1% Down

Renewing Your Mortgage

The Power Purchase Down Payment Assistance Program (DAP) is a competitively priced Conventional loan program that requires only a 1% down payment from the homebuyer(s).  Combined with a 2% Power Purchase Grant provides your borrower(s) a total of a 3% down payment.  
This Power Purchase Program is available for both 1st time homebuyers and repeat homebuyers on their primary residence.  
Refinance transactions are not eligible. 
This home loan program is a purchase money first lien mortgage and provides down payment assistance in the form of a grant for purchase buyers on their primary residence.

 

  • Minimum 620 credit score
  • Must meet Freddie Mac Home Possible Advantage Guidelines
  • 2% grant -no repayment required
  • First time or repeat buyers
  • 1% required from Buyer
  • Reduced Mortgage Insurance

 

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