FHA – Down Payment Assistance Program.

  • NHF Sapphire Grant: 3.00% or 5.00% of the 1st mortgage total loan amount.
  • Grant is completely forgiven – no repayment required!
  • Grant can be used for down payment and/or closing costs.
  • Seller Credit of 6% is allowed.
  • Gift funds are allowed!
  • Can be paired with MCC or other Down Payment Assistance Programs.
  • Borrower(s) not required to be First Time Homebuyers.
  • Income Limit is based on qualifying income used for transaction, not household income.

Program Requirements:

  • 620 Minimum FICO, Maximum 45% DTI.(debt to income).
  • Income Limits: 115% of Area Median Income.
  • All borrowers must occupy property as primary residence.
  • The lesser of $417,000 or maximum loan amounts permitted by HUD.
  • At least one borrower must have Homebuyer Counseling.
  • Borrower Paid Origination Fee of 1.5% – May use Grant to Pay Origination Fee.

Contact us for more information about this unbelievable Down Payment Assistance program.

Call us today for a FREE consultation at (800) 535-0270 or email us by clicking here.


© 2019 www.mortgagedepot.com. All Rights Reserved.
Licensed By The Following State Regulatory Agencies:
New York State Department Of Financial Services
Florida Office Of Financial Regulation.
Website Authorization By The New York State Department Of Financial Services Is Approved.
*Registered Mortgage Broker — New York State Department Of Financial Services – All Mortgage Loans Are Arranged Through Third (3rd) Party Providers’ NMLS # 1133788