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loanDepot’s new FHA down payment assistance program lets borrowers put zero down

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.

Borrowers must have a minimum credit score of 600 to qualify for the down payment assistance, which can be as much as 5% of the home purchase price or appraised value, whichever is less. 

The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com